Surveys of first time buyers routinely show that saving for a down payment is one of the biggest hurdles on the way to homeownership. But those buyers may well misunderstand how much cash they actually need to save. “Paying 20 percent down is, quite frankly, a myth,” Karen Hoskins, vice president at NeighborWorks, told HouseLogic. […]
Best Down Payment Assistance Programs for First Time Buyers
October 31, 2018 by
There’s really no doubt that the biggest obstacle to home ownership are the finances. For most, it’s saving the down payment. Especially if you haven’t owned a home before with equity to transfer as the down payment when you up grade or move to another location (but that’s not a first time buyer). The Millennial […]
Saving for a down payment now takes an average of 7 years
October 25, 2018 by
For someone making the median income and putting
Analysis shows Chicago is the easiest place to save for a down payment
August 23, 2018 by
If you’re struggling to save up for a down payment on your first home, you could do a lot worse than move to Chicago, where it’s possible to do so within just three years, according to a new analysis from RealEstate.com.
Millennials go to great lengths to achieve homeownership
July 5, 2018 by
Millennials are showing such a strong desire to get into homeownership that many are willing to make big sacrifices or take on a second job.
Cash-strapped buyers turn to crowdfunding to raise a down payment
May 16, 2018 by
A growing number of aspiring homeowners are turning to crowdfunding platforms as a way of raising funds to cover their down payments. Crowdfunding platforms such as HomeFundMe and Feather the Nest have recently emerged, catering specifically for the home down payment market, Realtor.com reports. The idea is that wannabe homeowners can use the platforms to […]
More parents are helping their kids with down payments
April 17, 2018 by
Millennials are increasingly expecting their parents for greater help when it comes to housing. A report from Apartment List that surveyed 13,000 people born between 1981
Singles must save for 11 years to be able to afford the down payment on a home
February 20, 2018 by
What with prices soaring and inventories growing ever tighter, it’s becoming increasingly difficult for singles in particular to find an affordable home.
Saving For A Home: Heres a Few Tips
November 30, 2017 by
A good strategy to save the down payment and closing costs to purchase a home requires several steps. While saving money towards the down payment is always good, it’s not necessarily the place to begin. Your first house is probably the biggest investment you’ll ever make. Accomplishing it takes not only perseverance but also good […]
First-time buyers turn to crowdfunding, and lenders are backing it
October 9, 2017 by
Would be home buyers who can’t afford to save for a down payment are increasingly looking at crowdfunding options to fund their home purchases.
