first time home buyers - Articles

Young Adults' Mobility at Its Lowest in 50 Years

Mark Humphrey/The Associated Press By Hope Yen WASHINGTON -- U.S. mobility for young adults has fallen to the lowest level in more than 50 years as cash-strapped 20-somethings shun homebuying and refrain from major moves in a weak job market. The new 2013 figures from the Census Bureau, which reversed earlier signs of... Continue Reading »

Son Surprises Mom With a Gift She Could Live In

#fivemin-widget-blogsmith-image-893165{display:none;} .cke_show_borders #fivemin-widget-blogsmith-image-893165, #postcontentcontainer #fivemin-widget-blogsmith-image-893165{width:570px;height:411px;display:block;} He was a college senior when he started saving for a down payment on a house. Just this fact alone... Continue Reading »

Today's Housing Market Making It Extra Tough on First-Time Homebuyers

By Kathryn Buschman Vasel If you're a first-time homebuyer in today's market, experts have a brief message for you: good luck. Traditionally, first-time homebuyers tend to be couples, in their mid- to early 30s with an established career and adequate savings to make the big purchase. But some of the faces making up this... Continue Reading »

More Young People Buying Homes but Settling for Less

The economic recovery has brought with it significant improvements in the national housing market. And now many consumers are in a better position to buy a home after dealing with many financial problems just a few years ago. But with that change comes shifting demographics of who homebuyers generally are, according to... Continue Reading »

Survey: Most Boomers Would Cover Kids' Down Payment

Baby boomers may be in a better position than most to buy homes, but not before helping Junior out of a bind. A national survey found that at least two-thirds of boomers age 45 and up want to help their children or grandchildren with a home down payment. The study, conducted by Meredith Research Solutions for Better Homes... Continue Reading »

Homeownership: From American Dream to Nightmare?

By Sheryl Nance-Nash Here's more evidence that the foreclosure crisis has changed the way we think about homeownership's place in the American dream. Nearly half of those polled in a newly released survey said that owning a home today was a "nightmare." Nearly 70 percent of those surveyed by Home Value Insurance Company... Continue Reading »

Home Sales on Pace for Dismal Year

WASHINGTON -- The number of Americans who bought previously occupied homes fell in September. Home sales are on pace to match last year's dismal figures -- the worst in 13 years. The National Association of Realtors said Thursday that home sales fell 3 percent last month to a seasonally adjusted annual rate of 4.91... Continue Reading »

Mortgage Rates Jump After Hitting Record Low

WASHINGTON -- The average rate on the 30-year fixed mortgage rose sharply this week after falling below 4 percent for the first time in history. Freddie Mac said Thursday that the rate on the 30-year fixed loan rose to 4.12 percent. That's up from 3.94 percent last week, the lowest rate ever, according to the National... Continue Reading »

How to Improve Your Odds of Getting a Mortgage

By Sheryl Nance-Nash More than 2.5 million people were turned down for mortgages in 2010, according to the Federal Financial Institutions Examination Council. That's about 23 percent of all those who are seeking a loan to buy a house. Compared to just a few years ago, the number is quite low -- but it's sure not because... Continue Reading »

Real Estate Commission: How Much Should You Pay?

In today's turbulent housing market, where supply outstrips demand and strict lenders hobble buyers, it pays to have an expert guide you through your home sale. But when the ink dries and the deal is closed, just how much of your hard-earned money should go toward the agent's commission? Not as much as you might think. Continue Reading »

Mortgage Shopping: What You Need to Know

While it's true that interest rates are near historic lows, not all home loans are created equal. Depending on the lender you choose, the type of mortgage you apply for, even the time of day you approach your lender, you could be quoted a different price for your mortgage. If you don't compare the rates of at least 3... Continue Reading »

6 Good Reasons to Buy a Home Now

1. Prices have nearly hit bottom. In most areas, most of the excess has finally been wrung out of the market. But if you're buying a first home or looking to trade up, there's no need to rush. Although prices may fall some more -- blame foreclosures still working their way through the system and tighter credit -- they... Continue Reading »

Fixed-Rate Mortages Slip to Six-Month Low

Lenders in the LendingTree Network saw rates on 30- and 15-year, fixed-rate mortgages plunge to a six-month low this past week, LendingTree said in a report Wednesday. The network of mortgage lenders said the average 30-year, FRM at LendingTree branches fell to 4.71 percent, while the 15-year FRM hit 3.99 percent for the... Continue Reading »

It takes a lot of vision--and more than a little chutzpah--to do what New Jersey homeowners Jeremy and Christina Gulish did. Where other house hunters saw only drab décor and outdated plumbing in their four-bedroom fixer-upper, this recently married couple saw opportunity. "The house was pretty bland," says... Continue Reading »

Home Buyers Spring Into Action, With Cash and Caution

Spring home buying season has officially sprung, as buyers reenter the market after a long winter. In the absence of another homebuyer tax credit, however, sales are not as robust as they were a year ago. Existing home sales, which includes single-family houses, condos, townhouses and co-ops, rose to 5.10 million in... Continue Reading »

