Items Tagged with 'Down payment'

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  • Top 5 cities where a down payment is least affordable

    Survey reveals worst cities for first-time homebuyers
    A RealEstate.com survey highlights where first-time homebuyers are bound to have the most trouble saving for a 20% down payment. Using data on income and savings for residents ages 24 to 36, it analyzed the biggest 35 metros and the results are slightly alarming. One fun fact: It could take the average Millennial in Portland more than 13 years to afford a house.
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  • From HW Magazine

    Outside the classroom

    Teaching Millennials that student loan debt doesn't have to delay the American Dream
    The conversation around student loan debt and its economic impact on Millennials, those born from 1980 to 1998, has some questioning whether the future of the American Dream is in jeopardy. The nation’s student loan debt has soared to $1.4 trillion, surpassing credit cards in becoming the largest source of personal debt outside a mortgage.
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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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  • Wells Fargo offering down payment grants to boost homeownership in Kansas City area

    Bank commits $5.7 million through NeighborhoodLIFT program
    Prospective homebuyers in the Kansas City area will have the chance to get a $15,000 down payment grant from Wells Fargo, as the bank announced Monday that it is bringing its NeighborhoodLIFT program back to the area. According to John Santner, regional vice president of the Midwest region for NeighborWorks America, the Wells Fargo program will help create more than 300 new homeowners in the area.
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  • Employers can now contribute to their employees’ down payments, just like a 401(k)

    HomeFundMe, a crowdfunding down payment site, expands
    Many employers offer a number of benefits as a way to entice new employees to join the company, including health insurance, paid time off, and contributions to the employees’ 401(k) account. While employees may not see the benefits of their 401(k) until they retire, employers can now offer a new benefit that employees will be able to use much sooner – help with a down payment on a house.
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  • State of U.S. interest rates, broken down by credit scores

    Here are the interest rates for those less-than perfect scores
    The last report from Freddie Mac shows the average 30-year fixed-rate mortgage interest rate came in at 3.95%, but what about for borrowers with less-than-perfect credit scores? LendingTree recently conducted a study which analyzed the actual rates lenders offered to borrowers to see the average interest rate broken down by credit scores.
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  • Down payment insurer ValueInsured raises $6.5 million to fund growth

    Funding led by Everest Re Group, Houston International Insurance Group
    ValueInsured, a company that provides down payment insurance for borrowers, announced Wednesday that it raised $6.5 million to fund the company’s growth. Through ValueInsured's +Plus down payment insurance program, borrowers pay a premium to ValueInsured in exchange for having their down payment insured against a downturn in the housing market should they decide to sell their home.
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  • Stearns Lending begins offering $1 million+ loans with only 10% down

    Loans also do not require mortgage insurance
    Last week, Stearns Lending announced that is was expanding by acquiring the mortgage production channels of Primary Capital Mortgage. On Wednesday, Stearns Lending announced another expansion, but this one isn’t an acquisition. Rather, Stearns is expanding its loan offerings to include a new mortgage offering for borrowers looking for million-dollar houses.
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