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 would it take you to save for a down payment in each state?
The media has extensively covered the rise in mortgage interest rates since last fall (from 3.42% last September to the current 4.1% according to Freddie Mac). However, a less covered aspect of the mortgage market is that requirements to get a mortgage have eased while rates have risen.
Fast Fact: Your tax dollars help support VA loans, an important and well-earned benefit for America’s military, including over 630,000 who bought homes this year alone! Finally it looks like recent efforts to raise awareness about a program to help our military personnel buy homes has paid off. Five years ago, fewer than 200,000 reached …