Thursday, November 21, 2024 / by Vic Markarian
With rising home prices and volatile mortgage rates, it’s important you know about every resource that could help make buying a home possible. And one thing you’ll want to be aware of is just how much the number of down payment assistance (DPA) programs has grown lately.
Take a look at the graph below to see how many new programs have been added in the last year, according to data from Down Payment Resource:
More Programs, More Opportunities for You
So, what does this increase mean for you? With more programs available, there’s a higher likelihood that one of them could help you reach your homeownership goals.
And these programs aren’t small-scale help either – the benefits can go a long way toward covering a chunk of your costs. As Rob Chrane, Founder and CEO of Down Payment Resource, shares:
“We are pleased to see a growing number of these programs, and think they are becoming a targeted ...
Read More
dont miss out on the growing number of down payment assistance programs, down payment assistance programs, home buying help, first-time homebuyer programs, affordable housing initiatives, down payment grants, homeownership benefits, real estate advice for buyers, mortgage assistance options, housing affordability tips, financial help for homebuyers
Thursday, June 20, 2024 / by Vic Markarian
There's no denying it's gotten more challenging to buy a home, especially with today's mortgage rates and home price appreciation. And that may be one of the big reasons you’re eager to look into grants and assistance programs to see if there’s anything you qualify for that can help. But unfortunately, many homebuyers feel like they don’t know where to start.
A recent Bank of America Institute study asked prospective buyers where they lack confidence in the process and need more information. And this is what topped the list:
53% said they need help understanding homebuying grant programs.
So, here’s some information that can help you close that gap.
What Is Down Payment Assistance?
As the Mortgage Reports explains:
“Down payment assistance (DPA) programs offer loans and grants that can cover part or all of a home buyer’s down payment and closing costs. More than 2,000k ...
Read More
home buyer, home buying process, homeownership, buying a home, tips to buy a house, buyer tips 2024, rent vs. buy, mortgage 2024, homeowner tips 2024, home equity 2024, what you need to know about today’s down payment programs
Thursday, June 13, 2024 / by Vic Markarian
If homeownership is on your goal sheet for your future, you’re probably working on your savings. And a big priority is making sure you’ve got a plan in place for things like your closing costs, down payment, and more.
Here are a few strategies that can help speed up that process.
Budget and Track Your Expenses: To start, create a detailed budget that tracks the money you’ve got coming in and the money going out. This’ll give you a better look at your finances as a whole.
Cut Down on Unnecessary Spending: Now that you have your budget sheet done and you know how you’re spending your money, look for any line items that aren’t absolutely essential. If you cut down on those, you can re-allocate that cash toward buying a home. Even the little things can add up. As the National Association of Realtors (NAR) says:
“The majority of first-time buyers did make financial sacrifices to purchase a homek ...
Read More
home buyer, home prices, home buying, savings strategies every first-time homebuyer needs to know, savings, down payment, closing costs, budget, expenses, side hustle, homebuying, first-time homebuyer
Thursday, December 14, 2023 / by Vic Markarian
If you’re looking to buy a home, your down payment doesn’t have to be a big hurdle. According to the National Association of Realtors (NAR), 38% of first-time homebuyers find saving for a down payment the most challenging step. But the reality is, you probably don’t need to put down as much as you think:
Data from NAR shows the median down payment hasn’t been over 20% since 2005. In fact, the median down payment for all homebuyers today is only 15%. And it’s even lower for first-time homebuyers at 8%. But just because that’s the median, it doesn’t mean you have to put that much down. Some qualified buyers put down even less.
For example, there are loan types, like FHA loans, with down payments as low as 3.5%, as well as options like VA loans and USDA loans with no down payment requirements for qualified applicants. But let’s focus in on another valuable resource that may be able ...
Read More
vic markarian realty team, real estate tips, home buyer, home buying process, home buying, real estate, buyer's market, homeownership, for buyers, first time home buyers, los angeles, glendale, down payment assistance programs can help pave the way to homeownership
Thursday, October 12, 2023 / by Vic Markarian
Are you thinking about making a move? If so, all the speculation that home prices would crash this year may have you feeling a bit on edge about your decision. Let the data and the experts reassure you. Prices aren’t in a downward spiral and will actually finish the year strong.
Even though you may have heard talk that prices would drop 5, 10, or even 20% this year, that hasn’t happened. The big reason why is the supply of homes for sale is too low. There are just more buyers looking to buy than homes available, and that’s kept prices from falling.
To prove this year wasn’t a bust for home prices, let’s look at the latest 2023 forecast from a number of experts.
Most Experts Project Home Prices Will Net Positive this Year
The general consensus from industry experts is that home price appreciation will actually be positive for 2023. The graph below shows the latest 2023 year-end forecasts from six ...
Read More
home seller, markarian realty team, vic markarian realty, markarian realty, selling homes, real estate, real estate expertise, competitiveness, market value, homeownership, real estate market 2023, for sellers, glendale, los angeles, luxury market, selling myths, housing market updates, how to price your home, down payments, interest rates, rent vs. buy, the latest expert forecasts for home prices in 2023
