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House Numbers @HouseNumbersApp

The easiest way for homeowners to access their home equity. Follow for homeowner news and home equity strategies that impact your finances.

Joined November 2021
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Navigating home buying? Understanding pre-qualification versus pre-approval is crucial. Pre-qualification offers an initial loan estimate based on your info, while pre-approval involves a detailed financial review for a concrete loan offer, boosting your credibility as a buyer.
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Struggling with potential foreclosure? Here's what you can do: Explore government aid, reduce unnecessary spending, talk to your lender, and consult a free HUD counselor. Taking early action is key to maintaining your home and peace of mind. #ForeclosureHelp #Homeownership
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Planning to sell your home? Aim for at least 10% equity to cover selling costs. More equity means more cash post-sale for your next big move or debt payoff. Calculate by subtracting mortgage balance from home value. #HomeSelling #RealEstateTips
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Considering refinancing your second mortgage? It can offer lower rates, shorter terms, or cash-out options. Requirements: 640 credit score, no recent late payments, and a debt-to-income ratio at or below 40%. Refinancing could lower your payments and provide additional funds.
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At a 7.25% mortgage rate, only 27.5M U.S. households can afford a median-priced new home. A drop to 6.25% would allow 4.5M more households to afford one, totaling 32.0M. In Feb 2022, a 5.00% rate meant 37.7M could afford a home. #housingaffordability #realestate #mortgage eyeonhousing.org/2024/05/at-…
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In 4Q23, US home prices were overvalued by 11.1%, with 90% of metro areas affected (down from 91% in 3Q23). 56% were overvalued by more than 10%. Memphis was the most overvalued. #housingmarket #realestate #economy #housingbubble globest.com/2024/05/15/most-…

Most US Homes Are Overvalued

The most overvalued metro in the nation among the 50 with the highest populations was Memphis

globest.com
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Nearly 40% of renters believe they’ll never become homeowners, up from 27% last year. Rising home prices and mortgage rates are major obstacles. First-time buyers need to earn ~$76K, an 8% increase from last year. Gen Z is the most hopeful, while 81% of boomers doubt they'll own again. #homeownership #housingcrisis #realestate redfin.com/news/renters-beco…
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Millennials redefine homeownership: co-buying with non-romantic partners surges, now 18% of first-time buyers. Driven by rising rents, this trend signals a shift towards pragmatic housing solutions. Gen Z likely to follow. Women's financial independence reshapes dynamics. #homeowner #housingmarket archive.md/fXb9T
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2023: Vacation-home mortgage demand plummets 40%, while primary home mortgages drop 20%, amid soaring housing costs. High-income, primarily white, Gen Xers dominate. West Palm Beach thrives; Austin, Bay Area decline. #realestate #markettrends redfin.com/news/vacation-hom…

Demand For Vacation-Home Mortgages Fell 40% in 2023 As Housing Costs Rose to Record High

An early look at this year's data shows that demand for vacation homes hasn't picked up in 2024; interest in second-home mortgages has been sitting near an 8-year low all year.

redfin.com
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📈🏠Amidst a housing market slowdown, FHA loans shine! Q4 2023 saw a 9% YoY rise in FHA loans, contrasting an 11% drop in overall mortgage originations. With only 3.5% down required for credit scores of 580 , homeownership becomes more attainable. #FHAloans #housingmarket archive.md/v74OA
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📈🏠Amidst a housing market slowdown, FHA loans shine! Q4 2023 saw a 9% YoY rise in FHA loans, contrasting an 11% drop in overall mortgage originations. With only 3.5% down required for credit scores of 580 , homeownership becomes more attainable. #FHALoans #housingmarket archive.md/v74OA#selection-8…
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Deciding between a home equity loan and a personal loan? Home equity loans offer more funds at lower rates, secured by your home, ideal for big, long-term investments. Personal loans provide quick, smaller funds without collateral—great for urgent, short-term needs.
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Southern cities like San Antonio surged 10% , fueled by affordable housing options. Meanwhile, NYC's 2% decline is tied to soaring housing costs and limited availability. Northeast outliers like Amherst and Northampton counter the trend with housing initiatives, fostering rapid growth. 🏠💰📈 #housing #censusinsights home-economics.us/p/booming-…
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Mortgage payments now eat up 24.2% of income, up 9.3% in a year. In 68% of top metro areas, a household income over $100K is needed for the median-priced home. Prices up 5% nationally, supply shortage fuels surge.🏠 #housingcrisis #affordablehousing realtor.com/news/real-estate…

American Families Are Typically Spending 24.2% of Their Income on Mortgage Payments

Families typically spent 24.2% of their income on mortgage payments in the three months through March, a new report says.

realtor.com
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🏠💰📈Avg. 30-year fixed mortgage rate falls to 7.09%, marking 1st decrease in over a month. Fannie Mae raises year-end prediction to 6.4% citing strong economy. NAR revises to 6.5%. #mortgage #housingmarket finance.yahoo.com/news/mortg…
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🏡 Homeowners: Multifamily developer confidence fell in Q1 2024, MPI at 47 (-3), MOI rose to 83 ( 1). Tight lending & higher rates forecast a 28% drop in multifamily starts. #homeownership #realestate eyeonhousing.org/2024/05/mul…
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Renting: limited to someone else's rules. Owning: unlimited cozy vibes. 🌟🏠💡#homeownership #homeowner #renting
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Renters' homeownership hopes hit a record low of 40.1%, down from 44.4% last year. Mortgage rates soared from 6.78% to 7.22%, with 74.2% finding it difficult to obtain a mortgage. The Northeast faces the steepest decline, dropping from 51.4% to 25.8%. #renters #Housingmarket #mortgage #homeowner realtor.com/news/real-estate…
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Seriously underwater home mortgages in the US rose to 2.7% in early 2024. Kentucky jumped to 8.3%, West Virginia to 5.4%. Baton Rouge leads large metros at 13.4%, with New Orleans at 7.3%. Jackson is at 6.5% and Syracuse at 5.6%. #housingmarket #realestate #housingtrends #mortgages finance.yahoo.com/news/serio…
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