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The Current State Of Home Affordability
Can you afford to buy a today’s
                market?

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.
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
 $200,000.00
 $100,000.00
       $0.00
               1940 1950 1960 1970 1980 1990 2000 2010 2011 2012
Mortgage


Mortgage is a loan to finance the purchase of real Estate, with
specified payment periods and interest rates . The borrower gives
the lender a lien on the property as collateral for the loan.

At the conclusion of the home loan process , you should
carefully read all documents and get answers to all your
question if you have any questions.
Mortgage Rates are going down

Best 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
Foreclosure
You 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.
Foreclosure causes

• Unemployment rates
• Economic hardship
• Aggressive lending practices
• House price charges
• Low underwriting standards
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 advice


Source By: http://www.smartonmoney.com/wp-content/uploads/2010/11/homeaffordability.jpg
The Current State Of Home Affordability

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The Current State Of Home Affordability

  • 2. Can you afford to buy a today’s market? 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.
  • 3. Houses Price $383,250 In 2013
  • 4. 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
  • 5. Mortgage Mortgage is a loan to finance the purchase of real Estate, with specified payment periods and interest rates . The borrower gives the lender a lien on the property as collateral for the loan. At the conclusion of the home loan process , you should carefully read all documents and get answers to all your question if you have any questions.
  • 6. Mortgage Rates are going down Best 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
  • 7. Foreclosure You 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.
  • 8. Foreclosure causes • Unemployment rates • Economic hardship • Aggressive lending practices • House price charges • Low underwriting standards
  • 9. 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 advice Source By: http://www.smartonmoney.com/wp-content/uploads/2010/11/homeaffordability.jpg