April 4, 2025

5 ROADBLOCKS TO AFFORDABLE HOMEOWNERSHIP (AND WAYS TO MOVE PAST THEM)

Dreaming of a new home but feeling priced out? You’re not alone! According to a recent survey by Bankrate, 78% of aspiring homebuyers cite affordability issues as their primary deterrent.1

 

According to data from the U.S. Census Bureau, home prices have risen around 32% since the pandemic, and elevated mortgage rates have caused monthly payments to balloon.2

Despite the challenges, homeownership remains a top goal for many Americans. Fortunately, there are ways to turn your dreams of homeownership into reality! In this guide, we’ll explore five common roadblocks to affordable homeownership and actionable solutions to help you overcome them. Let’s break down those barriers so you can finally get the home of your dreams!


ROADBLOCK #1: I Don't Have Enough Saved For A Down Payment


Many prospective buyers believe they need a 20% down payment to buy a home. But in reality, most conventional loans require just 3-5%. And, for buyers who qualify, there are a number of programs and mortgage options that can make a home purchase more accessible.

 

Down Payment Assistance Programs (DPAs)

DPAs offer grants, loans, and other financial assistance to help with your down payment and closing costs. Many programs are specifically designed for first-time buyers, but there are also options for repeat homebuyers.3,4 These programs can significantly reduce the upfront costs of buying a home. We can help you find down payment assistance programs. Contact us to find out if you may qualify!

 

0% Down Government-Backed Mortgages
If you qualify for certain government-backed mortgages, you may not need to come up with a down payment at all.5 While these loans, offered by the Department of Veterans Affairs (VA) and the United States Department of Agriculture (USDA), are not available to all buyers, they offer numerous benefits, including competitive rates and no down payment requirement. 


  • VA loans are available to U.S. military members, including veterans and surviving spouses.6 They do not require a down payment, though the buyer must pay a fee at closing.
  • USDA loans are available to moderate to low-income buyers in certain rural areas.7 They do not require a down payment. 


Family Gifts

Did you know that 25% of first-time buyers in 2024 reported receiving down payment gifts or loans from family members or friends?8 In fact, a growing number of Baby Boomers are choosing to gift all or a portion of their heirs’ inheritance before they pass away.9 Some financial advisors even recommend this as part of their client’s estate plan. Just be sure to follow the proper procedures to document these types of gifts, if you’re fortunate enough to receive them.10

 

Existing Home Equity

Due to record-high real estate gains over the past few years, if you already own a home, you may have more equity than you realize.11 This equity (or difference between your home’s current value and what you owe on your mortgage) could go toward a down payment on a new property. Wondering how much equity you have in your current home? Reach out for a free home value assessment.


ROADBLOCK #2: I Can't Afford the Monthly Payment


Worried about those monthly mortgage payments? High interest rates and rising costs can make mortgage payments feel daunting. But there are strategies to reduce your monthly burden.

                         

Explore Alternative Mortgage Terms

The traditional 30-year fixed-rate mortgage isn’t the only kind of loan out there. Options like adjustable-rate mortgages (ARMs) or hybrid mortgages can offer lower initial rates.12, 13 Some buyers opt for these if they plan to sell the home before the initial rate term ends or refinance down the road. A lower mortgage rate can significantly lower your monthly payment. However, it’s important to understand the risks involved so you can weigh the pros and cons before deciding.

 

Consider Discount Points

Buying discount points—a process also known as a permanent rate buy-down—is another great way to limit your monthly costs.14 Essentially, this strategy involves prepaying a fee to lower your interest rate across the life of your loan. If a seller is especially motivated, they may be willing to pay for discount points for the buyer to close the deal on a home. In some cases, we can help you negotiate these types of seller concessions.


Ask About Seller Financing or an Assumable Mortgage

Here are two less common options you might not have considered:15


  • Seller Financing – The seller acts as the bank, offering you potentially better terms than a traditional mortgage.
  • Assumable Mortgage – You take over the seller's existing mortgage with a lower interest rate than what's currently offered by lenders.


Note that these options may or may not be possible for you depending on the seller, the home, and the type of mortgage, but they are worth exploring—and we can help.

 

Co-Buy with Family or Friends

A growing number of homebuyers are returning to multigenerational living or are even buying a home with friends.16 This arrangement enables you to cut costs significantly while sharing both the time and financial responsibilities of homeownership. We can help you search for homes that are well suited for your group.

