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  • Most Americans rate homeownership as the best investment they can make – far ahead of the 401(k), retirement accounts and stocks.
  • Economists and demographers have said that baby boomers, minorities and immigrants will be important forces in the housing market.
  • 31% of baby boomers said they were very or fairly likely to buy a home in the next 3 years, as did 42% African Americans, 37% of Latinos and 34% of Latino immigrants.
  • Among the 2 in 5 respondents who said they follow the housing market 76% said that buying a home is a safe investment with a lot of potential.
  • 78% said that it is a somewhat or very good time to buy a home.
 

Costs to buy a home ...

Buying a home can be both exciting and scary at the same time. It is important that that anyone who is looking to buy a home is aware of the true costs involved in buying a home. The down payment, monthly payment, taxes and PMI are part of the investment, but there are other costs you need to be aware of as well. 

The Housing and Urban Development (HUD) Agency provides a guideline of appropriate types of settlement costs. 

Click here to see the information HUD provides.
A sample Settlement Statement
Calculating Settlement Costs
Adjustments to Costs Shared by Buyer and Seller

* Information provided by Fannie Mae Foundation

 
 
Other Links of Interest
12 Steps to Homeownership
Fannie Mae
Freddie Mac
Homeownership Alliance
Housing and Urban Development
Richmond Development and Housing Authority
Mortgage Calculator