Financing a Home in 2011
The home financing market in 2011 was full of many twists and turns. New regulations continued to put up road blocks, some of which there was no way to pass. There were also many homes purchased with cash due to low purchase prices (in some areas homes were cheaper than cars).
Some statistical highlights include:
- 87% of home buyers financed their home (most at a 89% Loan to Value)
- 95% of first time of buyers financed their home
- 82% of repeat buyers bought with financing
- 46% admitted they made some financial sacrifices in order to afford the home
- 23% reported that the mortgage application and approval process was somewhat more difficult than expected
Previous Posts on the 2011 Profile of Home Buyers and Sellers
2011 Profile of Home Buyers and Sellers Introduction
2011 Profile of Home Buyers and Sellers Environment & Characteristics of Home Buyers
Characteristics of Homes Purchased in 2011 Profile of Home Buyers and Sellers
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