The Aspiring Home Buyers Profile from the National Association of Realtors (NAR) 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. The results of the survey show that non-homeowners cite the main reason for not currently owning a home, as not being able to afford one.
This brings us to two major misconceptions to address today.
NAR’s survey revealed that consumers overestimate the down payment funds needed to qualify for a home loan. According to the report, 39% of non-homeowners say they believe they need more than 20% for a down payment on a home purchase. In actuality, there are many loans written with a down payment of 3% or less.
Many renters may actually be able to enter the housing market sooner than they ever imagined with new programs that have emerged allowing less cash out of pocket.
An Ipson survey revealed that 62% of respondents believe they need excellent credit to buy a home, with 43% thinking a “good credit score” is over 780. In actuality, the average FICO® scores of approved conventional and FHA mortgages are much lower.
The average conventional loan closed in August had a credit score of 752, while FHA mortgages closed with a score of 683. The average across all loans closed in August was 724.
If you are a prospective buyer who is ‘ready’ and ‘willing’ to act now, but are not sure if you are ‘able’ to, sit down with a professional who can help you understand your true options.
kunversion.com
Property Search
RSS Feed
Search Blog
Recent Blogs
Fabulous Fall Decorating Ideas - Fabulous Fall Decorating
If You Love Horses Join Us - https://gvltoday.6amcity.com/weg
Greenville SC History Of Street Names - https://mailchi.mp/gvltoday/good
September -
With approximately 50 years combined experience, Guest Group brings a wealth of varied experience in both Residential and Commercial Real Estate.
We are loyal, ethical and very dedicated to our clients. We give exceptional service and continue to have our clients for life. We compliment each other and understand the Real Estate Industry and the Local Market.
We have strong negotiating skills and transaction servicing that will ensure you of a successful real estate experience.
Fabulous Fall Decorating IdeasSOUTHERN LIVINGBring the warm colors of
https://gvltoday.6amcity.com/weg-2018-tryon-nc/?omhide=true&utm_source
https://mailchi.mp/gvltoday/good-morning-greenville-93969?e=2d8618c1bf
"We couldn't be happier with the service(s) we received from the Lawton Team and our realtor associate, Dawn Borkowski, with our home search during our recent relocation to the Greenville area. Dawn has a deep knowledge of the areas we were interested in searching, listened to our wish list and found us the perfect home in a very short period. She guided us through the process with professional precision and managed a good part of the many details for us, as we were still living out of state. Her professionalism and friendship truly made our move, which could have been a challenge, an easy and enjoyable transition. We can't recommend her and the Lawton Team's services highly enough!"
This is a list of your favorite properties. We will email you if a property is reduced or leaves the market.
Click 'Save' to add a property to this list.New & returning visitors please enter your information to login.
This message will go directly to the head of our team.
Español
Francais
Deutsch
Italiano
Portugues 
Chinese 
Russian 