Down Payments

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Keys to Success for First-Time Homebuyers

May 31, 2023

Down Payments, First Time Home Buyers, For Buyers

Posted by Robin Taylor Roth

Buying your first home is an exciting decision and a major milestone that has the power to change your life for the better. As a first-time homebuyer, it’s a vision you can bring to life, but, as the National Association of Realtors (NAR) shares, you’ll have to overcome some factors that have made it more challenging in recent years:“Since 2011, the share of first-time home buyers has been under the …

Your Tax Refund Can Help You Achieve Your Homebuying Goals

April 12, 2023

Buying Myths, Down Payments, First Time Home Buyers, For Buyers, Housing Market Updates, Move-Up Buyers

Posted by Robin Taylor Roth

Have you been saving up to buy a home this year? If so, you know there are a variety of expenses involved – from your down payment to closing costs. But there’s good news – your tax refund can help you achieve your goals by paying for some of these expenses.SmartAsset estimates the average American will receive a $1,798 tax refund this year. The map below provides a more detailed …

How To Make Your Dream of Homeownership a Reality

February 23, 2023

Buying Myths, Down Payments, First Time Home Buyers, For Buyers, Housing Market Updates, Move-Up Buyers

Posted by Robin Taylor Roth

According to a recent Harris Poll survey, 8 in 10 Americans say buying a home is a priority, and 28 million Americans actually plan to buy within the next 12 months. Homeownership provides many financial and nonfinancial benefits, so that interest is understandable.

Wondering How Much You Need To Save for a Down Payment?

January 3, 2023

Buying Myths, Down Payments, First Time Home Buyers, For Buyers

Posted by Robin Taylor Roth

If you’re getting ready to buy your first home, you’re likely focused on saving up for everything that purchase involves. One cost that’s likely top of mind is your down payment. But don’t let a common misconception about how much you need to save make the process harder than it could be. Understand 20% Isn’t Always the Typical Down Payment Freddie Mac explains: “. . . nearly a third …

Financial Fundamentals for First-Time Homebuyers

December 26, 2022

Buying Myths, Down Payments, First Time Home Buyers, For Buyers

Posted by Robin Taylor Roth

Are you prepping to buy your first home? If so, one of the steps you should take early on is making sure you’re financially ready for your purchase. Here are just a few of the financial fundamentals you’ll need to focus on as you set out to buy a home. Build Your Credit Your credit is one element that helps determine which home loan you’ll qualify for. It also …

VA Loans: Making Homes for the Brave Achievable [INFOGRAPHIC]

November 11, 2022

Buying Myths, Down Payments, First Time Home Buyers, For Buyers, Infographics, Move-Up Buyers

Posted by Robin Taylor Roth

Some Highlights VA Loans can help make homeownership possible for those who have served our country. These loans offer great benefits for eligible individuals and can help them buy a VA-approved house or condo, build a new home, or make improvements to their house. Homeownership is the American Dream. One way we can honor and thank our veterans is to ensure they have the best information about the benefits …

VA Loans Can Help Veterans Achieve Their Dream of Homeownership

November 10, 2022

Buying Myths, Down Payments, First Time Home Buyers, For Buyers, Move-Up Buyers

Posted by Robin Taylor Roth

For over 78 years, Veterans Affairs (VA) home loans have provided millions of veterans with the opportunity to purchase homes of their own. If you or a loved one have served, it’s important to understand this program and its benefits. Here are some things you should know about VA loans before you start the homebuying process. What Are VA Loans? VA home loans provide a pathway to homeownership for …

Taking the Fear out of Saving for a Home

October 31, 2022

Buying Myths, Down Payments, First Time Home Buyers, For Buyers, Move-Up Buyers

Posted by Robin Taylor Roth

If you’re planning to buy a home, knowing what to budget for and how to save may sound scary at first. But it doesn’t have to be. One way to take the fear out of budgeting is understanding some of the costs you might encounter. And to do that, turn to trusted real estate professionals. They can help you plan your finances and prepare your budget. Here are just …

Four Things That Help Determine Your Mortgage Rate

October 12, 2022

Down Payments, First Time Home Buyers, For Buyers, Interest Rates, Move-Up Buyers

Posted by Robin Taylor Roth

If you’re looking to buy a home, you probably want to secure the lowest interest rate possible for your home loan. Over the last couple of years, that was easier to do as the housing market saw record-low mortgage rates, but this year rates have risen dramatically. If you’re looking for ways to combat today’s higher rates and lock in the lowest one you can, here are a few …

Saving for a Down Payment? Here’s What You Should Know.

