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Category: Affordability

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Sellers Are Cutting Prices To Meet Buyers Where They’re At

Written by Key Largo Mortgage Syndicated User on . Posted in Affordability, Buying Tips, For Buyers, Home Prices, Key Largo Mortgage, Key Largo Mortgage Rates.

You’re scrolling through listings on your phone and everything looks good until you see the price (or the estimated monthly payment). Then you close the app.  Because even if you love the house, the numbers feel impossible. But here’s the thing. Nationally, there are more homes sitting on the market than there are people out there looking. And when sellers need buyers more than buyers need sellers, that shows up in the price. Lower asking prices. More price cuts. And homes priced for what buyers can actually afford – not what sellers hope someone might pay. And it may be enough...

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Here’s Why Mortgage Rates Are What They Are Right Now

Written by Key Largo Mortgage Syndicated User on . Posted in Affordability, Economy, For Buyers, For Sellers, Key Largo Mortgage, Key Largo Mortgage Rates, Mortgage Rates.

If you’re waiting for mortgage rates to fall a lot before you buy, you may be waiting a while. But before you get discouraged, there’s a number working behind the scenes that’s actually good for you right now. It’s called the spread, and once you understand it, you may see today’s rates in a whole new light. The Pattern That’s Held for 50+ Years For starters, mortgage rates don’t move on their own. They tend to follow the 10-year treasury yield, a number tied to how investors feel about the economy. It’s not an exact science, since plenty of other factors can...

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The Case for Putting 20% Down on Your Next Home

Written by Key Largo Mortgage Syndicated User on . Posted in Affordability, Buying Tips, Downsize, For Buyers, Key Largo Mortgage, Key Largo Mortgage Rates, Move-Up.

If you’re planning to buy your next home soon, you’ve probably heard the old rule about saving 20% for your down payment. The truth is, you usually don’t have to. Plenty of loan options let qualified buyers put down much less. But a lot of repeat buyers are choosing to put down 20% anyway. So, why are they if they don’t have to? Two reasons. They know a bigger down payment pays off, and after years in their current house, they’ve built up enough equity that it’s finally possible. Repeat Buyers Put More Money Down According to the National Association of Realtors (NAR), the typical repeat...

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Buying a Home? Here’s What You Should Know About Home Insurance Costs.

Written by Key Largo Mortgage Syndicated User on . Posted in Affordability, Buying Tips, For Buyers, Key Largo Mortgage, Key Largo Mortgage Rates.

If buying a home is on your radar, you’ve probably been keeping an eye on mortgage rates and home prices. But don’t forget about homeowners insurance.  Homeowners insurance has always been part of owning a home. But over the past few years, it’s become a larger expense for many homeowners – something that’s especially frustrating when affordability already feels tight. The good news? While premiums are still rising, the latest data shows those increases are beginning to slow. Here’s what buyers should know. Home Insurance Costs Have Gone Up You’ve probably...

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Think You Have To Put 20% Down? Most First-Time Homebuyers Don’t.

Written by Key Largo Mortgage Syndicated User on . Posted in Affordability, Buying Tips, First-Time Buyers, For Buyers, Key Largo Mortgage, Key Largo Mortgage Rates.

According to Google Trends, online searches for down payment information recently hit an all-time high. And that’s a clear sign more buyers are trying to figure out what they really need to save before making a move (see graph below): If you’re wondering the same thing, you can always turn to the internet for answers. But a lot of the time, it’s better to ask a local expert. Because here’s what a pro would tell you. The 20% Down Payment Myth The idea that you need 20% down to buy a home is one of the biggest misconceptions around the homebuying process. And the data debunks the myth. While...

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The 10 Best Markets for First-Time Buyers This Spring

Written by Key Largo Mortgage Syndicated User on . Posted in Affordability, First-Time Buyers, Inventory, Key Largo Mortgage, Key Largo Mortgage Rates.

For a while, buying your first home hasn’t just felt hard. It may have felt out of reach. Not because you weren’t ready. Not because you weren’t trying. But because every time you ran the numbers, they didn’t work. That’s why so many first-time buyers stepped back. But after years of sitting on the outside looking in, this Spring could give buyers like you an opening again – especially in some markets. Metros Where Buyers May Have an Easier Time Breaking into the Market  Zillow just released a list of the top 50 metros for first-time buyers this Spring. And here’s a quick snapshot of the...

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Wondering If You Should Still Buy a Home Right Now? Here’s What To Keep in Mind.

Written by Key Largo Mortgage Syndicated User on . Posted in Affordability, First-Time Buyers, For Buyers, Key Largo Mortgage, Key Largo Mortgage Rates, Mortgage Rates.

With economic headlines, global events, and near constant talk about affordability, you may be wondering if this is the right time to move. But here’s what you need to remember. While recent events do have some impact on the housing market, they don’t take buying off the table. You just have to use a different strategy. Mortgage Rates Have Been Up Slightly – Here’s Why After trending down for most of 2025, mortgage rates have been higher again for over roughly a month now. And experts say it’s a result of what’s happening overseas and in the broader economy. As Mark Fleming,...

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When Buying a Home Feels Out of Reach, Some Families Do This Instead

Written by Key Largo Mortgage Syndicated User on . Posted in Affordability, Buying Tips, For Buyers, Key Largo Mortgage, Key Largo Mortgage Rates, Senior Market.

For a lot of people, the math on buying a home just doesn’t really work right now. Maybe that’s how it feels for you too. You look at the cost of buying. Then you look at the cost of childcare. And it starts to feel like you have to choose one or the other. But some families are finding a way to make both work by doing something a little different: teaming up to purchase a multi-generational home. One Reason This Is Becoming More Common It’s no secret that affordability has been a challenge in recent years. But for families with young kids, there’s an added layer that can make it feel even...

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Affordability Has Improved in All 50 States

Written by Key Largo Mortgage Syndicated User on . Posted in Affordability, First-Time Buyers, For Buyers, Key Largo Mortgage, Key Largo Mortgage Rates.

For the past few years, affordability has been what’s stopped a lot of buyers in their tracks. Maybe it stopped you, too. At some point you probably did the math, looked at the monthly payment, and decided to pause your search and wait for things to get better. But here’s something you may have missed while you’ve been sitting on the sidelines. Over the last year, housing affordability has improved in all 50 states. Yes, you read that right. It’s gotten better in every single state. That’s based on new research coming out of First American. And while housing is still fairly expensive...

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Should You Wait for Lower Rates?

Written by Key Largo Mortgage Syndicated User on . Posted in Affordability, First-Time Buyers, For Buyers, Key Largo Mortgage, Key Largo Mortgage Rates, Mortgage Rates.

Mortgage rates have already dropped into the upper 5s twice this year. But after just a few days, they ticked back up into the low 6% range. If you saw that and thought, “Great. I missed it,” you’re not the only one. A lot of buyers are treating the 5s like some kind of magic number. As if moving from 6.1% to 5.99% suddenly changes everything. And from a mindset perspective, it does feel different. But here’s the part most people don’t actually run the math on. The Payment Difference Isn’t What You Think Let’s say you’re looking at a $500,000 home loan. At 6.1%, generally speaking, your...

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