Number of Ventura Buyers Putting Down Less Than 10% Hits 7-Year High

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Real Estate Agent with Allison James Elite CA. BRE 01501699
http://activerain.com/droplet/56PX
Number of Buyers Putting Down Less Than 10% Hits 7-Year High | MyKCM

According to Black Knight Financial Service’s Mortgage Monitor Report, 1.5 million Americans have purchased a home with down payments under than 10% over the last 12 months. This is great news for buyers as this marks a 7-year high.

Many mortgage programs offered by agencies like Freddie Mac and Fannie Mae allow buyers to put down as low as 3% to purchase their dream homes. The strength of the housing market has aided buyers who used low-down-payment programs to buy. As a recent CNBC article points out,

“Defaults on recent low down payment loans, so far, are slow, but that is as much a factor of the good credit quality as it is the strength of the housing market. Home prices are rising incredibly fast, meaning those borrowers are gaining equity in their homes quickly.”

Low down payments aren’t just great for first-time homebuyers. These programs have allowed homeowners who want to capitalize on the equity they have in their homes to use the profit from their sale to pay off high-interest credit cards, fund education or even start a business.

According to a new Census Report, the Annual Survey of Entrepreneurs, home equity was used to start 7.3% of all businesses in the United States, which equates to over 284,000! The industries that saw the most growth from home equity are accommodation & food services, manufacturing and, retail trade.

Bottom Line

Gone are the days of ‘20% down or no mortgage.’ What could you build with the equity in your house? Let’s get together today to evaluate your ability to achieve your dreams today!

#TimeToSell #ChrisBJohnsonRealtor 

Your home is probably the biggest asset you own. This is why you should hire a professional to guide you through all your real estate transactions. My goal is to help 24 to 28 families each year either buy or sell a home. I am NOT interested in Selling 100 or 200 homes a year because I would not be able to give each family the time, attention and energy they deserve. I would also lose touch with my past clients and would not be available to help where needed. I take pride in working personally and individually with each of my clients. Once you are my client, you will work me from the beginning to the end of the transaction. When you call, you will get me directly, not my assistant or secretary. I have been a financial and real estate consultant for the past 30 years and have specialized in loan loss mitigation, short sale negotiation and REO marketing since 2005. I know how to negotiate contracts and navigate through the most difficult transactions. I am a member of, and Certified by the National Association of Realtors as a Short Sale and Foreclosure Resource, and Broker Price Opinion Resource. I am a Member of, and Certified by the California Association of Realtors as a Certified Home Affordable Foreclosure Alternative Specialist. I am a Certified Distressed Property Expert, Certified Short Sale Negotiator, Certified Pre-Foreclosure Specialist and Certified Default Advocate. For more please go to my LinkedIn Profile. Thank You!! And I look forward to hearing from you!

 

 

 

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Chris B Johnson

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Is it Too Late to Short Sell My Home??
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