October 10, 2022

Buying Myths, Down Payments, First Time Home Buyers, For Buyers, Move-Up Buyers

Posted by Robin Taylor Roth

As you set out to buy a home, saving for a down payment is likely top of mind. But you may still have questions about the process, including how much to save and where to start. If that sounds like you, your down payment could be more in reach than you originally thought. Here’s why. The 20% Down Payment Myth If you believe you have to put 20% down …

Homeownership Could Be in Reach with Down Payment Assistance Programs

June 29, 2022

Buying Myths, Down Payments, For Buyers

Posted by Robin Taylor Roth

A recent survey from Bankrate asks prospective buyers to identify the biggest obstacles in their homebuying journey. It found that 36% of those polled said saving for a down payment is one of their primary hurdles to buying a home. If you feel the same way, the good news is there are many down payment assistance programs available that can help you achieve your homeownership goals. The key is …

Three Tips for First-Time Homebuyers

May 5, 2022

Buying Myths, Down Payments, First Time Home Buyers, For Buyers

Posted by Robin Taylor Roth

Buying your first home is a major decision and an exciting milestone. Even though it can feel daunting at times, it has the power to change your life for the better. If you’re looking to purchase your first home, you may be wondering what’s happening in the housing market today, how much you need to save, and where to start. Here are three things that can help give you …

Things That Could Help You Win a Bidding War on a Home

May 3, 2022

Buying Myths, Down Payments, First Time Home Buyers, For Buyers, Move-Up Buyers, Pricing

Posted by Robin Taylor Roth

With a limited number of homes for sale today and so many buyers looking to make a purchase before mortgage rates rise further, bidding wars are common. According to the latest report from the National Association of Realtors (NAR), nationwide, homes are getting an average of 4.8 offers per sale. Here’s a look at how that breaks down state-by-state (see map below): The same report from NAR shows the …

What You Need To Budget for When Buying a Home

April 5, 2022

Buying Myths, Down Payments, First Time Home Buyers, For Buyers, Move-Up Buyers

Posted by Robin Taylor Roth

When it comes to buying a home, it can feel a bit intimidating to know how much you need to save and where to find that information. But you should know, you’re not expected to have all the answers yourself. There are many trusted professionals who can help you understand your finances and what you’ll need to budget for throughout the process. To get you started, here are a …

Key Terms for Homebuyers [INFOGRAPHIC]

March 11, 2022

Buying Myths, Down Payments, First Time Home Buyers, For Buyers, Infographics, Interest Rates, Move-Up Buyers

Posted by Robin Taylor Roth

Some Highlights Knowing key housing terms and how they relate to today’s market is important. For example, when mortgage rates and home prices rise, it impacts how much home you can afford. Terms like appraisal (what lenders rely on to validate a home’s value) and the inspection contingency (which gives buyers essential information on a home’s condition) directly impact the transaction. Buying a home can be intimidating if you’re …

Down Payment Assistance Programs Can Help You Achieve Homeownership

March 2, 2022

Buying Myths, Down Payments, First Time Home Buyers, For Buyers, Move-Up Buyers

Posted by Robin Taylor Roth

For many homebuyers, the thought of saving for a down payment can feel daunting, especially in today’s market. That’s why, when asked what they find most difficult in the homebuying process, some buyers say it’s one of the hardest steps on the path to homeownership. Data from the National Association of Realtors (NAR) shows: “For first-time home buyers, 29 percent said saving for a downpayment [sic] was the most …

Millennials: Do You Need a Home with More Space?

February 28, 2022

Demographics, Down Payments, For Buyers, For Sellers, Millennials, Move-Up Buyers

Posted by Robin Taylor Roth

If you’re a millennial, homebuying might be top of mind for you. Your generation is the largest group of homebuyers in the market today and has been since 2014, according to the National Association of Realtors (NAR). And while other millennials are looking to buy for the first time, you may be one of the many who are now discovering you’ve outgrown your home. If that’s the case, you’re …

How To Win as a Buyer in a Sellers’ Market [INFOGRAPHIC]

February 11, 2022

Down Payments, First Time Home Buyers, For Buyers, Infographics, Move-Up Buyers

Posted by Robin Taylor Roth

Some Highlights Even in today’s sellers’ market, there are still ways for buyers to win big. Build a team of trusted professionals and make strategic plays as you budget and pick your desired neighborhoods. Then, be ready for the competition by getting a pre-approval letter and leaning on your expert advisors to draft a winning offer. In a sellers’ market, you can still be the champion if you have …

Don’t Let Student Loans Delay Your Homeownership Dreams

February 8, 2022

Buying Myths, Down Payments, First Time Home Buyers, For Buyers

Posted by Robin Taylor Roth

If you’re looking to buy a home, you may be wondering how your student loan debt could impact those plans. Do you have to wait until you’ve paid off your student loans before you can buy your first home? Or could you qualify for a home loan with that debt? To give you the answers you’re searching for, let’s take a look at what recent data shows. That way, …

How To Hit Your Homebuying Goals This Year [INFOGRAPHIC]

January 7, 2022

Down Payments, First Time Home Buyers, For Buyers, Infographics, Move-Up Buyers

Posted by Robin Taylor Roth

Some Highlights If you’re looking to buy a home, you may want to put these items on your to-do list to ensure you hit your goals. It’s important to start working on your credit and saving for a down payment early. When you’re ready to begin your search, work with a real estate professional and get pre-approved so you know how much you can borrow. Connect with a real …

How Much Do You Need for Your Down Payment?

