First time home buyers

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.

The Federal Housing Finance Agency in the Trump administration had been preoccupied with Fannie Mae and Freddie Mac’s capital position. Acting Director Sandra Thompson has shifted the agency’s focus to affordable housing and fair lending.

Measuring factors from affordability to quality of life, local lenders give insights to the top metro areas for new buyers, according to WalletHub.

The owners say they’re largely making the changes for their enjoyment rather than to increase the value of their property.

Forgoing traditional mortgages by buying homes outright is turning into a 2021 trend, and businesses are stepping in to facilitate these purchases.

Renters will need to reserve an additional $369 per month to keep up with rising listing prices over the next year, according to Zillow.

Though their rate of ownership lags behind preceding generations, millennial interest in purchasing property grew the most of any demographic last year, according to First American.

Remote workers looking across the country for an inexpensive house have a wide net to cast, but a few important socioeconomic factors can narrow the search.

Companies in the government mortgage market that serves low income, entry-level buyers are facing higher forbearance rates and more financial strain than others, making homeownership increasingly unattainable as credit remains tight.

The draft of the Downpayment Toward Equity Act of 2021 calls for grants for a limited segment of the market: those whose parents don't own homes.

The credit could cover the minimum down payment for the average Federal Housing Administration-insured mortgage in most large metropolitan areas.

As more borrowers between 21 and 40 leveraged the historically low mortgage rates in January, the average age rose to a report high, according to ICE Mortgage Technology.

Redfin expects the FTC to be more open to its proposal to buy RentPath than it was to CoStar’s earlier offer, Chief Financial Officer Chris Nielsen said.

The plan is aimed at low- and moderate-income communities, and may enable 60,000 individuals and families to purchase homes, the bank said in a statement Wednesday.

Though the pandemic recession has driven up the delinquency rate on Federal Housing Administration loans, the president's appointees are widely expected to reduce mortgage insurance premiums by at least 25 basis points to make home loans less expensive.

With Americans gobbling up homes in the suburbs, a scarce inventory of properties to purchase has met surging demand to drive up prices.

Investor concerns about a 25 basis point reduction taking business from private insurers might be overblown, but a 50 bp cut could affect an additional 10%-15% of the low down payment market, KBW said.

Housing values are outpacing record-low rates and that’s hurting the entry-level homebuyers, but down payment programs and other traditional measures to assist them may only drive prices to greater heights, according to former Freddie Mac CEO Don Layton.

The head of the Federal Housing Administration said Congress should consider whether to continue allowing the loan floor and ceiling to remain tied to changes in the conforming mortgage limit.