Though there are more homes for sale now than there were at this time last year, there’s still an undersupply with fewer houses available than in more normal, pre-pandemic years.
Balancing Your Wants and Needs as a Homebuyer This Spring
Category: Buying Myths
Auto Added by WPeMatico
An Expert Gives You Clarity in Today’s Housing Market
The housing market has been going through shifts lately.
Buying a Home May Make More Sense Than Renting [INFOGRAPHIC]
![Buying a Home May Make More Sense Than Renting [INFOGRAPHIC] Simplifying The Market](https://files.keepingcurrentmatters.com/content/images/20230309/Buying-A-Home-May-Make-More-Sense-Than-Renting-KCM-Share.png)
Some Highlights
- If you’re trying to decide whether to rent or buy a home, there are a few things you should consider.
- Homeownership can help you escape the cycle of rising rents, builds your wealth, and serves as a hedge against inflation.
How To Make Your Dream of Homeownership a Reality
According to a recent Harris Poll survey, You May Not Need as Much as You Think for Your Down Payment [INFOGRAPHIC]
![You May Not Need as Much as You Think for Your Down Payment [INFOGRAPHIC] Simplifying The Market](https://api.simplifyingthemarket.com/wp-content/uploads/2023/02/You-May-Not-Need-As-Much-As-You-Think-For-Your-Down-Payment-KCM-Share.png)
Some Highlights
- Many people believe you need to put down 20% of the purchase price when you buy a home. But recent homebuyers actually put down far less on their purchase.
- And with programs like FHA loans, VA loans, and USDA loans, some qualified buyers are able to put down as little as 0-3.5%.
The 3 Factors That Affect Home Affordability
If you’ve been following the housing market over the last couple of years, you’ve likely heard about growing affordability challenges. But according to experts, the key factors that determine housing affordability are projected to improve this year. Selma Hepp, Executive, Deputy Chief Economist at CoreLogic, shares:Think Twice Before Waiting for 3% Mortgage Rates
Last year, the Federal Reserve took action to try to bring down inflation. In response to those efforts, mortgage rates jumped up rapidly from the record lows we saw in 2021, peaking at just over 7% last October. Hopeful buyers experienced a hit to their purchasing power as a result, and some decided to press pause on their plans.Key Terms To Know When Buying a Home [INFOGRAPHIC]
![Key Terms To Know When Buying a Home [INFOGRAPHIC] Simplifying The Market](https://api.simplifyingthemarket.com/wp-content/uploads/2023/01/Key-Terms-To-Know-When-Buying-A-Home-KCM.png)
![Key Terms To Know When Buying a Home [INFOGRAPHIC] | Simplifying The Market](https://api.simplifyingthemarket.com/wp-content/uploads/2023/01/Key-Terms-To-Know-When-Buying-A-Home-MEM.png)
Wondering How Much You Need To Save for a Down Payment?
If you’re getting ready to buy your first home, you’re likely focused on saving up for everything that purchase involves. One cost that’s likely top of mind is your down payment. But don’t let a common misconception about how much you need to save make the process harder than it could be. Understand 20% Isn’t […]Applying For a Mortgage? Here’s What You Should Avoid Once You Do.
While it’s exciting to start thinking about moving in and decorating after you’ve applied for your mortgage, there are some key things to keep in mind before you close. Here’s a list of things you may not realize you need to avoid after applying for your home loan. Don’t Deposit Large Sums of Cash Lenders […]