The majority of potential buyers are actually overwhelmed with the plethora of information available about the home financing process. Here are some interesting highlights from the report:
- Nearly 66% feel overwhelmed with the amount of information available
- 76% of those under the age of 30 feel overwhelmed
- 76% of first time buyers feel the same way
- 54% of those buyers who have previously owned also were overwhelmed
- 59% of buyers turn to mortgage bankers to help evaluate mortgage terms and comparing offers
- 49% of buyers turn to real estate agents to help evaluate mortgage terms and comparing offers
- There is help available…use it!
Cameron Findlay, chief economist at Discover Home Loans, gives great advice:
“The industry is becoming more transparent in an effort to help home buyers become informed about changes that may affect their process. The sheer amount of information can lead to confusion and stress. Those looking to purchase should work closely with their lender and Realtor to make sure they are comfortable with mortgage terms and understand the impact a loan will have on their finances.”
Bottom Line
The purchasing of a home can put great pressure on a family. Reach out to the best mortgage and real estate professionals in your market for assistance throughout the process.
Gail Sutton, Broker/Agent/Owner of Gail Sutton Properties, specializes in helping Home Buyers
Find Their Perfect Home. Gail will guide you every step of the way and has a team standing by to assist all aspects of your new home purchase. Let Gail Sutton's 25+ years experience and handling over 268 Million dollars of property transactions serve you!
House Shopping? Let's Find Your Perfect Home and then see what you can afford in just 15 minutes. Go To http://buyyourcoloradospringshome.specialfinancing.org/
Call Gail at 719-362-9702 or visit www.GailSuttonProperties.com today
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