Renewed interest in housing counseling is revealing that many are considering homeownership as a possibility for the first time. More than 73,000 people received housing counseling from National Foundation for Credit Counseling (NFCC) member agencies during 2014, making it the highest volume experienced in the past five years. “Seeing that more people are realizing the value of housing counseling is a sign …
Check out these first time home buyer statistics. Maybe you are included in one of them.
When buying a first home, most people are making one of the biggest purchases of their lives. Without home buying experience, it’s hard to separate fact from fiction. “Buying a first home can be exciting and stressful for most young buyers, especially the financing process,” says Clete Thompson, vice president at imortgage, a division of loanDepot LLC. “There’s a lot of …
Real estate shows, especially those featuring pricey properties, often appeal to viewers on an aspirational or voyeuristic level. It’s all about seeing beautiful homes and properties that people might not get to see. However, those beautiful properties aren’t always what they seem. Last year, a Texas couple who appeared on “House Hunters” revealed that two of the houses they toured …
With uncertainty over mortgage rates growing and new Fannie- and Freddie-backed programs rolling out next year, those seeking to buy a home will continue to contend with changing standards. If you’re planning to become a homeowner, take these steps before borrowing.
The Federal Housing Administration (FHA) recently announced the agency’s new schedule of loan limits for 2015. These loan limits are effective for case numbers assigned on or after January 1, 2015, and will remain in effect through the end of the year. FHA’s calculation for maximum loan limits in high cost metropolitan areas of the country will remain the same as …
Money worries know no age limit, and financial health is important for everyone – which could explain why financial pledges are among the most common New Year’s resolutions. Still, Millennials are a bit more likely than any other age group to be tempted into spending too much, according to research by the Barna Group.
Owning a home is part of the American Dream, yet standards on income, credit and debt are making it tougher to buy a home than it was 10 years ago. Even though requirements are relaxing, only three out of five borrowers get approved. While stricter standards make it tougher for young families to qualify for a mortgage, millennials said they …
Searching for a home can be a frustrating process. You might love the kitchen but hate the bathroom. The master bedroom might not have the walk-in closets you desire, or maybe you were hoping to add a play room for the family, but none of the rooms in the houses you’re looking at have enough space. If you find yourself …
