How Does Affordability Affect Your Ability to Prospect?

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Hello, and welcome back to our blog! Today, we continue our discussion on the many positive trends we've seen in real estate lately. 

Recently, Fannie Mae and Freddie Mac cut their minimum down payment to 3%! That's in line with what FHA has been charging, which goes to show how much easier it is for homeowners to obtain financing today. If you're thinking about getting into real estate, this means there are more qualified prospects than ever! 

According to MSNBC, around 30% of housing units are rented. That's approximately 41 million people who are currently renting, which is a massive pool of prospects if you're an agent. For instance, around 18 million of those renters want to buy a home, but don't realize this lower down payment will help them afford one. 

The time has never been better to get into the real estate business. 

Recently, 30-year fixed rate mortgages dropped from 3.77% to 3.6%. Additionally, rates for adjusted mortgages have dropped to 3.04%! Conditions for affordable financing simply can't get much better! It's time to get off the fence if you've been considering a career in real estate - there are a whole lot of prospects out there who need your help! 

If you have any questions about these fantastic conditions, or would like help getting into the industry, give us a call or shoot us an email! We would love to hear from you!