Homebuyer surveys report a big gap between perception and reality when it comes to down payments. And considering that saving for a down payment the number one challenge for new buyers, it’s probably time to brush up on your facts. keep reading
Category: real estate data
File this question under “it depends.”
It’s true that loans with down payments of 20 percent or more cost borrowers less over time than low down payment loans. Low down payments leave larger principals to pay off, and those principals create more interest over time. Low down payment loans also require mortgage insurance.
However, a low down payment itself can actually boost affordability by getting you off the sidelines and into a home of your own sooner. keep reading
As home prices rebound, rents increase and entry level inventory remains tight, more buyers—60 percent—say they are concerned about affordability, according to the National Association of Realtors 2017 National Housing Pulse Survey. But, 84 percent of Americans said that they still believe homeownership is a good investment. Do you agree? keep reading