April 23, 2024 1:18 am
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Survey: 45% of non-homeowners say finances keep them from buying

homeowners

homeownersNearly 30% say they can’t afford a down payment

By Ben Lane | HousingWire

Nearly half of all non-homeowners say that their financial situation is preventing them from buying a home, a new report from Bankrate.com showed.

According to Bankrate’s survey, nearly 30% of all non-homeowners say that they can’t afford a down payment, despite only needing to save 3% for a down payment.

Additionally, 16% of the survey respondents said they felt that their credit isn’t good enough to qualify for a mortgage.

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Rose Law Group Reporter, which provides Dealmaker’s content and service, is contracted by Rose Law Group. Rose Law Group is a full service real estate and business Law Firm practicing in the areas of land use/entitlements, real estate transactions, real estate due diligence/project management, special districts, tax law, water law, business litigation, corporate formation, intellectual property, asset protection, data breach/privacy law, ADA compliance, estate planning, family law, cyber-law, online reputation and defamation, lobbying, energy and renewable energy, tax credits/financing, employment law, Native American law, equine law, DUIs, and medical marijuana, among others. The views expressed above are not necessarily those of Rose Law Group pc or its associates and are in no way legal advice. This blog should be used for informational purposes only. It does not create an attorney-client relationship with any reader and should not be construed as legal advice. If you need legal advice, please contact an attorney in your community who can assess the specifics of your situation.