First time home buyers

The way the Federal Housing Administration is funded and constrained by laws, rules and other operational limitations is analogous to the FHA living in the horse-and-buggy era in an age when we are starting to see driverless cars, writes the executive director of the Community Home Lenders Association.

Lawmakers approved the first $500 million for the program as a trailer bill to the fiscal 2023 budget. Bonds may be used to fill the gap.

Recent data from several organizations further highlights affordability challenges and souring consumer sentiment, while a growing number of economists think the market has peaked.

California could soon help first-time home buyers with their down payments and mortgage costs under a proposed $1-billion program to make homeownership more financially feasible for low- and middle-income residents.

Allowing VantageScore to compete in the mainstream mortgage market may help to close the racial homeownership and financial wealth gap by increasing homeownership opportunities for underserved populations, writes the president and CEO of HomeFree-USA.

For first-time buyers, mortgage payments jumped to 25.6% of household incomes in the fourth quarter, the worst affordability level in three years, according to the National Association of Realtors.

These suburbs offered easy access to both major metros and the outdoors, cozy neighborhoods and affordability, according to Realtor.com.

A lack of awareness about assistance programs and apprehension hold back many consumers who could otherwise afford to buy a home, according to a new survey.

The sharp increases of the pandemic era have added nearly a year to the amount of time the average consumer needs to save for a 20% down payment, according to Tomo.