The Aspiring Home Buyers Profile from the National Association of Realtors (NAR) found that the American public is still somewhat confused about what is required to qualify for a home mortgage loan in today’s housing market. The results of the survey show that non-homeowners cite the main reason for not currently owning a home, as not being able to afford one.
The American Dream, for many, includes being able to own a home of one’s own. With the economy improving in many areas of the country, that dream can finally become a reality.
The Tour of Homes Kicks of at Woodcreek Farms June 10 at our Model home with a Fabulous Grill out for our customers!
Factors That Influence Price in Columbia
The city continues to see steady growth since the recession, which indicates a slow increase in home prices. When looking at Columbia home buying trends, there are various factors that affect the price in Columbia, some of which include home size and location. Given the demographic of Columbia, single-family homes and condominiums tend to sell the quickest in the city. Additionally, school districts will play a major role in neighborhood popularity, which can also affect home prices.
Down Payment – This is a portion of the cost of your home that you pay upfront to secure the purchase of the property. Down payments are typically 3 to 20% of the purchase price of the home. There are zero-down programs available through VA loans for Veterans, as well as USDA loans for rural areas of the country. Eighty percent of first-time buyers put less than 20% down last month.