Making the Best Cities for First-time Buyers Even Better

The housing market is improving in many cities across the country, but that also means it’s likely more competitive and challenging for first-time homebuyers. So, where are conditions best for newbie buyers?

LendingTree recently released a new study ranking the best and worst markets for first-time homebuyers. They looked at issues most critical to new buyers, including average down payment amount and percentage, share of median priced homes, share of buyers using an FHA mortgage.

We’re sharing how down payment programs in these best and worst markets may help buyers achieve homeownership even sooner. keep reading

Be a Savvy Homebuyer in Your Market

We all have that savvy friend. You know, the one who seems to have a resource, tip or connection for every hurdle in life. Do you have a go-to person for home buying? Fortunately, with a little research YOU could be that person for yourself and others in your life.

Research paid off for this New York buyer

Take a note from Kimberly Lewis, a textile and wallpaper designer, who bought her first place in Brooklyn after doing her homework, having a vision, and packing some extra patience until she found just the right place…at the right price. keep reading

What Does the New Tax Law Mean for First-Time Buyers?

With significant changes to the tax code taking effect this year, homeowners and prospective buyers are revising their plans to take advantage of its sweeping changes. Here’s an analysis based on information from the National Association of Realtors and NerdWallet.

Tax Rate Reductions. Joint filers with incomes of $77,400 to $400,000, which will include most first-time buyers, will see their tax rates decline from two to four percent when they file their 2018 taxes next year.

Mortgage Interest Rate. Changes in the mortgage interest rate—lowering the cap to mortgages worth one million to $750,000 from 1 million and excluding interest paid on home equity loans—would affect only the wealthiest first-time buyers directly. The changes will make second homes and equity loans more expensive for first-time buyers in the future. keep reading