Last Friday, the Bureau of Labor Statistics released a very encouraging jobs report. The economy gained 916,000 jobs in March – well above expert projections of 650,000 to 675,000.
2 Of The Biggest Myths Stalling Homebuyers
Dated: June 10 2019
“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”
“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.”
Myth #2: “I Need a 780 FICO® Score or Higher to Buy”
I specialize in residential sales, purchases, luxury homes, rentals and investment properties. I am an 11 year resident of Hoboken, New Jersey and the Gold Coast, with the local knowledge needed to pr....
Latest Blog Posts
Last year started off with a bang. Unemployment was under 4%, forecasters were giddy with their projections for the economy, and the residential housing market had the strongest January and