Mortgage and Real Estate Blog

head_left_image

Misinformation stopping first time home buyers

Lack of knowledge and misinformation may be discouraging Americans from buying a home according to a recent survey sponsored by Wells Fargo &Company.  The survey, conducted in June by Ipsos Public Affairs, found that many prospective homebuyers do not take the plunge because of uncertainty about their ability to qualify for a mortgage or about navigating the homebuying process.

The survey, "How America Views Homeownership," found that many Americans say their financial houses are in order, but serious misconceptions keep them sitting on the side lines.

For example, 44 percent think that a minimum of 20 percent down is required. Yikes!  Clearly that isn't the case... but that is what they think! 

Read the full story here.

 

| Apply | Check Rates | Secure Document Upload | Get My App |

Licensed in MN, WI, and SD. Company NMLS #225504

Comment balloon 0 commentsJoseph Metzler • September 23 2014 12:34PM
Misinformation stopping first time home buyers
share
Lack of knowledge and misinformation may be discouraging Americans from buying a home according to a recent survey sponsored by Wells Fargo &Company. The survey, conducted in June by Ipsos Public Affairs, found that many prospective homebuyers… more
What are home mortgage loan closing costs?
share
All home mortgage loans have fees knows as closing costs, which are required to process and obtain your home loan. People involved include the lender, title companies, appraisers, credit bureau, county document recording fees, and even state… more