Owning Is More Affordable than Renting in the Majority of the CountryIf you were thinking about buying a home this year, but already pressed pause on your plans due to rising home prices 

Dated: April 22 2020
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Urban Institute recently released a report
entitled, “Barriers to Accessing Homeownership: Down Payment, Credit, and Affordability,” which revealed that,
Buyers often overestimate the down payment funds needed to qualify for a home loan. According to the same report:
These numbers do not differ much between non-owners and homeowners. For example, “30% of homeowners and 39% of renters believe that you need more than 20 percent for a down payment.”
While many believe that they need at least 20% down to buy their dream homes, they do not realize that there are programs available which allow them to put down as little as 3%. Many renters may actually be able to enter the housing market sooner than they ever imagined with programs that have emerged allowing less cash out of pocket.
Similar to the down payment, many either don’t know or are misinformed about what FICO® score is necessary to qualify.
Many Americans believe a ‘good’ credit score is 780 or higher.
To help debunk this myth, let’s take a look at Ellie Mae’s latest Origination Insight Report, which focuses on recently closed (approved) loans.
As you can see in the chart above, 51.7% of approved mortgages had a credit score of 600-749.
Whether buying your first home or moving up to your dream home, knowing your options will make the mortgage process easier. Your dream home may already be within your reach.
Owning Is More Affordable than Renting in the Majority of the CountryIf you were thinking about buying a home this year, but already pressed pause on your plans due to rising home prices 
We’re in the midst of the five-year period (between 2019 and 2023) in which the five largest millennial birth years (between 1989 and 1993) are hitting the all-important first-time home buying
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