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In a 2022 survey, the National Association of Realtors (NAR) found that 18% of first-time home buyers that year were unmarried couples — the highest percentage ever recorded.
Earlier this year, Freddie Mac conducted research that found that migrating to more affordable metros saves an average of $600 per month on mortgage payments, based on a 6% mortgage rate.
How Much Do You Need to Buy a $500,000 House? If you make a 20% down payment on a $500,000 home with a 7.03% APR for a 30-year mortgage, you’ll end up with a $2,669 monthly mortgage payment.
Buying a house is an expensive proposition for nearly everyone, but it’s particularly challenging for low-income Americans without a ton of money to spend. The median sales price of a U.S. home ...
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Ohio's 41.1% increase in the income needed to buy a home beats the national average of 45.5%. Utah has experienced the second-biggest increase since January 2020 in income required to purchase a ...
Fannie Mae’s HomeReady mortgage program addresses one of the challenges of buying a home with a low income by requiring just 3 percent of the home’s price as a down payment.
There's also been a recent rise in the share of unmarried couples buying homes. They made up 18% of first-time homebuyers in 2022, compared with 4% in 1985, according to a different NAR report .
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