article thumbnail

First-Time Buyers Are Choosing Conventional Over FHA Financing

Pro Builder

First-Time Buyers Are Choosing Conventional Over FHA Financing. Just 24% of first-time buyers went with an FHA loan in January while 59% of first-time buyers obtained conventional financing, reports the National Association of Realtors. In 2020, 57% of first-time buyers chose conventional financing—a 5% jump from 2019.

Finance 100
article thumbnail

California Rep. Maxine Waters Proposes Billions to Help Low-Income Homebuyers

Pro Builder

Maxine Waters Proposes Billions to Help Low-Income Homebuyers ldeakins Thu, 06/22/2023 - 12:30 The new proposal aims to significantly expand funding for low-income housing California Representative Maxine Waters introduced three bills on Wednesday that would expand low-income housing and narrow the country’s racial wealth gap.

Income 52
professionals

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Biden Announces Funding for Energy Efficiency in Low-Income Homes

Pro Builder

Biden Announces Funding for Energy Efficiency in Low-Income Homes. President Biden recently outlined plans to improve infrastructure and energy efficiency for homes in low-income areas. billion in funding to retrofit hundreds of thousands of homes in low-income areas by making them more energy efficient. Thu, 03/31/2022 - 10:26.

Income 52
article thumbnail

DIY Construction Accounting Errors And Ways To Improve Your Practices

Contractor Bookkeeping

However, keeping track of the finance side of the business– everything from income to expenses to tax compliance– can be overwhelming. Many small construction business owners tend to handle their accounting and bookkeeping, especially when they've just started.

article thumbnail

Income Needed to Afford a Home in Every U.S. City

Pro Builder

Income Needed to Afford a Home in Every U.S. metros and the minimum income needed to afford a home. But some less dense cities, such as Toledo, Ohio, only require a minimum income of $17,700 to afford a home. Zippia also applied the standard rule that your monthly mortgage payments should be less than 30% of your monthly income.

Income 52
article thumbnail

Real Estate Investment Trusts (REITs): Understanding the Construction Connection

Construction Marketing

Real Estate Investment Trusts (REITs) are owners, operators, and financers of income-generating real estate properties. The primary purpose of a REIT is to generate income for its investors through rental income, capital gains, or both. As such, it may lead to higher rental income and property values.

Income 211
article thumbnail

Record Appreciation Is Sending Homeowner Wealth Soaring

Pro Builder

Middle-income homeowners have seen their properties appreciate by 68% since 2012, amounting to $122,100 in equity wealth, according to the National Association of Realtors. Similarly, low-income homeowners reported $98,900 in equity gains, and upper-income households accrued $150,800 in equity.