Are You A First-Time Homebuyer?

First-Time Homebuyer Video Resources

First-Time Home Buyer Advice
You can’t know everything there is to know about buying a home, especially when you’re a first-time homebuyer.
How much down payment do I need for a house?
Many first-time homebuyers believe they have to put 20 percent down on a home. But that’s far from true.
Why do people say you need 20% down?
Average down payments are well under 20 percent. So why do so many people say 20 percent down is the minimum.
How to choose a mortgage lender as a first time home buyer
One of the biggest mistakes first-time homebuyers make is not shopping around for a mortgage.
What credit score do you need to buy a house for the first time?
Most loan programs require a credit score of 620 or higher to buy a house for the first time. That includes conventional loans, most VA loans, and USDA loans (which require 640+).
What qualifies you as a first-time buyer?
If you’re buying your first-ever home, you’re a “first-time homebuyer” by default.
Do I need a home inspection?
Some loan types, like the FHA and VA mortgage programs, require a home inspection to make sure the home meets requirements for safety and affordability.
What are points? How do I know if I should buy them or not?
A point is simply 1 percent of the loan amount. If you choose to “buy your rate down,” or pay “discount points,” you will get a lower interest rate.
What is Private Mortgage Insurance (PMI)?
Private Mortgage Insurance (PMI) is an insurance policy that makes homeownership possible for homebuyers who don’t want to make a 20 percent down payment.
Demand & Sales Volume are Down in Portland Real Estate, but so are Mortgage Rates. What's that Mean?
The Average Sale Price is Up by 2% from the previous week, Compared to last year, the average sale price is down by a mere 0.3% That's coming off of 4 weeks of being in positive territory. Buyer demand is down vs the previous week. The number of New Purchase Agreements came in 15% Lower than the previous week. Lockbox Opens (our indicator of serious buyer activity - buyers out looking at homes with their agents) was only off last year's number by 1% - likely showing that buyers are interested i
The Average Sale Price Still Trending Higher in Portland, but There May Be Cracks in the Dam.
Values Hold on in Portland Metro Real Estate, but the BIG Story is in Mortgage Rates!
Portland Metro Real Estate - Are Sliding Mortgage Rates Kicking up Buyer Activity?
Interest Rates Drop Like a Stone. Enough to Kick us out of Holiday Doldrums?
Market Update! The Good & Bad of the Portland Real Estate Market Starting 2024
The Average Sale Price Falters a Bit, but Lower Mortgage Rates & Good Weather May Help Things Along
Sale Prices and Buyer Demand are on the Rise, but There's Still Some Cause for Concern. Update on the NAR Settlement
What's Going On with the Supply, Demand and Prices in Portland | Lauren Perreault, Realtor
Welcome to another insightful real estate market update with Lauren Perreault from RE/MAX! In this week's video, Lauren delves into the bustling Portland Metropolitan area, including Clark County, Washington, exploring the latest trends as of March 24th. As spring unfolds, the market is ablaze with activity—sales are soaring, and prices are on the rise. Join Lauren as she dissects the data, comparing current statistics to those of the previous year, providing valuable insights for both buyers and sellers
Mortgage Rates Fire Back Up. Is the Real Estate Market in Portland Going to Boom or Bust?
?? This week's real estate market update shows some intriguing shifts! Average sale prices have risen by 6%, significantly higher than last year. Meanwhile, new listings surged by 74% post-Easter, hinting at a busy market. Despite a dip in new purchase agreements, buyer demand remains strong with a notable increase in lockbox activity. ???? What's behind these fluctuations? I'll break down the factors driving these changes and discuss the impact of rising mortgage rates, now reaching up to 7%. Stay tuned as

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