Buying a Home Can Be Scary…Unless You Know the Facts
Many potential homebuyers believe that they need a 20% down payment and a 780 FICO® score to qualify to buy a home, which stops many of them from even trying! Here are some facts:
40% of millennials who purchased homes this year have put down less than 10%.
76.4% of loan applications were approved last month.
The average credit score of approved loans was 724 in September.
Buyers in the market during the winter months are truly motivated purchasers. They want to buy now.
The interest rate you pay on your home mortgage has a direct impact on your monthly payment. The higher the rate the greater the payment will be. That is why it is important to know where rates are headed when deciding to start your home search.
Everyone should realize, however, that unless you are living with your parents rent-free, you are paying a mortgage – either yours or your landlord’s.
In a CNBC article, self-made millionaire David Bach explained that: “The biggest mistake millennials are making is not buying their first home.”
Prices are appreciating at levels greater than historic norms. However, we are not at the levels that led to the housing bubble and bust.
If your plans for 2018 include putchasing your dream home, let’s get together to discuss your options and to help you make the most powerful and confident decisions for you and your family.
Existing home sales are currently at an annual pace of 5.81 million, the highest pace since December 2006.
Before you decide to take on the challenges of selling your house on your own, sit with a real estate professional in your marketplace and see what they have to offer.
Whether you are a first-time homebuyer or a move-up buyer who wants to start a new chapter in your life, now is a great time to reflect on the intangible factors that make a house a home.
As we usher in the new year, one thing is for certain…if you plan to buy or sell a house this year, you need a real estate professional on your team!