Focus, Focus, Focus: Helping Buyers Find the Way

Posted To: MND NewsWire

Buying a home is a process with a lot of moving parts. Do buyers make it more complicated, or even drop out of the process because they tend, for many reasons, to focus on the wrong ones? A lot of research, especially post-crash, such as Fannie Mae's National Housing Survey indicates that saving for a down payment and insufficient credit history are the biggest barriers many homebuyers, especially first-timers, face in getting a mortgage. These buyers have told others, such as the Consumer Financial Protection Bureau, that they don't do a lot of shopping around; getting information from more than one lender, or multiple quotes. In both cases, the research has relied on surveys to gather snapshots of consumer attitudes and outcomes at a certain point, but these are less helpful for understanding...(read more)

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