The vast majority of first-time home buyers say a lack of funds for a down payment is the main reason why they’re yet to make a move in the property market, but many don’t realize that not everyone needs to pay 20 percent down to move forwards.
Located in Palm Beach County, Delray Beach with its beautiful surroundings provides a strong allure for intending condo buyers. However, its real prospects for successful sales may not be equal to its picturesque presentation.
Recent figures from the Canada Mortgage and Housing Corporation show there are hundreds of new condos in Calgary that are lying empty, according to an article in CBC.ca.
Last year, real estate prices in Canada reached an all-time high, but an article in the Huffington Post Canada points out that this year could be a very different story. This is at least in part due to new mortgage rules combined with higher mortgage rates.
Many millennials are said to be delaying their entrance into the housing market, and that decision could impact their finances for years to come, real estate experts warn.
Lenders are aiming to reduce the bloated time frame it takes from agreeing to buy a home to actually closing on the deal.
Homebuyers seeking Federal Housing Administration insured mortgages will soon be able to take advantage of reduced costs.