January 3, 2022

Buying Myths, Down Payments, For Buyers

Posted by Robin Taylor Roth

As you set out on your homebuying journey, you likely have a plan in place, and you’re working on saving for your purchase. But do you know how much you actually need for your down payment? If you think you have to put 20% down, you may have set your goal based on a common misconception. Freddie Mac says: “The most damaging down payment myth—since it stops the homebuying …

The Perks of Putting 20% Down on a Home

December 22, 2021

Down Payments, First Time Home Buyers, For Buyers, Move-Up Buyers

Posted by Robin Taylor Roth

If you’re thinking of buying a home, you’re probably wondering what you need to save for your down payment. Is it 20% of the loan, or could you put down less? While there are lower down payment programs available that allow qualified buyers to put down as little as 3.5%, it’s important to understand the many perks that come with a 20% down payment. Here are four reasons why …

Why It Just Became Much Easier To Buy a Home

December 7, 2021

Buying Myths, Down Payments, First Time Home Buyers, For Buyers, Housing Market Updates, Interest Rates, Move-Up Buyers

Posted by Robin Taylor Roth

Since the pandemic began, Americans have reevaluated the meaning of the word home. That’s led some renters to realize the many benefits of homeownership, including the feelings of security and stability and the financial benefits that come with rising home equity. At the same time, many current homeowners have decided their house no longer meets their needs, so they moved into homes with more space inside and out, including …

Tips for Single Homebuyers: How To Make Your Dream a Reality

December 2, 2021

Buying Myths, Down Payments, First Time Home Buyers, For Buyers

Posted by Robin Taylor Roth

If you’re living on your own and looking to buy a home, know that you can make your dream a reality with thoughtful planning and the right team of experts. Research from Freddie Mac shows 28% of all households (36.1 million) are sole-person, and that number is growing. Over the past 40 years, the number of sole-person households has nearly doubled, and that’s a trend that’s expected to continue. …

VA Loans: Helping Veterans Achieve Their Homeownership Dreams

November 11, 2021

Buying Myths, Down Payments, For Buyers, Time-sensitive

Posted by Robin Taylor Roth

The purpose of Veterans Affairs (VA) home loans is to provide a pathway to homeownership for those who have sacrificed so much by serving our nation. As the Veterans Administration says of the program: “The objective of the VA Home Loan Guaranty program is to help eligible Veterans, active-duty personnel, surviving spouses, and members of the Reserves and National Guard purchase, retain, and adapt homes in recognition of their …

Is a 20% Down Payment Really Necessary To Purchase a Home?

September 22, 2021

Buying Myths, Demographics, Down Payments, First Time Home Buyers, For Buyers, Gen Z, Millennials

Posted by Robin Taylor Roth

There’s a common misconception that, as a homebuyer, you need to come up with 20% of the total sale price for your down payment. In fact, a recent survey by Lending Tree asks what is keeping consumers from purchasing a home. For over half of those surveyed, the ability to afford a down payment is the biggest hurdle. That may be because those individuals assume a 20% down payment …

The Truths Young Homebuyers Need To Hear

July 7, 2021

Buying Myths, Demographics, Down Payments, First Time Home Buyers, For Buyers, Gen Z, Interest Rates, Millennials, Pricing, Rent vs. Buy

Posted by Robin Taylor Roth

For many young or first-time homebuyers, purchasing a home can feel intimidating. A recent survey shows some homebuyers ages 25 to 40 may be unsure about the homebuying process and what they can afford. It found: “1 in 4 underestimated their buying potential by $150k or more” “1 in 4 underestimated the increase in value by $100k or more” “47% don’t know what a good interest rate is” Because …

What To Expect as Appraisal Gaps Grow

June 29, 2021

Buying Myths, Down Payments, For Buyers, For Sellers, Move-Up Buyers, Pricing, Selling Myths

Posted by Robin Taylor Roth

In today’s real estate market, low inventory and high demand are driving up home prices. As many as 54% of homes are getting offers over the listing price, based on the latest Realtors Confidence Index from the National Association of Realtors (NAR). Shawn Telford, Chief Appraiser at CoreLogic, elaborates: “The frequency of buyers being willing to pay more than the market data supports is increasing.” While this is great …

