7 Ways to Buy a Home Without a 20% Down Payment

Posted by Laine Smith on 2/28/16 12:35 PM

A major hurdle for some first-time homebuyers is coming up with the funds for a down payment or closing costs on their home purchase. According to a recent Bankrate.com survey non-homeowners were asked what percentage of the total cost they would need to contribute as a down payment on a potential home purchase. Nearly 2 in 10 said somewhere between 11% and 20%, while another 17% said between 6% and 10% down.

Even more notable, almost a quarter of non-homeowners said they had no idea how much they would need for a down payment to buy a home. Here are 7 loan options for eligible homebuyers who wish to buy with little to no money down.

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What the Typical Homebuyer & Seller Looked Like in 2015 (Infographic)

Posted by Laine Smith on 11/18/15 1:53 PM

The annual Profile of Home Buyers and Sellers by the National Association of REALTORS gives insight into the homebuying and selling experience. Highlights from the report include the decrease of first-time homebuyers in the housing market, the buying strength of dual-income couples, and the biggest hurdles buyers face in the financing process.

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Mortgage 101: Should I Pay Down Debt or Save For a Down Payment?

Posted by Laine Smith on 11/2/15 11:39 AM

Many potential homebuyers cite existing debt or saving funds for a down payment as hurdles in their homebuying journey. But what if you have existing debt and a low balance in your savings account? Where do you start?

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7 Biggest Homebuying Fears and How to Face Them

Posted by Laine Smith on 10/22/15 4:18 PM

Terrified of jumping into the homeownership circle? As with any large purchase, buying a home can be unnerving for someone who has little knowledge of the homebuying and financing process. Here's how to set some of those fears aside when thinking of buying a home.

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7 Bases to Cover Before Buying a House

Posted by Laine Smith on 10/21/15 1:39 PM

Buying a home is a huge financial committment and lifestyle change. Before you start looking for potential homes to purchase, there are several things you, as a homebuyer, should cover, including current financial standing, credit, and home affordability.

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Debt & Homeownership: Is Student Debt Really a Homebuying Obstacle?

Posted by Laine Smith on 10/20/15 2:42 PM

Roughly 40 million Americans owe a combined $1.19 trillion in student loan debt, but according to a new Zillow study, student loan debt doesn't impact homeownership probability as much as you'd think.

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10 Common Homebuying Myths Debunked

Posted by Laine Smith on 10/12/15 11:57 AM

Buying a home is a huge investment, making education essential. Here are several common myths surrounding buying and financing a home.

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Renting vs. Homebuying: 3 Effects of High Rent

Posted by Laine Smith on 10/7/15 11:56 AM

As rental vacancy hit its lowest point in 30 years in July 2015, the cost of renting has continued to rise. Rental prices climbed 3.5 percent between June 2014 and June 2015, matching the biggest jump since 2008, according to the U.S. Department of Labor. And at what cost for U.S. renters?

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How to Buy a Home Without a 20% Down Payment

Posted by Laine Smith on 9/17/15 8:00 AM

A major hurdle for some first-time homebuyers is coming up with the funds for a down payment or closing costs on their home purchase. Contrary to common belief, you don’t need a 20% down payment to purchase a home. Here are some of your options for buying a home with a low to no down payment option.

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Housing Market: Who Are the Millennial Homebuyers?

Posted by Laine Smith on 9/10/15 9:00 AM

Millennials are often a misunderstood and highly-discussed generation. This age group represents the largest generation in the U.S. with one-third of the nation's population in 2013. Millennials often get a bad rep in the housing market because of their unique set of homebuying obstacles. They're also set apart from previous generations by their different housing needs and wants

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