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Category: Down Payments

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Saving for a Down Payment? Here’s What You Need To Know.

Written by Key West Mortgage Syndicated User on . Posted in Down Payments, First Time Home Buyers, For Buyers, Key West Florida News, Key West News, Move-Up Buyers.

If you’re planning to buy your first home, then you’re probably focused on saving for all the costs involved in such a big purchase. One of the expenses that may be at the top of your mind is your down payment. If you’re intimidated by how much you need to save for that, it may be because you believe you must put 20% down. That doesn’t necessarily have to be the case. As the National Association of Realtors (NAR) notes:“One of the biggest misconceptions among housing consumers is what the typical down payment is and what amount is needed to enter homeownership.”And a recent Freddie...

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Keys to Success for First-Time Homebuyers

Written by Key West Mortgage Syndicated User on . Posted in Down Payments, First Time Home Buyers, For Buyers, Key West Florida News, Key West News.

Buying your first home is an exciting decision and a major milestone that has the power to change your life for the better. As a first-time homebuyer, it’s a vision you can bring to life, but, as the National Association of Realtors (NAR) shares, you’ll have to overcome some factors that have made it more challenging in recent years:“Since 2011, the share of first-time home buyers has been under the historical norm of 40% as buyers face tight inventory, rising home prices, rising rents and high student debt loads.”That said, if you’re looking to purchase your first home, here are two things...

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How To Make Your Dream of Homeownership a Reality

Written by Key West Mortgage Syndicated User on . Posted in Buying Myths, Down Payments, First Time Home Buyers, For Buyers, Housing Market Updates, Key West Florida News, Key West News, Move-Up Buyers.

According to a recent Harris Poll survey, 8 in 10 Americans say buying a home is a priority, and 28 million Americans actually plan to buy within the next 12 months. Homeownership provides many financial and nonfinancial benefits, so that interest is understandable.

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Financial Fundamentals for First-Time Homebuyers

Written by Key West Mortgage Syndicated User on . Posted in Buying Myths, Down Payments, First Time Home Buyers, For Buyers, Key West Florida News, Key West News.

Are you prepping to buy your first home? If so, one of the steps you should take early on is making sure you’re financially ready for your purchase. Here are just a few of the financial fundamentals you’ll need to focus on as you set out to buy a home. Build Your Credit Your credit is one element that helps determine which home loan you’ll qualify for. It also impacts your mortgage interest rate. While there are many factors that go into your mortgage application, a higher credit score could lead to a lower monthly payment in the long run. So how do you make sure your credit is in the best...

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Taking the Fear out of Saving for a Home

Written by Key West Mortgage Syndicated User on . Posted in Buying Myths, Down Payments, First Time Home Buyers, For Buyers, Key West Florida News, Key West News, Move-Up Buyers.

If you’re planning to buy a home, knowing what to budget for and how to save may sound scary at first. But it doesn’t have to be. One way to take the fear out of budgeting is understanding some of the costs you might encounter.  And to do that, turn to trusted real estate professionals. They can help you plan your finances and prepare your budget. Here are just a few costs experts say you can expect. 1. Down Payment Saving for your down payment is likely top of mind as you set out to buy a home. But do you know how much you’ll need to save? While each situation is different, there’s a common...

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Homeownership Could Be in Reach with Down Payment Assistance Programs

Written by Key West Mortgage Syndicated User on . Posted in Buying Myths, Down Payments, For Buyers, Key West Florida News, Key West News.

A recent survey from Bankrate asks prospective buyers to identify the biggest obstacles in their homebuying journey. It found that 36% of those polled said saving for a down payment is one of their primary hurdles to buying a home. If you feel the same way, the good news is there are many down payment assistance programs available that can help you achieve your homeownership goals. The key is understanding where to look and learning what options are available. Here’s some information that can help you. You Can Qualify Even if You’ve Purchased a Home Before There are several misconceptions about...

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