Top things Americans think you need before you can buy a home
This story version has been formatted as an on-air script for broadcast outlets. See the original research story here.
ONE IN THREE (35%) AMERICANS WON’T EVEN THINK ABOUT PURCHASING A HOUSE UNTIL THEY HAVE AT LEAST $200,000 SAVED UP, ACCORDING TO NEW RESEARCH.
A SURVEY OF 1,000 HOMEOWNERS AND 1,000 GENERAL POPULATION AMERICANS LOOKED AT SOME OF THE MOST COMMON MISCONCEPTIONS AND EXPERIENCES OF FIRST TIME HOMEBUYERS.
RESPONDENTS BELIEVE THE TOP ITEMS NEEDED TO SECURE A HOME LOAN ARE MONEY (52%), A STEADY JOB (49%) AND GOOD CREDIT (48%).
CONDUCTED BY ONEPOLL AND LOANDEPOT, THE SURVEY ALSO UNCOVERED THE AVERAGE RESPONDENT BELIEVES THEY HAVE TO MAKE A DOWN PAYMENT OF AT LEAST 25 PERCENT TO PURCHASE A HOME, WHICH IS NOT THE CASE.
SOARING INTEREST RATES AND RISING HOME PRICES WERE LISTED AS TOP REASONS PEOPLE MIGHT WANT TO AVOID BUYING IN THE CURRENT MARKET.
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