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how much do I need to save for a down payment
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How Quickly Can You Save Your Down Payment?

Saving for a down payment is often the biggest hurdle for a first-time homebuyer. Depending on where you live, median income, median rents, and home prices all vary. So, we set out to find out how long it would take to save for a down payment in each state. Using data from HUD, Census and Apartment List, we determined how long it would take, nationwide, for a first-time buyer to save enough money for a down payment on their dream home. There is a long-standing ‘rule’ that…

Affordable mortgage loan programs for first time home buyers
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Can a Mortgage Really Be Affordable?

Can a Mortgage Really Be Affordable? Guest Post by Tim Britt Last month I started a discussion about the different categories of mortgage programs.  Mortgage Loans can easily be broken down into 3 broad categories:  Traditional, Affordable, and Specialty.  This month, I’ll talk about Affordable Mortgage Loan Programs, and some of the features of them. Affordable Mortgages are loan programs backed by government agencies, or specially designed by Fannie Mae and Freddie Mac (Conforming Loan Programs) to be affordable in…

Financial and Social Benefits of becoming a homeowner
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What are the Benefits of Becoming a Homeowner?

What are the Benefits of Becoming a Homeowner? Every family has a list of important dates. We celebrate birthdays, anniversaries, pet adoptions…and the list goes on. For 64.4 percent of households in the United States, this list includes the day they became a homeowner for the first time! Why is this date important? Homeownership is not just a roof over your head! It represents shelter, stability, wealth, and pride! For decades, homeownership has been an important part of the American Dream! However,…

How to buy a house
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Are You a First-Time Homebuyer?

Are You a First-Time Homebuyer? Guest Post by Tim Britt Purchasing a home can be a daunting endeavor, even for those who may have done it many times previously. Home ownership can represent so many different things to individuals and families; depending on the particular stage of life they’re in. For those embarking on this journey for the first time, I thought I’d share a few tips and things to consider as you begin the process. Even those who may…