This Keeping Current Matters infographic is pretty much to the point.
[Potential] Home buyers aren't always completely informed as to minimum qualifications for buying a home. Now IS the time to honestly do the work and FIND OUT your home buying qualifications. There are conventional financing options, FHA, portfolio and hard money financing options. Don't regret not really finding out if you do in fact qualify now to buy a home.
Some of the highlights from this KCM blog to take away:
"Interest Rates are still below historic numbers.
"88% of property managers raised their rent in the last 12 months!
"Credit score requirements to be approved for a mortgage continue to fall. The 723 average score is the lowest since Ellie Mae began reporting on scores in August 2011.
"The average first-time home buyer down payment was 6% in 2015 according to NA"
Best, Forest - The Guy in the White Hat
Broker and Co-Owner of family owned and operated Hard Money company, Sun Pacific Mortgage & Real Estate, serving all of California since 1988!
Original link to KCM post: