2 Major Myths Holding Back Home Buyers

Buying Myths, Down Payments, First Time Home Buyers, For Buyers, Move-Up Buyers
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Urban Institute recently released a report entitled, “Barriers to Accessing Homeownership,” which revealed that “eighty percent of consumers either are unaware of how much lenders require for a down payment or believe all lenders require a down payment above 5 percent.” Myth #1: “I Need a 20% Down Payment” Buyers often overestimate the down payment funds
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Slaying Home Buying Myths

Down Payments, First Time Home Buyers, For Buyers, Interest Rates
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Some Highlights: Interest rates are still below historic numbers. 88% of property managers raised their rent in the last 12 months! The credit score requirements for mortgage approval continue to fall. What’s Your Home Worth? [home_value_form] Search for Your New Home [listings market=”armls” listingType=”residential” pageSize=”12″ grid_size=”3″ sortfield=”listPrice” sortorder=”desc” map=”0″ pagination=”1″ search_widget=”1″ search_widget_prepopulate=”1″]

Buy a Home NOW with a 3% Down Payment or LESS!

Down Payments, First Time Home Buyers, For Buyers, Move-Up Buyers
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A survey by Ipsos found that the American public is still somewhat confused about what is required to qualify for a home mortgage loan in today’s housing market. There are two major misconceptions that we want to address today. 1. Down Payment The survey revealed that consumers overestimate the down payment funds needed to qualify for a
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Home Mortgages: Rates Up, Requirements Easing

Down Payments, First Time Home Buyers, For Buyers, Interest Rates, Move-Up Buyers
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The media has extensively covered the rise in mortgage interest rates since last fall (from 3.42% last September to the current 4.1% according to Freddie Mac). However, a less covered aspect of the mortgage market is that requirements to get a mortgage have eased while rates have risen. The Mortgage Bankers Association (MBA) quantifies the
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2 Myths That May Be Holding Back Buyers

Down Payments, First Time Home Buyers, For Buyers, Move-Up Buyers
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Fannie Mae’s article, “What Consumers (Don’t) Know About Mortgage Qualification Criteria,” revealed that “only 5 to 16 percent of respondents know the correct ranges for key mortgage qualification criteria.” Myth #1: “I Need a 20% Down Payment” Fannie Mae’s survey revealed that consumers overestimate the down payment funds needed to qualify for a home loan. According
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