Many First-Timers Considering Buying a Home This Spring
An article concerning a survey from earlier this month shows that among prospective first time home buyers shows that 78% said that now is a good time to buy a home, despite widespread concern about the economy.
Prices emerged in the online survey as the primary driving force for prospective first-time buyers, with 85% saying they consider current homes prices affordable and 73% saying that taking advantage of current pricing would be a major factor in their decision to buy.
More than three-quarters of those polled — 77% — said they are more likely to buy a home in the next six months because of the $8,000 first-time buyer credit.
The article quotes that home buyers who have a stable job history of at least two years, solid credit (620 and above) and downpayment money that can be documented (3.5% on FHA loans) are well positioned to secure a mortgage in today’s credit environment.
Prices emerged in the online survey as the primary driving force for prospective first-time buyers, with 85% saying they consider current homes prices affordable and 73% saying that taking advantage of current pricing would be a major factor in their decision to buy.
More than three-quarters of those polled — 77% — said they are more likely to buy a home in the next six months because of the $8,000 first-time buyer credit.
The article quotes that home buyers who have a stable job history of at least two years, solid credit (620 and above) and downpayment money that can be documented (3.5% on FHA loans) are well positioned to secure a mortgage in today’s credit environment.
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