Can you afford to buy a today’s                market?Buying a House is a very important decision in aperson’s life and de...
Houses Price           $383,250           In 2013
Median house price over the years                 New record median house price $500,000.00 $400,000.00 $300,000.00 $200,0...
MortgageMortgage is a loan to finance the purchase of real Estate, withspecified payment periods and interest rates . The ...
Mortgage Rates are going downBest Mortgage Rates as of Jan, 2013*                                              An Increasi...
ForeclosureYou should be aware of the consequences Foreclosure is legal, and often lengthy , process with several possible...
Foreclosure causes• Unemployment rates• Economic hardship• Aggressive lending practices• House price charges• Low underwri...
Some Useful Tips  Before buying a house consider:                  Picking a house you can afford                  Consult...
The Current State Of Home Affordability
The Current State Of Home Affordability
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The Current State Of Home Affordability

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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.

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The Current State Of Home Affordability

  1. 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. 2. Houses Price $383,250 In 2013
  3. 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. 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. 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. 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. 7. Foreclosure causes• Unemployment rates• Economic hardship• Aggressive lending practices• House price charges• Low underwriting standards
  8. 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
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