• Like
The Current State Of Home Affordability
Upcoming SlideShare
Loading in...5
×

Thanks for flagging this SlideShare!

Oops! An error has occurred.

The Current State Of Home Affordability

  • 180 views
Published

Buying a House is a very important decision in a person’s life and depends on many Factors.Knowing something about mortgage interest rates, average home prices and other home affordability data can …

Buying a House is a very important decision in a person’s life and depends on many Factors.Knowing something about mortgage interest rates, average home prices and other home affordability data can help a lot.

Published in Real Estate
  • Full Name Full Name Comment goes here.
    Are you sure you want to
    Your message goes here
    Be the first to comment
    Be the first to like this
No Downloads

Views

Total Views
180
On SlideShare
0
From Embeds
0
Number of Embeds
0

Actions

Shares
Downloads
0
Comments
0
Likes
0

Embeds 0

No embeds

Report content

Flagged as inappropriate Flag as inappropriate
Flag as inappropriate

Select your reason for flagging this presentation as inappropriate.

Cancel
    No notes for slide

Transcript

  • 1. Can you afford to buy a today’s market?Buying a House is a very important decision in aperson’s life and depends on many Factors.Knowing something about mortgage interestrates, average home prices and other homeaffordability data can help a lot.
  • 2. Houses Price $383,250 In 2013
  • 3. Median house price over the years New record median house price $500,000.00 $400,000.00 $300,000.00 $200,000.00 $100,000.00 $0.00 1940 1950 1960 1970 1980 1990 2000 2010 2011 2012
  • 4. MortgageMortgage is a loan to finance the purchase of real Estate, withspecified payment periods and interest rates . The borrower givesthe lender a lien on the property as collateral for the loan.At the conclusion of the home loan process , you shouldcarefully read all documents and get answers to all yourquestion if you have any questions.
  • 5. Mortgage Rates are going downBest Mortgage Rates as of Jan, 2013* An Increasingly competitive environment led lenders to lower mortgage rates. Source By: http://www.totalmortgage.com/mortgage-rates.asp
  • 6. ForeclosureYou should be aware of the consequences Foreclosure is legal, and often lengthy , process with several possible outcomes , including that Borrower sells the property or the lender repossesses the home.Delinquency Delinquency is the failure of a borrower to meet one or more scheduled monthly payments. Default Default occurs when a borrower is 90 or more days delinquent. Foreclosure become a possibility.
  • 7. Foreclosure causes• Unemployment rates• Economic hardship• Aggressive lending practices• House price charges• Low underwriting standards
  • 8. Some Useful Tips Before buying a house consider: Picking a house you can afford Consulting an experienced house inspector Choosing the right mortgage Getting professional adviceSource By: http://www.smartonmoney.com/wp-content/uploads/2010/11/homeaffordability.jpg