When Mark and his wife married in 2007, their one-bedroom Brooklyn apartment was just what the newlyweds needed. But when home prices took a dip in their hip Brooklyn enclave, they knew it was time to make a move. "It was great at the time," Mark says, "but we knew that it was small and we definitely wanted more... Continue Reading »

Government Shutdown May Impact First-Time Home Buyers

The government shutdown that will occur if Republicans in Congress and President Obama can't come to terms on budget legislation by midnight tonight could hit the ailing spring home-buying market like a ton of paving stones. The Federal Housing Agency (FHA), a popular source of low-down-payment mortgages of as little as... Continue Reading »

Old Haunts, New Buyers: How to Handle 'Stigmatized' Properties

The New York Times reported today on an odd permutation of the buyer's dilemma: like the price, love the house, hate the fact that an elderly couple was brutally stabbed on the premises by their troubled son, who later jumped in front of an oncoming train. What's a homebuyer to do? There's a name for this not-so-unique... Continue Reading »

First Time Home Buyers: How to Beat the Odds

First time home buyers stand to benefit the most from today's slumping housing market. After all, they don't need to sell a house in order to buy one. AnnaMaria Andriotis at SmartMoney offers some valuable tips for first time home buyers braving a sea of new rules and regulations to achieve their dream this... Continue Reading »

First Time Home Buyers: Mortgage Tips for Right Now

First time home buyers usually have a huge learning curve to navigate when it comes to understanding mortgages. In the current housing market, mortgage literacy is even harder to come by, with new changes to the process emerging at a feverish pace. Tara-Nicholle Nelson of our sister site, Walletpop, has four new... Continue Reading »

First Time Home Buyers: Tips for Today's Market

Buying your first home is a big step and a huge investment. For first time home buyers, the process is never quick and easy, but today's low prices and lower interest rates are mighty tempting for those with a little liquidity and the cojones to dive into the market checkbook first. Hold on to your wallet though! The... Continue Reading »

Housing Market 2011 Forecast : The Appraisal Expert

What will the New Year hold for the U.S. housing market? It depends on who you ask. That's why AOL Real Estate has assembled an all-star panel of real estate mavens and moguls to discuss the questions that matter most to consumers. Should you buy, rent, sell or renovate in 2011? Will home values improve? Which way will... Continue Reading »

Case-Shiller: Home Prices Slump Across the Board

It may be a white Christmas, but all signs point to homeowners still treading in the red. Home prices in all 20 markets measured by the Case-Shiller Home Price Indices dropped in October, the latest month in which data was available. In fact, only the 10-City Composite and four metro areas, three of which are in... Continue Reading »

Secrets to Getting a Government-Backed Loan

Brandy and Tom Donahue, who always pay bills on time, didn't qualify under today's strict guidelines for a government-backed VA or FHA loan because of credit mistakes that were more than 10 years old. Even though the Veterans Administration doesn't require a specific credit score, banks now have set stricter rules. When... Continue Reading »

Best Black Friday Deal? A New Home

Come Black Friday, it's usually flat-screen TVs and high-tech appliances that consumers covet. But an article from Tara-Nicholle Nelson, a finance writer at our sister site, WalletPop, reminds us that the holiday season is also the perfect time to start house-hunting. With the winter selling lull just around the corner,... Continue Reading »

New Home Sales Tumble -- Again

New home sales dropped precipitously in October, very nearly tying for the worst month of sales in 2010. Home sales fell 8.1 percent to 283,000 units in October, down from 308,000 the previous month, the Commerce Department reported on Wednesday. The worst month in 2010 was August, when new home sales plummeted to 275,000... Continue Reading »

Fannie Mae to Sell Foreclosed Homes With Subprime Lending Terms

Thought those great low down-payment deals were gone? Think again. If you're willing to buy a home foreclosed by Fannie Mae through the new HomePath program, you may be able to purchase one with as little as 3 percent down. Even better, that 3 percent can be a gift from a family member or other third party, or a loan from... Continue Reading »

FHA Sets Credit Score Limits for First Time

The most flexible first-time homebuyer loan just became a bit more stringent. Starting Oct. 4, homebuyers must have a minimum credit score of 500 to be eligible for a Federal Housing Administration-insured mortgage. Borrowers seeking a single-family home mortgage with credit scores ranging from 500 to 579 will be limited... Continue Reading »

Key Video Takeaways Anu and Michael are young and their lives are still very much in transition. Michael is making his way through medical school -- and taking out a lot of student loans to do it. Anu is just starting her career, not making as much as she would like, and unsure how quickly her salary will grow... Continue Reading »

Key Video Takeaways David and Lia are like many of the 86.3 percent of college graduates who had to borrow money to pay for a four-year undergraduate education. Now they worry about how that might affect their chances for buying a home. The average cumulative debt of America's loan-taking undergraduates is $24,651,... Continue Reading »

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