 

Purchase a Home with Income Potential

You can generate extra income to offset your mortgage payments by purchasing a duplex, renting out a room or an accessory dwelling unit (like a garage apartment), or even listing your property on Airbnb. We work with investors and can help you find a property to meet your goals.


ROADBLOCK #3: I Can't Qualify for a Mortgage


Qualifying for a mortgage can be a stressful process, especially if you have previously faced financial challenges. But you might be pleasantly surprised—there’s a lot you can do to improve your chances of success.

 

Boost Your Credit Score

Your credit score is foundational when it comes to getting a mortgage.17 A higher score typically means a lower interest rate and more options. Take steps to improve your credit by paying bills on time, reducing debt, and checking your credit report for errors. Even a small improvement in your score can make a big difference. Pro tip: Avoid opening or closing credit cards or taking out other loans (like car or personal loans) if you plan to start home shopping in the near future.


Lower Your Debt-to-Income Ratio

Lenders want to see that you can comfortably handle your debts. They assess this by calculating your debt-to-income ratio: your total monthly loan payments (including mortgage, car loans, student loans, and credit cards) divided by your gross monthly salary.18 Paying down other types of debt, like your car loan, will leave more space in your budget for a monthly mortgage payment.

 

Apply for an FHA Loan

FHA loans are designed for buyers with less access to savings, as well as those with lower credit scores.19 Down payments on FHA mortgages can be as low as 3.5% with a credit score of 580 or above, or 10% with a credit score of 500 or above. Generally, the buyer’s debt-to-income ratio must be below 43%, with no more than 31% of income going to mortgage payments. These loans do come with some additional requirements, such as mortgage insurance (including an upfront premium of 1.75% at closing), a pre-purchase inspection, and borrowing limits that vary based on geographic area.

 

Consider Getting a Co-Signer

Having a co-signer with a stronger credit history or more income can strengthen your application, but make sure you (and they) understand the risks and responsibilities involved.


ROADBLOCK #4: I Can't Find a Home in My Price Range


Feeling frustrated by the lack of affordable homes on the market? Unfortunately, this is a common problem.20 But with a little flexibility and guidance, it’s possible to find a great property to fit most budgets.

                               

Expand Your Home Search

You may need to search outside your target area. In many markets, home prices vary drastically within the span of miles.21 Being open to exploring alternative neighborhoods or those farther from town can open up surprising possibilities. As local market experts, we can help you discover hidden gems and up-and-coming neighborhoods. Reach out for a complimentary consultation.

 

Revisit Your Must-Haves

Take a close look at your "must-have" list. Are there any features you can compromise on to expand your options and find a more affordable property? For example, do you really need two bathrooms, or could you settle for a single bathroom with space to add a second one in the future? These types of compromises can sometimes shave tens of thousands off your purchase price. We’re happy to offer our thoughts on the features that you’re likely to find within your budget.
 

Consider Fixer-Uppers

Looking to cut purchase costs? Don't shy away from homes that need a little TLC.22 Fixer-uppers usually come with a lower price tag, and you can personalize the renovations to your taste. Just be sure to factor in the cost of repairs and renovations when determining your budget—and to be realistic about your own home repair skills! If you’re interested in exploring fixer-upper opportunities, we can help you identify properties with potential and connect you with reliable contractors.
 
 ROADBLOCK #5: I'm Overwhelmed by the Process


Buying a home can feel like navigating a maze. Between searching for properties, securing financing, negotiating contracts, and handling paperwork, the process can quickly become overwhelming. But you don’t have to do it alone! We can simplify every step, helping you stay organized, informed, and confident in your decisions.

 

Find the Right Home Faster

The sheer number of listings on the market can be daunting, and homes that meet your criteria may not always be easy to find. Our team can:


  • Save you time by narrowing down homes that fit your budget, needs, and lifestyle.
  • Get you access to off-market and pre-listing properties that aren’t widely advertised.
  • Provide insights on local market trends to help you make a competitive offer.


Navigate Financing & Paperwork With Ease

Real estate transactions involve complex contracts, legal documents, and lender requirements. One misstep could delay your purchase—or even cost you your dream home. We will:


  • Help you find down payment assistance or grants that you may not be aware of.
  • Explain mortgage options and connect you with reputable lenders.
  • Ensure all purchase documents are accurate and deadlines are met.


