Warning: mysql_result(): Unable to jump to row 0 on MySQL result index 4 in /home/newnha/public_html/subdomain/DanGrieb/blog-read.php on line 30

Warning: mysql_result(): Unable to jump to row 0 on MySQL result index 5 in /home/newnha/public_html/subdomain/DanGrieb/blog-read.php on line 34

Warning: mysql_result(): Unable to jump to row 0 on MySQL result index 6 in /home/newnha/public_html/subdomain/DanGrieb/blog-read.php on line 35

Warning: mysql_result(): Unable to jump to row 0 on MySQL result index 7 in /home/newnha/public_html/subdomain/DanGrieb/blog-read.php on line 36

Warning: mysql_result(): Unable to jump to row 0 on MySQL result index 8 in /home/newnha/public_html/subdomain/DanGrieb/blog-read.php on line 38

Warning: mysql_result(): Unable to jump to row 0 on MySQL result index 9 in /home/newnha/public_html/subdomain/DanGrieb/blog-read.php on line 40

Warning: mysql_result(): Unable to jump to row 0 on MySQL result index 10 in /home/newnha/public_html/subdomain/DanGrieb/blog-read.php on line 41

Warning: mysql_result(): Unable to jump to row 0 on MySQL result index 11 in /home/newnha/public_html/subdomain/DanGrieb/blog-read.php on line 42

Warning: mysql_result(): Unable to jump to row 0 on MySQL result index 12 in /home/newnha/public_html/subdomain/DanGrieb/blog-read.php on line 43

Warning: mysql_result(): Unable to jump to row 0 on MySQL result index 13 in /home/newnha/public_html/subdomain/DanGrieb/blog-read.php on line 44

Warning: mysql_result(): Unable to jump to row 0 on MySQL result index 14 in /home/newnha/public_html/subdomain/DanGrieb/blog-read.php on line 45

Warning: mysql_result(): Unable to jump to row 0 on MySQL result index 15 in /home/newnha/public_html/subdomain/DanGrieb/blog-read.php on line 46

Warning: mysql_result(): Unable to jump to row 0 on MySQL result index 16 in /home/newnha/public_html/subdomain/DanGrieb/blog-read.php on line 47

Warning: mysql_result(): Unable to jump to row 0 on MySQL result index 17 in /home/newnha/public_html/subdomain/DanGrieb/blog-read.php on line 48

Warning: mysql_result(): Unable to jump to row 0 on MySQL result index 18 in /home/newnha/public_html/subdomain/DanGrieb/blog-read.php on line 49

Warning: mysql_result(): Unable to jump to row 0 on MySQL result index 19 in /home/newnha/public_html/subdomain/DanGrieb/blog-read.php on line 50

Warning: mysql_result(): Unable to jump to row 0 on MySQL result index 20 in /home/newnha/public_html/subdomain/DanGrieb/blog-read.php on line 51

Warning: mysql_result(): Unable to jump to row 0 on MySQL result index 21 in /home/newnha/public_html/subdomain/DanGrieb/blog-read.php on line 52

Warning: mysql_result(): Unable to jump to row 0 on MySQL result index 22 in /home/newnha/public_html/subdomain/DanGrieb/blog-read.php on line 53
Builder Trade In Program - Builder Trade In Program - 2 Myths Holding Back Home Buyers

Builder Trade In Program


Warning: mysql_result(): Unable to jump to row 0 on MySQL result index 34 in /home/newnha/public_html/subdomain/DanGrieb/menu.php on line 3

Warning: mysql_result(): Unable to jump to row 0 on MySQL result index 35 in /home/newnha/public_html/subdomain/DanGrieb/menu.php on line 7

Warning: mysql_result(): Unable to jump to row 0 on MySQL result index 36 in /home/newnha/public_html/subdomain/DanGrieb/menu.php on line 12

Warning: mysql_result(): Unable to jump to row 0 on MySQL result index 37 in /home/newnha/public_html/subdomain/DanGrieb/menu.php on line 16

Warning: mysql_result(): Unable to jump to row 0 on MySQL result index 38 in /home/newnha/public_html/subdomain/DanGrieb/menu.php on line 20

Warning: mysql_result(): Unable to jump to row 0 on MySQL result index 39 in /home/newnha/public_html/subdomain/DanGrieb/menu.php on line 24

Warning: mysql_result(): Unable to jump to row 0 on MySQL result index 40 in /home/newnha/public_html/subdomain/DanGrieb/menu.php on line 28

Warning: mysql_result(): Unable to jump to row 0 on MySQL result index 41 in /home/newnha/public_html/subdomain/DanGrieb/menu.php on line 32

Warning: mysql_result(): Unable to jump to row 0 on MySQL result index 42 in /home/newnha/public_html/subdomain/DanGrieb/menu.php on line 36

Warning: mysql_result(): Unable to jump to row 0 on MySQL result index 44 in /home/newnha/public_html/subdomain/DanGrieb/menu.php on line 85
by Builder Trade In Program Jun 10, 2019

2 Myths Holding Back Home Buyers

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 goal of homeownership. Part of the challenge for those planning to purchase a home is their perception of how much they will need to save for the down payment…

…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:

22% of renters and 31% of homeowners believe lenders require 20% or more of a home’s sale price as a down payment for a typical mortgage today. And,

“If a 20% down payment was required, 70% of those who were planning to buy a home in the next three years said it would delay them from purchasing and nearly 30% indicated they would never be able to afford a home.” 

While many believe at least 20% down is necessary to buy the home of their dreams, they do not realize programs are available which permit as little as 3%. Many renters may actually be able to enter the housing market sooner than they ever imagined!

Myth #2: “I Need a 780 FICO® Score or Higher to Buy”

Many either don’t know or are misinformed concerning the FICO® score necessary to qualify, believing a ‘good’ credit score is 780 or higher.

To debunk this myth, let’s take a look at Ellie Mae’s latest Origination Insight Report, which focuses on recently closed (approved) loans.

As indicated in the chart above, 52.4% of approved mortgages had a credit score of 600-749.

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.

 

 

 

 

 

 

Tags:


Warning: mysql_result(): Unable to jump to row 0 on MySQL result index 52 in /home/newnha/public_html/subdomain/DanGrieb/footer.php on line 131