Qualifying for a home loan is more challenging in the current economy as lenders have implemented stricter guidelines. Lenders will most often require a higher down payment before issuing loans to home-buyers. Do you know what options are available to you and how to make the most of your financial situation? Barbara Mannino discusses current trends amongst home-buyers and how turning to mom and dad is more common than most people think:
Turning to Mom and Dad to Help Buy a House
Real estate website Zillow has a provocative data point for every renter thinking about buying these days: That move pays off after just three years on average nationwide.
The company, which lists for-sale and for-rent information on its site, has released a new analysis of what it calls the “break-even horizon,” comparing what it would cost to buy or rent the same home in a number of U.S. markets over time.
In the combined Los Angeles and Orange counties, the magic number is 4.3 years, assuming the buyer has made a 20% down payment. Buying wins out after only 1.6 year in the desert community of Banning. But Newport Beach residents must wait 14 years for buying to make more financial sense than renting.
Read here for more:
started out like so many other
companies in America
with an entrepreneur
and an idea.
Decades ago, Jim
Barisic noticed that cities in coastal
Southern California were getting older and more crowded.
People in search of
new homes were moving out.
Jim set out to change that.
In 1994 he founded Brandywine
to help revitalize established communities
and convert wasted space
into needed housing.
Pockets of opportunity existed
where modern homes could replace
outdated strip malls,
parking lots or empty warehouses.
So while most
homebuilders left the cities behind,
Jim set up shop
closer to jobs and extended families
on the Southern California coast.
Brandywine Homes has been
at it through good times and bad.
And we’re not slowing down.
We understand the
value of community, long-term partnerships
and people who deserve quality design,
craftsmanship and service
right in their own
Please check back for insightful posts and interesting articles.
Brandywine Homes | 16580 Aston | Irvine, CA 92606