Down Payments

Home Buying Myths Slayed [INFOGRAPHIC]

Some Highlights:

The average down payment for first-time homebuyers is only 6%!
Despite mortgage interest rates being over 4%, rates are still below historic numbers.
88% of property managers raised their rents in the last 12 months!
The credit scor…

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You Can Save for a Down Payment Faster Than You Think!

You Can Save for a Down Payment Faster Than You Think! | Simplifying The MarketSaving for a down payment is often the biggest hurdle for a first-time homebuyer. Depending on where you live, median income, median rents, and home prices all vary. So, we set out to find out how long it would take to save for a down payment in each state. Using data from the United States […]

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2 Major Myths Holding Back Home Buyers

2 Major Myths Holding Back Home Buyers | Simplifying The MarketUrban 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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61% of First-Time Buyers Put Down Less than 6%

61% of First-Time Buyers Put Down Less than 6% | Simplifying The MarketAccording to the National Association of Realtors’ latest Realtors Confidence Index, 61% of first-time homebuyers purchased their homes with down payments below 6% from October 2016 through November 2017. Many potential homebuyers believe that a 20% down payment is necessary to buy a home and have disqualified themselves without even trying. The median down payment […]

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Home Prices Up 7% from Last Year

Home Prices Up 7% from Last Year | Simplifying The MarketAccording to CoreLogic’s latest Home Price Index, national home prices have appreciated by 7.0% from October 2016 to October 2017. This marks the second month in a row with a 7.0% year-over-year increase. A lack of supply of homes for sale has led to upward pressure on home prices across the country, especially in areas […]

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Millennials Flock Towards Low Down Payment Programs

Millennials Flock Towards Low Down Payment Programs | Simplifying The MarketA report released by Down Payment Resource shows that 61% of first-time homebuyers purchased their homes with a down payment of 6% or less. The trend continued among all buyers with a mortgage, as 73% made a down payment of less than 20%. An article by Chase points to a new wave of millennial homebuyers: “We teamed up with Google to […]

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No… You Do Not Need 20% Down to Buy NOW!

No… You Do Not Need 20% Down to Buy NOW! | Simplifying The MarketThe 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 […]

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