While the current housing market is considered more favorable to buyers than sellers by some mortgage industry leaders, plenty of obstacles remain for aspiring homeowners, especially those looking to buy new properties. Only 35.9 million out of a total of 132.5 million households are currently able to afford a newly built home based on 2022’s … [Read more…]
The shortage of entry-level homes and slow income growth could turn people off from homeownership, but the American dream of buying a home remains alive and well.
Learn how this budget plan works, how to put it into action, and if it’s the right fit for you.
A NerdWallet rent-to-income ratio analysis of 225 U.S. cities finds that, in January, 64% of rents on the market were at or above the recommended 30% ratio.
Knowing how various programs define “low incomeâ can help you get the financial assistance you need. Here’s a look at common approaches and a list of aid programs.
“The interplay between inventory, home prices and interest rates has been the defining characteristic of the housing market for the last two years, and this continues to be the case,” Walden said. “Today, we see buyer demand dampened under pressure from rising rates and their impact on affordability, with purchase rate-lock volumes cooling in late … [Read more…]
Did you know you can use a home loan for renovations? Renovation home loans cover the cost of purchasing and renovating a home. If youâre familiar with construction loans, renovation loans are similar. Also called âone-closeâ loans or renovation mortgages, renovation loans can offer buyers simplified financing for transforming a fixer-upper into an attractive, modernized […]
The post Can Home Loans Cover Renovations? What You Should Know appeared first on SoFi.
California mortgage relief: More help for homeowners CalMatters
Most Americans plan to retire, and those who do plan to retire expect to quit full-time work at age 57, on average, a new NerdWallet survey finds.