The lowdown on low-down payment mortgages
The new Community Affordable Loan Solution, Bank of America’s “no-down” mortgage program, is only one of a growing number of no- and low-down payment mortgage options.
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The new Community Affordable Loan Solution, Bank of America’s “no-down” mortgage program, is only one of a growing number of no- and low-down payment mortgage options.
Three simple steps for first-time homebuyers to follow, especially in a competitive market
Prices still projected to rise – but stable for now Recent real estate headlines might look a little bleak, with descriptions like “plunging” home prices and a “slumping” market. But are they really? Let’s start with the market: Yes,…
If you are looking to restart your search for a home, it can be tempting to jump straight into getting a pre-approval. But you may want to spend some time sorting out your finances first, as it’ll give you a more realistic snapshot of what you can afford in a fast-changing market.
Should you rent or buy? Rents have risen significantly in many cities, along with home prices and mortgage rates. But high rates don’t automatically make it a bad time to buy.
August 5, 2022. What the market’s ‘new normal’ means for buyers. Mortgage rates dipped slightly even after the Fed raised interest rates again last week – further illustrating that the market is driven by a range of macroeconomic factors (and not solely by inflation).
July 29, 2022. The new normal. We saw new data from the National Association of Realtors that purchase contracts dropped by 8.6% in June – the lowest since 2011. We also saw the Federal Reserve raise interest rates again in a continued effort to curb inflation.
What does affordability mean to you? A list of the “Top 10 Affordable Cities for Middle-Class Homebuyers” certainly sounds promising for homebuyers chasing affordability – but what does that actually mean?
July 15, 2022. Last month, nearly 15% of purchase agreements in the U.S. fell through before closing – a possible signal that buyers are gaining more negotiating power amid the market slowdown.
July 8, 2022. Rates are volatile this week, heading up mid-week after dropping for two weeks in a row on the heels of some positive inflation data.