When responsible first-time home buyers need help buying a home, the family bank can sometimes lend a hand. Younger home buyers face a mountain of obstacles, including rising home prices and interest rates, too few homes for sale and unpaid college debt. Student debt is a major source of trouble. When the National Association of
The Washington D.C. Metro June median sales price rose to an all-time, record-setting $471,000, up 3.5% or $16,000 compared to last year and up 1.3% or $6,000 compared to last month. Sales volume across the DC Metro area was more than $3.3 billion, down 2.8% from last year. There were 5,889 closed sales of 5,889
Don’t wait until you’re ready to move to start preparing financially to buy a home. If you’re like the vast majority of home buyers, you will choose to finance your purchase with a mortgage loan. By preparing in advance, you can avoid the common delays and roadblocks many buyers face when applying for a mortgage.
If you’re in the market for a new home or investment property, one of the first questions you’ll probably ask is, “What can we afford?” Many buyers become so caught up in how much they can afford that they don’t realize their total buying power—that is, the total amount of purchasing potential they actually have.