This is National Home Ownership Month, and according to a recent bank rate survey, 83% of U.S. adults who want to own a home cite affordability-related reasons as the primary barrier.
However, there are still some smart, strategic ways to navigate today’s market and achieve home ownership. Jeanette Snyder with REMAX told us more.
“We’ve had rising home prices for a number of years and over the last few years, those mortgage interest rates popped up from the historic lows and both of those things combined absolutely can put pressure on home buyers,” Snyder said. “There are definitely some things that buyers can do. Maybe you start with talking to a lender about are there some loan options or even things like FHA and VA loans versus the conventional and just get all of the options that they may find there’s more assistance out there than they thought possible.”
Snyder says you can also strengthen your offer by obtaining a pre-approval from your you can also strengthen your offer by obtaining a pre-approval from your lender.
