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Will 2015 be a Good Year to Buy a Home?

As the economy has gradually improved coming out of the Great Recession, home sales have picked up, too. In mid-2014, sales of existing homes were on pace to top 5 million for the year, and the figure should top 5.2 million in 2015, according to a forecast from the National Association of Realtors®.

 

Many young adults — some of whom have lived with their parents to save money — may be ready for a home of their own. However, many of them mistakenly believe that they don’t have enough saved for a down payment to buy a house. But in 2014, one in five homebuyers who took out a conforming, conventional mortgage put down less than 10 percent.* Some potential buyers are also unduly pessimistic about their chances of qualifying for a mortgage.

 

2015 could be a great time to buy a home. With a good supply of homes for sale, low mortgage rates and a variety of mortgage options, you can select one that fits your plans and budget for the new year.


We Can Help

Don’t assume you can’t buy a home! The home loan experts at Novation can help you find a mortgage that fits your budget, and they’ll explain how the process works so you’re comfortable with your decision. Novation has also partnered with a core team of Re/Max Results agents to assist our members with their realty needs. "NovationResults" provides an exclusive incentive available for home listings and other great benefits to 3Mers who get their next home mortgage through Novation. Let us help you cross the threshold to homeownership. Call (800) 369-6628 or go to www.novation.org to get started.


* Source: Freddie Mac.