Don’t Forget to Budget for Closing Costs

May 17, 2021

Buying Myths, Down Payments, First Time Home Buyers, For Buyers, Move-Up Buyers, Pricing

Posted by Robin Taylor Roth

When buying a home, it’s important to have a budget and make sure you plan ahead for certain homebuying expenses. Saving for a down payment is the main cost that comes to mind for many, but budgeting for the closing costs required to get a mortgage is just as important. What Are Closing Costs? According to Trulia: “When you close on a home, a number of fees are due. They …

Why Waiting to Buy a Home Could Cost You a Small Fortune

May 6, 2021

Down Payments, First Time Home Buyers, For Buyers, Interest Rates, Move-Up Buyers, Pricing

Posted by Robin Taylor Roth

Many people are sitting on the fence trying to decide if now’s the time to buy a home. Some are renters who have a strong desire to become homeowners but are unsure if buying right now makes sense. Others may be homeowners who are realizing that their current home no longer fits their changing needs. To determine if they should buy now or wait another year, they both need …

How Much Time Do You Need To Save for a Down Payment?

April 19, 2021

Buying Myths, Down Payments, First Time Home Buyers, For Buyers

Posted by Robin Taylor Roth

One of the biggest hurdles homebuyers face is saving for a down payment. As you’re budgeting and planning for your home purchase, you’ll want to understand how much you’ll need to put down and how long it will take you to get there. The process may actually move faster than you think. Using data from the U.S. Department of Housing and Urban Development (HUD) and Apartment List, we can estimate …

Your Tax Refund and Stimulus Savings May Help You Achieve Homeownership This Year

April 5, 2021

Down Payments, First Time Home Buyers, For Buyers, Move-Up Buyers

Posted by Robin Taylor Roth

If you’re planning to buy a home this year, saving for a down payment is one of the most important steps in the process. One of the best ways to jumpstart your savings is by starting with the help of your tax refund. Using data from the Internal Revenue Service (IRS), it’s estimated that Americans can expect an average refund of $2,925 when filing their taxes this year. The map below shows the average …

How Smart Is It to Buy a Home Today?

March 3, 2021

Buying Myths, Down Payments, First Time Home Buyers, For Buyers, Interest Rates, Move-Up Buyers, Pricing

Posted by Robin Taylor Roth

Whether you’re buying your first home or selling your current house, if your needs are changing and you think you need to move, the decision can be complicated. You may have to take personal or professional considerations into account, and only you can judge what impact those factors should have on your desire to move. However, there’s one category that provides a simple answer. When deciding to buy now …

What Are the Benefits of a 20% Down Payment?

March 1, 2021

Buying Myths, Down Payments, First Time Home Buyers, For Buyers, Move-Up Buyers

Posted by Robin Taylor Roth

If you’re thinking of buying a home this year, you may be wondering how much money you need to come up with for your down payment. Many people may think it’s 20% of the loan to secure a mortgage. While there are plenty of lower down payment options available for qualified buyers who don’t want to put 20% down, it’s important to understand how a larger down payment can …

Do I Really Need a 20% Down Payment to Buy a Home?

February 3, 2021

Buying Myths, Down Payments, First Time Home Buyers, For Buyers, Move-Up Buyers

Posted by Robin Taylor Roth

Is the idea of saving for a down payment holding you back from buying a home right now? You may be eager to take advantage of today’s low mortgage rates, but the thought of needing a large down payment might make you want to pump the brakes. Today, there’s still a common myth that you have to come up with 20% of the total sale price for your down …

Financial Fundamentals for Homebuyers [INFOGRAPHIC]

January 22, 2021

Buying Myths, Down Payments, First Time Home Buyers, For Buyers, Infographics

Posted by Robin Taylor Roth

Some Highlights When you’re thinking about buying a home, there are a few key steps to take before you even start to look at houses. From saving for your down payment to getting pre-approved for a mortgage, you’ll want to make sure you keep your financial plan on track from the beginning. Let’s connect today to make sure you have an introduction to a trusted lender and the best …

How to Make the Dream of Homeownership a Reality This Year

January 18, 2021

Down Payments, First Time Home Buyers, For Buyers, Move-Up Buyers, Rent vs. Buy

Posted by Robin Taylor Roth

In 1963, Martin Luther King, Jr. inspired a powerful movement with his famous “I Have a Dream” speech. Through his passion and determination, he sparked interest, ambition, and courage in his audience. Today, reflecting on his message encourages many of us to think about our own dreams, goals, beliefs, and aspirations. For many Americans, one of those common goals is owning a home: a piece of land, a roof …

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Down Payments | Central New Jersey Real Estate