FIRST TIME BUYER?

WE'RE HERE TO HELP

READY:

PRE-APPROVED?

REALISTIC?

You can get a home with as little as 1% down.
We don't recommend it, because it shows you might be in over your head, but Chase, B of A and other big banks are quietly offering these low-down loans.

Lenders want you to look at homes with mortgages that will cost 28% of your before-tax income...

The Federal Housing Authority has a cap of 31% on the ratio between your mortgage expenses (including insurance, deposits, taxes, and homeowners dues) and your gross income in order to qualify for a loan

If the mortgage payments plus monthly costs for your other loans — anything from student debt to car loans — add up to more than 43% of your income, then FHA won't insure your loans.

Homebuyer Facts

• 35% of all buyers were millennials.
• The typical buyer was 44 years old, and median household income of $86,100.
• 80% of homeowners think now is a good time to buy. Only 62% of renters agree.
• Avg. Down Pmt: 7% for millennial buyers to 21% for older boomers and the Silent Generation.

87% of millennials and Gen X buyers used an agent, and they were also the most likely to use mobile or tablet applications and mobile or tablet search engines during their search.

Millennial homebuyers in this year’s survey earned $77,400 and they typically bought a 1,720-square foot home costing $187,400 ($180,900 a year ago).

The typical Gen X buyer was 42 years old, had an income of $104,700 ($104,600 a year ago) and typically bought the largest home compared to other generations (2,200-square feet), costing $263,200

The biggest factors influencing neighborhood choice, millennials were most influenced by the quality of the neighborhood (63 percent) and convenience to jobs (60 percent).

Untitled Slide

Don't try to pull any fast ones with your lender. Large deposits, job changes, gifts and much more all need to be accounted for with the lender.

Once you are in escrow, do NOT buy anything over $200. Seriously. DON'T sign up for any kind of new credit either. This will delay your loan approval.

The typical home that was recently purchased was 1,900 square feet, had three bedrooms and two bathrooms, and was built in 1991.

People have been renting in urban areas, but buying in the suburbs.

IT CAN GET COMPLICATED

Expect to spend another 3-8 weeks placing offers and hoping yours is accepted.

AND YOU'RE BUSY..

87% of buyers
used a Realtor

We've got great tech tools to help you. We have time
and patience.
We have your back.

CALL NOW.