Affordability is the top concern for potential home buyers entering the summer season. That's not a surprise. With prices and mortgage rates up, it's natural that Americans who are hoping to buy might be leery when seeing news of rising housing costs. But, though affordability conditions are challenging in some markets, buyers may have some misconceptions that are adding unnecessary stress and anxiety. For example, according to the results of one recent survey, potential home buyers see saving for a down payment as the biggest obstacle preventing them from buying a house. But, at the same time, they overestimate the amount of money they'll need to put down in order to buy. The survey found 58 percent of participants said they are planning for a 20 percent down payment. But though that may be the recommended down payment amount, it isn't required. The National Association of Realtors, for example, found that the median down payment for first-time buyers has been at 6 percent for the past three years. In other words, though home buyers are right to take seriously the costs and responsibilities of becoming a homeowner, they may want to explore all of their options before deciding they can't afford to buy.
For buyers in Eastern, NC, they are finding that there are many programs in place to help first time buyers with down payments. There are also incentives in place to use as you choose. With so many programs in place this has made this area a popular place to buy a home in. To see some of the homes available in this area go to: https://www.firstcarolina.com/listings/ or join social media at: https://www.facebook.com/fcrhavelock/?notif_t=page_admin. More here.
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