Tag: “home affordability”

Homebuying resources for veterans in California

Memorial Day may have come and gone, but at Open Listings, we are committed to helping veterans and their families year-round. Fortunately, California is also has the same mission at heart. Our home state is a cut above in the number of programs available to help returning and active-duty service members find stable housing and employment. As a thank you for your service, we’ve compiled a list of those resources below. Read them over to see which ones might

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The influx of homebuying tech workers from Silicon Valley to Austin won't be slowing down

In February, the Open Listings team did some research into how home affordability was even becoming a problem for six-figure salaried tech workers across Silicon Valley. We used the lending industry's standard "28% rule" as a barometer for evaluating if tech workers in Silicon Valley and Los Angeles would be approved for a mortgage -- let alone really be able to afford home ownership within a 20 minute commute from their offices on their salaries only. Our findings

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US "hispennials" bullish on homebuying despite reservations with Trump administration

In December of last year, the Open Listings team took a detailed look at where millennials in the United States currently stand with their homebuying plans. And, contrary to many headlines, we found that millennials are actually already buying homes. In fact, 44% of millennials -- largely based outside of major urban areas -- noted that they already own a home. Over the next couple of years, industry leaders expect one subset of millennials to drive the homeownership rate up

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Breaking it down: first time home buyer programs, loans & benefits

TL;DR The federal government and all 50 states offer first-time homebuyer loans with incentives from 0% interest to zero down payment amounts and reduced monthly costs. There's also plenty of programs to reduce your upfront and total home ownership costs. To complement, Open Listings offers a commission refund of up to 50% at purchase, which can cover up to 1/3 of your down payment or all of your closing costs. With Americans increasingly using loans to fulfill their

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How much house can I afford? Get your answer with these 11 key considerations.

What you pay in rent isn't necessarily how much house you can afford. There are many factors and a number of other considerations. TL;DR Figuring how much house you can afford boils down to your annual income, down payment, debt-to-income ratio, and your credit score. These all impact what your monthly payment will look like and what type of loan and interest rate you'll be able to get. On top of those factors, it's important to also consider any

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