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The biggest misconception among renters is that a large down payment is necessary to buy a home.  Then many will rent for an extended period thinking that a home purchase is unreachable.  A recent article by Citylab, “ The down payment is too ‘daggum’ high”  explained it well.  It explains how many renters cite lack of funds to cover the down payment as the top reason not to buy.  But actually there are some great no down payment mortgage options available to many.  Even other programs with small down payment requirements allow gifts from family and other sources.  On top of that, lending agencies have relaxed guidelines for how student loan payments are treated.  Often student loan debts have caused issues for younger buyers.  Therefore restrictions born from the economic downturn are loosening.  So why are you still renting or living with family? “Restrictions born from the economic downturn are loosen...

A recent USA Today  article  stated “Americans now have more than $1.4 trillion in unpaid education debt, according to the Federal Reserve”.  Average  student loan debt  for 2015 graduates in North Carolina is $25,645.  Plus many graduates have so much more.  It is not uncommon for a buyer to owe $50,000 – $100,000 or more.  This is a serious hindrance when it comes to buying a home.  But lately lending agencies have started loosening guidelines to help homebuyers.  Fannie Mae student loans are the latest to treat student loan payments differently.  Therefore, Fannie Mae released very flexible and lenient ways to help homebuyers with  student loan debt . Fannie Mae Student Loans Simplified to Help Buyers It is better late than never that  Fannie Mae  allowed for easier mortgage qualification with existing student loan debt.   VA loans  and  Freddie Mac conventional  loans alre...