Items Tagged with 'first time homebuyer'

ARTICLES

  • First-time homebuyers dominate mortgage market

    Continue to outnumber repeat buyers
    First-time homebuyers may be facing rising affordability issues, but they are still outpacing the share of repeat buyers in the housing market. This is nothing new, as first-time homebuyers have dominated the mortgage market for the past 10 years, but the latest data from the Urban Institute shows that gap actually continues to grow.
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  • Want to save up for a home? Say goodbye to 54% of your income for 6 years

    It will take the average renter 6 years saving 20% of their income to afford a 20% down payment
    According to research from Zillow affiliate Hot Pads, it will take the average U.S. renter more than six years to save up for a 20% down payment on a home. With rent now taking up an average of 34% of a renter's income and home prices on the rise, the dream of homeownership is becoming more and more distant for U.S. renters.
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  • Sponsored By
    Arch MI

    Arch MI provides first-time homebuyers with an affordable solution

    AMGC Community Program serves community heroes and community experts
    More than 11 million Americans now pay more than half their monthly income on housing, an increase of 30% over the past five years, according to the Monroe Group. High home prices and rising interest rates are fueling the affordable housing crisis, making it extremely difficult for first-time homebuyers.
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  • First-time homebuyers suddenly flood housing market

    Demand reaches highest level since 2000
    First time homebuyer demand surged to its highest level in 17 years during the third quarter of 2017. And for the first time since 2011, repeat homebuyer demand declined. The First-Time Homebuyer Market Report from Genworth Mortgage Insurance explains why first-time homebuyer demand continues to surge, even as other homebuyers wane.
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  • Genworth: 3% down mortgages key to lock in first-time homebuyers in 2018

    Where will credit expand in 2018?
    With overall mortgage originations projected to decrease in 2018, mortgage lenders are looking to first-time homebuyers to make up a large portion of their business. According to a new survey from Genworth Mortgage Insurance, the majority of lenders anticipate strong first-time homebuyer growth in 2018. So what type of mortgage products will they choose?
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  • Here’s what today’s first-time homebuyer looks like

    NAR breaks down who they are and what they want
    The National Association of Realtors produced an infographic that shows who the average successful first-time homebuyer is, and what they are looking for. While first-time buyers make up less of the market share historically, demand remains strong despite high home prices and rising interest rates.
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  • Industry advice: Homebuyer education benefits lenders, homeowners, and the industry

    Homebuyer education is money well spent
    [Expert commentary] When borrowers who seemed promising don’t qualify, what can lenders do? Many are using homebuyer education to give these borrowers a positive path forward. Homebuyer education can help borrowers improve their credit score and understand the long-term commitments of homeownership. It’s up to all of us professionals to spread the word about this.
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  • First time homebuyers fall to 4th lowest share since 1981

    Student debt amounts continue to increase
    Low inventory levels are keeping the younger generation from buying a home however, unsurprisingly, student loan debt also continues to play a major role in keeping first time homebuyers out of the housing market. What is shocking is the increase in student debt compared to other industries. But lenders, take note, first time buyers are increasingly considering lower down-payment options in order to buy a home.
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  • Hey first-time homebuyers! Chicago bank now offers high yield down payment savings account

    Offers account with 5% annual percentage yield
    Chicago-based Countryside Bank is rolling out a new program for first-time homebuyers in the area who need help saving for a down payment. Besides assistance from bankers who will help create a customized savings plan, the bank’s new program also includes the option of a high yield savings account that has an annual percentage yield of 5%.
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