Rates and Market Trends - US Mortgage Advisor

2024 Guide: Prequalifying for a Home Loan as a First-Time Buyer

Why First-Time Home Buyers Should Consider Prequalifying for a Mortgage When starting the home-buying journey, one of the first steps is often prequalifying for a mortgage. Prequalification gives you a rough estimate of how much home you can afford, allowing you to focus on properties within your budget. This step is usually quick and straightforward, […]

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39% of Home Buyers are Unable to Afford a 5% Down Payment.

Falling Affordability The housing market has become increasingly challenging for buyers in recent years. Intense competition and limited inventory drove prices higher, making it tougher for buyers to afford homes. As affordability declined, fewer borrowers could save enough for a down payment than in pre-pandemic years. In 2022, nearly 40% of prospective borrowers couldn’t manage