Median home price: $99,300
Job growth rate: 2.2%
Unemployment rate: 6.3%
Home price to income ratio: 1.1
Do I Really Need 20% Down To Buy A House These Days?
One of the biggest challenges facing those of us helping homebuyers has been the constant negativity in the media. If you watch and/or listen long enough you’ll believe that nobody but the very rich can afford to buy a home today.
I was talking to Tyler Stalker with Liberty Mortgage and we decided to do our part to set the record straight.
According to Tyler, “Most home buyers are under the impression you have to have 20% down to purchase a home, which is FALSE! There are many programs available that provide for minimal to no down payment.”
Tyler provided these examples:
Conventional loans @ 5% to 10% down
FHA loans @ 3.5% down
USDA loans @ 0% down, available in outlying areas (not Nixa)
VA loans @ 0% down
Bond money backed loans @ 0% down (certain requirements apply)
“The media has put a damper on purchasing real estate but now is a great time to buy -- record low interest rates and homes listed at 2003 prices.”
I couldn’t agree more. If you’ve been thinking you can’t afford to buy, think again!
For more information or to get in contact with Tyler, just email or give me a call at 417-841-1101.
As always, I look forward to hearing from you soon and thank you in advance for any referrals you send my way!
All the best,
Want To Simplify Your Search?
Right now you can look at current listings on my website, gsbor.com, zillow.com and dozens of others. Unfortunately, most of these sites don’t allow you to be very specific in your search -- criteria that’s important to you like:
Elementary, middle and high school districts
Age of the home
Style -- (bungalow, ranch, 2-story)
Square feet (main level/upstairs/basement)
Lot size and/or acreage
Fencing and in-ground sprinklers
Specific rooms (formal dining room, office, etc.)
Subdivision amenities (swimming pool, tennis court, etc.)
Just about anything you really want or need
Because nearly all of the homes for sale in Greene, Christian and Webster counties are in my MLS system, I can send the listings that match your wish list directly to you. I can set you up on my Listing Notifications with your specific criteria and you''ll receive an email with new listings and price reductions the minute they come on the market -- you''ll know about them before most of the agents do!
It’s really simple -- you send me your wish list and the system will create a custom search of homes just for you. It''s free, there''s no obligation of any kind and you can update/change anything any time you want.
Are you interested in foreclosures? I get asked about “great deals” on foreclosures all the time. While there are some good buys out there, many of the properties that have been abandoned due to foreclosure have been vandalized -- in some cases by their former owners. Sometimes it''s just a hole in the wall or missing carpet but I’ve seen listings where the furnace, water heater, a/c unit or other valuable fixtures have been removed. Also, almost all of these properties are sold as-is. While you can do all of the inspections you want, the bank/owner is unlikely to do any repairs. This could have a serious impact on your ability to obtain financing for that property and lenders seldom provide a line of credit for remodels and repairs. I would recommend that you look at all the listings that meet your parameters so you can compare them all.
I hope you’ll find this service useful in the search for your next home or investment property.
Thanks for your time. I look forward to hearing from you soon!
All the best,
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