COVID-19 included, the biggest obstacle to home ownership remains the financing. For most, it’s saving the down payment. Especially if you haven’t owned a home before that builds equity to transfer as the down payment when you upgrade or move to another location (but that’s not a first time buyer). The Millennial Generation is having
Millennials underestimate the cost of a down payment
October 4, 2020 by
More millennials have been motivated by the COVID-19 pandemic to think about buying a home, but do they have enough money saved to go ahead and buy one? That was one of the questions posed by Point2Homes in a recent survey, which found that 74% of millennials, aged 25 to 40, say they’re interested in
10 Ways to Reduce the Cash You Need to Buy a Rental Property
July 11, 2020 by
Most of us would love to have five or ten rental properties generating passive income for us every month. Far fewer of us actually own any rentals, having bumped up against one tall barrier to entry: cash. It takes investment capital to build a portfolio of rental properties. Cash for the down payment, cash for
Bank of America offers up to $10K in down payment, closing fee assistance
April 7, 2019 by
The Bank of America has announced a new $5 billion affordable home initiative that aims to assist low- to moderate-income and multicultural buyers with down payments and closing costs. The BoA says it hopes its Neighborhood Solutions program will help more than 20,000 buyers enter homeownership within the next five years. The program includes both
How to Save Money for a Down Payment
March 23, 2019 by
Tired of renting? You’re not alone! We all dream of owning a home at some point in life. The only gap separating you and owning your dream house is saving money for a down payment. It is the toughest hurdle to surmount when buying a home. However, saving money for a down payment is easier
Millennial buyers struggle most to save a down payment
December 19, 2018 by
Saving for a down payment is the biggest hurdle to homeownership, and the size of that down payment sets the stage for the entire home shopping experience. It can make the difference between a monthly mortgage payment that’s affordable and one that stretches a household’s budget too thin. The 2018 Zillow Group Consumer Housing Trends
Here’s where you can get help with your down payment
December 6, 2018 by
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.
