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Tag Archives: Down Payments

More College Grads Moving Back Home

Recent college graduates are more frequently living at home in expensive cities—and cities those that have seen the biggest boom-bust cycles—according to a new report from Zillow. That means recent grads in Riverside, California; Miami; and New York are the ...

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High Down Payments Alter Young Homebuyer Priorities

Many young homebuyers are more focused on personal achievements, such as dream jobs and travelling, than “traditional,” long term life milestones, such as marriage and parenthood. Shifting priorities along with high down payments and the amount of time required to save for these payments are among the reasons why millennials aren't quite settling yet.

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High Rents Put Would-Be Homebuyers in a Catch-22

Most renters are putting about 30 percent of their monthly income toward their rental payment, which makes saving for a 10 or 20 percent down payment difficult. This conflict forces first-time buyers and millennials to pursue other options when looking to purchase a home, such as help from family or friends.

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Homeownership Still Holds Promise for Nine in 10 Americans

Even as the aftermath of the housing crisis continues to show in the market, a new survey shows the vast majority of Americans still regard homeownership as a "highly desirable goal." In findings released Tuesday, COUNTRY Financial revealed 89 percent of Americans in its most recent Security Index survey feel that buying a home is a key part of achieving the American Dream despite their recent memories of the crash.

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Mortgages Suffer from Misconception about Down Payments

There's a pervasive view held by younger consumers when considering whether to purchase a home or not, according to Freddie Mac's Christina Boyle. She believes that consumers persistently overestimate the size of a down payment they need in order to finance a home, and this lack of education is harming the housing market.

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Survey: Mortgage Insurance Costs Negatively Impacts Homeowners

New Homes

According to research results put out by TD Bank, 37 percent of homeowners who purchased within the last decade required mortgage insurance. Looking at just the last two years, that number is up to 43 percent, reflecting the troubles buyers are having meeting normal down payment minimums as home prices march up.

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