Category: First Time Homebuyers

Ten avoidable mistakes first-time homebuyers commonly make

1. Neglect To Clean Up Their Credit Before Applying For A Loan Source: Flickr user Simon Cunningham Unless someone has the ability to pay for the home they’re looking at in cash, they’re going to have to take out a home loan. Getting approved for a loan, how much you can take out on the loan, …

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Attaining the American Dream: The 5 Financial Reasons to Buy

Eric Belsky, the Managing Director of the Joint Center of Housing Studies at Harvard University expanded on the top 5 financial benefits of home ownership in his paper – The Dream Lives On: the Future of Home ownership in America. Here are the five reasons, each followed by an excerpt from the study: 1) Housing is typically …

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Fannie Mae launches major first-time homebuyer assistance program

  Fannie Mae announced April 14th a new HomePath Ready Buyer program under which qualifying first-time homebuyers can receive up to 3% of the purchase price of the subject property in closing cost assistance toward the purchase of a HomePath property. On a $150,000 home, this could result in up to $4,500 in savings for …

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Did It Make Sense to Wait?

Over the course of last year, many people debated purchasing a home, but ultimately did not. Let’s look at whether the decision to wait to buy made sense financially. What happened in 2014? The 30 year fixed rate on January 2, 2014 was 4.53% as reported by Freddie Mac. Looking at the chart below, the monthly mortgage …

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Buying a Home with Only 3% Down Payment

Yes, you can buy your new home with as little as a 3% down payment! There is a common misconception that many buyers have regarding the down payment necessary to purchase a home. Multiple studies reveal that 40-50% of Americans believe you need between 15-20% of a down payment to be eligible to purchase a home. …

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New York Times: Homeownership is Best Way To Build Wealth

The New York Times recently published an editorial entitled, “Homeownership and Wealth Creation.” The housing market has made a strong recovery, not only in sales and prices, but also in the confidence of consumers and experts as an investment. The article explains: “Homeownership long has been central to Americans’ ability to amass wealth; even with …

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Engaged to be married? Say ‘I Do’ to Your New Home!

Forget the toasters and champagne flutes: More engaged couples are doing a different type of wedding registry that allows them to collect cash for a down payment on a home. It’s been reported that about 15 percent of registries are to raise down-payment funds for a home and another 15 percent are for home-improvement funds …

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Home Price Slowdown

Good News for Home Buyers The growing signs of a slowdown in the housing market might be good news for home buyers. Slowing home prices—after the double-digit increases last year—mixed with still-low interest rates are making homes more affordable. Also, the supply of homes for sale today represents 5.8 months of demand, the most since …

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Ten Reasons to Buy Your Home

Still wondering if it’s wise to buy your own home?  Quality of life – a home provides stability and security for you and your loved ones, and membership within a community of neighbors. Pride of home ownership – a home is a personal haven, a place that you can decorate, shape, and share over time …

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‘Seller Secrets’ Video

Just being on the market is not the same as being in the market. Check this video for tips about the most important factor for selling your home (surprise, surprise)… price. Learn how potential Buyers search on the web for their new home and interesting stats about home buying. You can’t afford to not check this …

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