Two myths holding back Boston condo for sale buyers
Two myths holding back Boston condo for sale buyers, Surging mortgage rates and record-high home prices are no longer sidelining potential buyers.
Instead, house hunters are “losing patience” and moving forward with their goal of owning a home, Bank of America’s Matt Vernon told Yahoo Finance Live.
“The dream of homeownership is alive and well,” said Vernon, head of consumer lending at Bank of America.
As of October, more than a third of prospective homebuyers are no longer willing to wait for home prices and interest rates to fall to buy a home, up from 15% in April, according to Bank of America’s Homebuyers Insight Report.
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To debunk this myth, let’s take a look at Ellie Mae’s latest Origination Insight Report, which focuses on recently closed (approved) loans.As indicated in the chart above, 52.4% of approved mortgages had a credit score of 600-749.
Bottom Line
Whether buying your first Beacon Hill condo buyer or moving up to your Boston Seaport District luxury condo dream home, knowing your options will make the mortgage process easier. Your dream home may already be within your reach.
Boston Condos for Sale
Get new listing alerts delivered to your inbox. 260 Results Open House: Mar 30, 2024 11:00 AM - 1:00 PM #73205411 | Condo Open House: Mar 30, 2024 1:00 PM - 2:30 PM #73217275 | Condo Open House: Mar 30, 2024 1:30 PM - 2:30 PM #73214175 | Condo 1
Beds 1
Baths 616
SqFt Open House: Mar 30, 2024 12:30 PM - 2:00 PM #73213732 | Condo 4
Beds 2 | 2
Baths 2,315
SqFt #73213372 | Condo Open House: Mar 30, 2024 12:00 PM - 1:00 PM #73211857 | Condo Open House: Mar 30, 2024 10:00 AM - 11:00 AM #73211226 | Condo 1
Beds 1
Baths 578
SqFt #73208169 | Condo 2
Beds 1 | 1
Baths 1,050
SqFt Open House: Mar 30, 2024 11:00 AM - 12:00 PM #73205685 | Condo Open House: Mar 30, 2024 3:00 PM - 4:00 PM #73185513 | Condo © 2024 MLS Property Information Network, Inc. (MLSPIN). All rights reserved.
The property listing data and information, or the Images, set forth herein were provided to MLS Property Information Network, Inc. from third-party sources, including sellers, lessors, landlords, and public records, and were compiled by MLS Property Information Network, Inc. The property listing data and information, and the Images, are for the personal, noncommercial use of consumers having a good faith interest in purchasing, leasing, or renting listed properties of the type displayed to them and may not be used for any purpose other than to identify prospective properties which such consumers may have a good faith interest in purchasing, leasing or renting. MLS Property Information Network, Inc. and its subscribers disclaim any and all representations and warranties as to the accuracy of the property listing data and information, or as to the accuracy of any of the Images, set forth herein. MLS PIN data last updated at March 28, 2024 1:05 PM ET
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The property listing data and information, or the Images, set forth herein were provided to MLS Property Information Network, Inc. from third-party sources, including sellers, lessors, landlords, and public records, and were compiled by MLS Property Information Network, Inc. The property listing data and information, and the Images, are for the personal, noncommercial use of consumers having a good faith interest in purchasing, leasing, or renting listed properties of the type displayed to them and may not be used for any purpose other than to identify prospective properties which such consumers may have a good faith interest in purchasing, leasing or renting. MLS Property Information Network, Inc. and its subscribers disclaim any and all representations and warranties as to the accuracy of the property listing data and information, or as to the accuracy of any of the Images, set forth herein.