2 Myths Holding Back Home Buyers

.Based on our recent survey of individuals planning to purchase a home in the next three years, nearly a third think they need to put more than 20% down." Myth #1: "I Need a 20% Down Payment" Buyers often overestimate the funds needed to qualify for a home loan. According to the same report:

So you put off applying, or you close the door on ever buying a home. Sound familiar? Many Americans say they want to be homeowners, according to Wells Fargo’s How America Views Homeownership survey.

2 Myths Holding Back Home Buyers. June 17, 2019; 1 comment ; Calvin Wright;. "For some, First Time home buyers, putting something aside for an initial down-payment is the biggest obstruction to accomplishing the objective of home ownership. A portion of those who wanted to buy a home were.

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2 Myths Holding Back Home Buyers.. Whether buying your first home or moving up to your dream home, knowing your options will make the mortgage process easier. Your dream home may already be within your reach. Post a Comment.

2 Myths Holding Back Home Buyers melissa field june 13, 2019 Freddie Mac recently released a report entitled, "Perceptions of Down Payment Consumer Research." Their research revealed that, "For many prospective homebuyers, saving for a down payment is the largest barrier to achieving the.

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2 Myths Holding Back Home Buyers.. Myth #2: "I Need a 780 FICO Score or Higher to Buy". Whether buying your first home or moving up to your dream home, knowing your options will make the mortgage process easier. Your dream home may already be within your reach.

Urban Institute recently released a report entitled, "Barriers to Accessing Homeownership: Down Payment, Credit, and Affordability," which revealed that, "Consumers often think they need to put more money down to purchase a home than is actually required. In a 2017 survey, 68% of renters cited saving for a down payment as an obstacle to homeownership.

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While there are many legitimate reasons to wait, there are also some common “barriers” that may be more perception than reality – particularly when it comes to myths about mortgages. Are some of these.

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