Home Buyers Find Mortgage Process Confusing
✉️ Want to forward this article? Click here.
At some point this week, President Obama is expected to release a plan to revamp the country’s mortgage system, and based on the results of a recent survey, the administration’s timing couldn’t be better.
The Wall Street Journal reported this morning that a survey from MortgageMatch.com shows that one-third of respondents think that the mortgage process is the most confusing part of buying a home. Ever-changing documentation requirements and credit score issues were partly to blame.
The survey, which took data from 2,000 interviews conducted in January, also revealed frank statistics about buyers’ troubles finding the right home and coming up with down payment money. From the WSJ:
“The majority of buyers said that finding the right home (54%) was the hardest part of the buying process, while 37% of borrowers said saving for the down payment was the most difficult step…25% said negotiating the home purchase price was the most difficult step.”
Similar Posts:
See other articles related to: mortgage rates, mortgagematch.com, mortgages, obama, the wall street journal
This article originally published at http://dc.urbanturf.production.logicbrush.com/articles/blog/home_buyers_find_mortgage_process_confusing/2965.
Most Popular... This Week • Last 30 Days • Ever
A plan to add another new residential building to the Friendship Heights pipeline is ... read »
The eight-bedroom, 35,000 square-foot home in McLean known as The Cliffs went under c... read »
This week’s Best New Listings includes a bi-level condo north of Adams Morgan's mai... read »
On Monday, the listing price for the 30,000 square foot home that was originally buil... read »
DC's Historic Preservation Review Board looks poised to approve changes for one of th... read »
- Donohoe Files PUD For 127-Unit Development in Friendship Heights
- A $30 Million Sale? One Of The DC Area's Most Expensive Homes Finds A Buyer
- Best New Listings: Windows Galore on Biltmore; One Up, One Down on Swann
- The Price For Dan Snyder's Former Potomac Home Drops By $5 Million
- HPO Recommends Approval For Changes To 280-Unit Building At DC's Reservoir District
DC Real Estate Guides
Short guides to navigating the DC-area real estate market
We've collected all our helpful guides for buying, selling and renting in and around Washington, DC in one place. Start browsing below!
First-Timer Primers
Intro guides for first-time home buyers
Unique Spaces
Awesome and unusual real estate from across the DC Metro