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@arneeenggg: Sure nani? Haha
ELLI 🇵🇭
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Region: PH
Thursday 14 May 2020 13:13:27 GMT
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Despite the stubbornly higher interest rates, mortgage applications are on the rise. So, what seemed to trigger this change in the market? Well, the average interest rate for a 30 year fixed rate mortgage slightly dipped to around 7.02% and now first time home buyers seem to be jumping in especially those eyeing FHA loans. Which is nuts because it seems like even the slightest rate change in this market will activate buyers. What do you think this will do to the market? #realestate #mortgage #mortgagemarket #realestatemarket #mortgagerates #homebuyer #firsttimehomebuyer
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If you're a Millennial struggling with the down payment hurdle on your path to homeownership? You're not alone. According to Bankrate.com, 53% of millennials aged 34 to 42 cite down payment and closing costs as the primary obstacles. Let's break down the numbers: Consider a $500,000 home with varying down payments—3.5%, 10%, and 20%. Crunching the figures reveals the impact on your monthly mortgage payments and out-of-pocket expenses. While a larger down payment can lower your monthly mortgage commitment, it also requires much more money out of pocket. Balancing these factors is key to finding the right fit for your financial situation. Millennials, do you feel the down payment is a major factor in not buying a home? Comment below #HomeBuying #DownPaymentDilemma #FinancialPlanning #millenials
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