Score the Best Deal

Many buyers worry about overpaying for a home or getting stuck with costly repairs, but we know how to:


  • Use expert negotiation tactics to secure the best possible price.
  • Identify hidden costs so you aren’t caught off guard at closing.
  • Negotiate repairs or seller concessions to save you money.


Streamline Inspections & Closing

The home inspection and closing process can bring last-minute surprises. We avoid these by:


  • Helping you interpret inspection reports and advising on necessary repairs.
  • Coordinating with lenders, appraisers, and title companies to keep everything on track.
  • Preparing you for closing day so you know exactly what to expect.


Benefit From Ongoing Support

Our relationship doesn’t end once you get the keys. We always go the extra mile to:


  • Recommend trusted contractors for renovations and repairs.
  • Help you make strategic upgrades through complimentary real estate consultations.
  • Provide market updates in case you want to refinance or sell later.


The bottom line? You don’t have to navigate this process alone. When you work with us, you’ll have a trusted partner to handle the complexities, answer your questions, and ensure everything goes smoothly from start to finish.


LET’S TURN ROADBLOCKS INTO STEPPING STONES TOWARD YOUR DREAM HOME


Buying a home may come with challenges, but none of them are impossible to overcome. With the right strategies, resources, and expert guidance, you can navigate these obstacles with ease.


Whether you're worried about saving for a down payment, qualifying for a mortgage, or finding the right home in your price range, there are solutions available to help you move forward. The key is to stay informed, explore all your options, and work with professionals who can guide you every step of the way.


Our team is here to help you find the right home, secure the best financing, and negotiate the best deal—without the stress and uncertainty of doing it all yourself. Let’s turn your homeownership dreams into reality. Contact us today to get started!

 

The above references an opinion and is for informational purposes only. It is not intended to be financial, legal, or tax advice. Consult the appropriate professionals for advice regarding your individual needs.

 

 

SOURCES:

1.    Bankrate - 
 https://www.bankrate.com/mortgages/home-affordability-report/#unaffordability

2.    Nerdwallet - 
 https://www.nerdwallet.com/article/mortgages/2025-home-buyer-report

3.    Bankrate - 
 https://www.bankrate.com/mortgages/first-time-homebuyer-grants/#types

4.    Down Payment Resource - 
 https://downpaymentresource.com/

5.    Bankrate - 
 https://www.bankrate.com/mortgages/types-of-mortgages/#government-backed

6.    Bankrate - 
 https://www.bankrate.com/mortgages/understanding-va-loans/

7.    Bankrate - 
 https://www.bankrate.com/mortgages/what-is-a-usda-loan/

8.    National Association of Realtors - 
 https://www.nar.realtor/research-and-statistics/research-reports/highlights-from-the-profile-of-home-buyers-and-sellers

9.    Business Insider - 
 https://www.businessinsider.com/boomers-not-waiting-pass-inheritance-wealth-transfer-millennials-need-it-2024-7

10.  Experian - 
 https://www.experian.com/blogs/ask-experian/down-payment-gift-rules/

11.  Bankrate - 
 https://www.bankrate.com/home-equity/homeowner-equity-data-and-statistics/

12.  Nerdwallet - 
 https://www.nerdwallet.com/article/mortgages/adjustable-rate-mortgage-arm

13.  Lending Tree - 
 https://www.lendingtree.com/home/mortgage/what-is-a-hybrid-mortgage/

14.  Investopedia - 
 https://www.investopedia.com/terms/d/discountpoints.asp

15.  Lending Tree - 
 https://www.lendingtree.com/home/mortgage/what-to-know-about-owner-financing/

16.  National Association of Realtors - 
 https://www.nar.realtor/blogs/economists-outlook/home-for-the-holidays-the-rise-of-multi-generational-home-buying

