Are you on the sideline because you are unsure if you can qualify to buy a home? The sideline is not the place to be. Bottom line is you do not go for it, you just will not know. The sad thing is that there is a lot of information out there that is either old or just plain wrong. It has gotten much easier to qualify. We will address that in the next few paragraphs. Before you continue reading, have a look at the chart in today’s report (just click on the link above). Then, continue reading and get the latest information so you can begin the journey to buying your first home. (If you are reading this a few years from now, check our more current posts because we are going to keep on reporting about buying a home)
Did you know that 61% of first time buyers actually put down LESS than 6%? That is one reason you should not disqualify yourself if you think more is required. There is incorrect information floating around that you must have 20% down – and that is simply not true! Again, sounding like a broken record – you will not know if you do not try! And, today is a good day to try. We will help.
Lower credit scores are being qualified too! It is not crazy like it was just before the market meltdown, but it is lower requirements than just a short time ago. This one is going to fluctuate so we are going to go back to the point being – go for it! That is how to find out if you qualify and if you don’t, what you need to do so that you can.
Time on market is at a new low and that means there are more folks buying and qualifying than there are houses becoming available to buy. It also means prices are being pushed higher (supply vs demand). It also suggests that action is required to become an owner and use the price increases to increase your personal wealth. Unlike money in the bank that pays you interests only on the amount in the bank, a home earns appreciation on the total value of the home. You may invest $10,000 in a home priced at $150,000 but you will be earning appreciation on the $150,000. The bank would only pay you interest on the $10,000!
Checkout todays’ report (click the link above) and find out how a house starting at $250,000 becomes a house of almost $295,000 in five years! Now what does THAT do your four personal wealth? Start in 2018 and grow your future – become a homeowner!
America is said to be a melting pot – and IMO – we are! It means there are a lot of different opinions out there and on many different subjects! Getting Americans to agree close to 100% on something is no easy accomplishment. Yet, 93% of us fully agree that Homeownership is important in achieving the American Dream. Are you ready to fulfill your dream? Call me, Al.