How We Paid For Our Homes (Infographic)

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How badly do you want to own a home? What would you be willing to give up to achieve the American dream? Discover what sacrifices recent homebuyers made to purchase their homes, and whether they see the acquisition as a worthwhile investment.

Your credit history is an important factor in getting your mortgage approved. You can check your credit score and read your credit report for free within minutes using Credit Manager by MoneyTips.

The previous infographic in our Keys to Homeownership series showed the obstacles homebuyers faced in making their down payments. Part Five will present a profile of American homebuyers and their reasons for purchasing a …

First-Time Homebuyers Setting Records

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Prospective first-time homebuyers are facing stiff challenges as they enter today’s housing market – including finding an affordable home. A profound shortage of starter homes is limiting choices and raising home prices. According to Trulia, as of April 2018, the inventory of starter homes decreased 48.6% from six years prior while prices rose 57.9%.

Many would-be first-time buyers are millennials, saddled with student loan debt and struggling to save for a down payment. To make matters worse, the run of historically low interest rates appears to be over as the Federal Reserve gradually increases interest rates and mortgage rates follow suit.

According to data from Freddie Mac, first-time homebuyers are buying in record numbers despite thes…

How We Made Our Down Payments (Infographic)

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You may not need to make a down payment of 20% but putting together the down payment is still one of the most challenging steps in buying a home. Check out our infographic above to see what obstacles other recent homebuyers faced in trying to save for their down payments.

The smaller the down payment you can afford, the better your credit needs to be to secure your mortgage. You can check your credit score and read your credit report for free within minutes using Credit Manager by MoneyTips.

Part two in our Keys to Homeownership series revealed what made Americans fall in love with the homes they bought. Part four will focus on how homebuyers paid for their ho…

Home Prices Outpace Pay Increases

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Affordable Housing? What Affordable Housing?

Affordable housing is increasingly hard to find in today’s market. According to data from Trulia, America’s inventory of starter homes has decreased by almost half compared to six years ago while prices rose by almost 58%.

As consumers recovered from the housing crisis and Great Recession, more people became financially able to own a home. The existing supply was quickly consumed, leading to the current imbalance.

Recent polls suggest that affordable housing woes will continue through 2018 and beyond. According to a Reuters poll of property market analysts, home prices are expected to increase at almost double the rate of wages through 2018. Home prices are predicted to gain 5.7% more over the course of the year, while average annual earnings growth is predicted to be 2.8% – slightly above the predicted inflation rate of 2.5%.

At least inflation is expected to stay more in line with wages, hel…

4 Out Of 5 Young Borrowers Blame Student Loan Debt For Not Owning A Home

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A student loan can be your best friend or your worst nightmare. It can lead to an advanced degree that leads to a better job with higher pay and superior benefits. It can also be a millstone of debt keeping you from fulfilling other life goals – such as owning a home.

A recent survey from the National Association of Realtors (NAR) shows how pervasive the effects of student loans can be. According to the survey, 83% of millennials (age 22-35) who don’t currently own a home blame the delay on student loan burdens. The average delay in purchasing a home is seven years. Federal Reserve data shows that for every 10% increase in student loan debt, the odds of successful home ownership in the first five years beyond school drops by 1 to 2 percentage points. Given the $1.52 trillion total student loan debt reported b…

How We Chose Our Homes (Infographic)

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Is your home bigger than average? What made you fall in love with your home?

This infographic in our Keys to Homeownership series explores the factors that American homebuyers considered when choosing their homes. If you’re shopping for a home, or want to take cash out of your existing home, MoneyTips is happy to help you get free mortgage and refinance quotes from top lenders.

Last week’s infographic examined how Americans searched for their homes. Our next installment will focus on the challenges homebuyers face and how they finance their down payments. If you’re thinking about getting a mortgage, you should check your credit score and read your credit report for free within minutes using

Video: How To Get Lower Mortgage Insurance Premiums

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Is your mortgage lender insisting you get mortgage insurance? In our exclusive video above, Mortgage Advisor Casey Fleming explains how your premiums will be calculated and shares tips on how to get the lowest premiums possible. The higher your credit score, the lower your premiums will be.

You can check your credit score and read your credit report for free within minutes using Credit Manager by MoneyTips.

How We Searched For Our Homes (Infographic)

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Buying a home will probably be the most expensive item you ever purchase… until you buy the next one! MoneyTips is happy to help you get free mortgage and refinance quotes from top lenders.

Finding the right home at the right price is always a challenge. Discover how other American homebuyers searched for – and found – their homes in our infographic above, based on the latest report from the National Association of Realtors. See how this compares to our 2016 infographic on the subject.

Our next installment in the Keys to Homeownership series will look at how homeowners chose the homes they bought.

You can check your credit score and read your credit report for free within minutes using

Subprime Loans – Should You Take the Risk?

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Subprime Loans are Back

Since the housing crisis began over a decade ago, subprime mortgage loans basically disappeared – thanks to regulatory actions from government and self-preservation for both lenders and borrowers. The effects of borrowing more than you could safely afford to repay became obvious to all parties.

Subprime mortgage loans have been making a slow comeback over the last decade, driven by years of pent-up consumer demand and lending institutions competing for more business.

If you have borderline or poor credit (credit scores in the 580-669 range or below), lenders are devising new ways to offer you a mortgage loan. Are you ready to take advantage of these offers – and, even if you are, is a subprime loan the best choice for you?

Increased Risk But Greater Scrutiny

Data from the Mortgage Bankers Association (MBA) shows that during the first quarter of 2007, approximately 13% of all residential mortgage loans we…