17.  Consumer Financial Protection Bureau - 
 https://www.consumerfinance.gov/consumer-tools/credit-reports-and-scores/

18.  Nerdwallet - 
 https://www.nerdwallet.com/article/mortgages/debt-income-ratio-mortgage

19.  Bankrate - 
 https://www.bankrate.com/mortgages/what-is-an-fha-loan/#requirements

20.  Bankrate - 
 https://www.bankrate.com/real-estate/low-inventory-housing-shortage/

21.  Realtor - 
 https://www.realtor.com/advice/buy/priced-out-of-dream-neighborhood-cheaper-alternative/ 

22.  This Old House - 
 https://www.thisoldhouse.com/buying/21017198/buying-a-fixer-upper-house

Ready to Buy or Sell a Home? Here Are 5 Key Factors in Choosing the Right Agent

June 2, 2025
Navigating the real estate market without guidance is like starting an expedition without a map. Whether you're selling your cherished family home or searching for your dream property, having the right real estate agent by your side can make all the difference. According to a 2024 report from the National Association of Realtors, agent-represented homes sold for a median price of $435,000, compared to just $380,000 for those sold by owners alone. 1

Selling Your Home In 2025? Here's What Buyers Want (And How To Deliver)

May 5, 2025
Thinking about listing your home in 2025? If so, you're smart to start planning ahead. With housing inventory rising in many market segments, today’s sellers need more than just a “for sale” sign to stand out. 1 The good news? You can still make a strong impression and command top dollar—if you know what today’s buyers are really looking for. We’ve outlined six of the top homebuyer priorities in 2025, along with a clear action plan to help you position your property for success. Whether you're weeks or months away from listing, these insights will help you attract serious offers and maximize your return. BUYER PRIORITY #1: Move-In-Ready Condition Buyers want homes that are ready to enjoy from day one. In fact, a recent survey found that 94% of buyers said it was either “very important” or “somewhat important” to buy a home that’s move-in ready. 2 Properties that feel fresh and well-maintained are far more likely to attract competitive offers. Seller Action Plan: Refresh your interior. This might include painting rooms in neutral, contemporary colors and swapping outdated fixtures for more modern alternatives. We may also recommend that you take down heavy drapery or dated blinds to brighten your space and clean or replace flooring to create a clean and cohesive look. Fix anything that’s broken. If something isn’t working quite right, repair it now. Provide maintenance records, if you have them, and consider a pre-listing inspection to identify potential issues early—helping avoid delays or negotiations later. We can advise you on the best course of action given your circumstances and your home’s condition. Strategically enhance kitchens and bathrooms. Modern kitchens and bathrooms are a major selling point for many buyers. 3 While you don’t necessarily need a full remodel, smaller updates—like replacing kitchen appliances or retiling a bathroom shower—can make a big difference. At a minimum, ensure all surfaces–-including cabinets, countertops, and floors—are clean and in good condition, and address any grout issues or needed repairs. Our team can help you identify and prioritize strategic improvements that will maximize your home's appeal and market value. Contact us for a free evaluation! BUYER PRIORITY #2: Flexible Closing Timelines Many of today’s buyers are juggling complicated schedules and circumstances, especially if they need to time the sale of their current home with the purchase of their new one. If you are able to offer a flexible closing timeline, it can deliver an advantage. Seller Action Plan: Define your ideal timeline and explore your level of flexibility. We can discuss your goals and expectations for a closing timeline and consider how much flexibility you might be able to offer buyers. This will depend on your specific circumstances, but additional leeway can be helpful Make a plan to get out of your home quickly if needed. Some buyers need to move out of their current home quickly or relocate by a certain date to start school or a new job. Therefore, they may require an accelerated closing timeline. These buyers will be particularly interested in finding sellers who are willing and able to accommodate a fast closing. Worried about finding a new home if yours sells quickly? We can help you assess your options. 4 Leverage your real estate agent’s negotiation expertise. Closing dates can be tricky to navigate. As experienced professionals, we can help you work through the details to arrive at a mutually beneficial arrangement for you and the buyer. Trying to figure out a plan for your move? Schedule a free consultation to discuss your specific selling timeline and explore flexible closing options. BUYER PRIORITY #3: Assistance & Incentives The high cost of purchasing a home leaves many homebuyers financially tapped out. Offering strategic assistance and incentives can make your property stand out and attract a larger pool of potential purchasers. That’s why, in a recent survey of real estate agents, the majority recommended offering some type of homebuyer incentive. 5 Seller Action Plan: Consider closing cost assistance. Closing costs remain a significant barrier for many homebuyers, especially first-timers or those with limited savings. You might cover some of these expenses—such as mortgage fees or the buyer’s agent commission—using proceeds from the sale 6 . This type of assistance can make a big difference in helping buyers afford your home. Evaluate the value of a mortgage rate buydown. Another option popular with buyers is a temporary or permanent mortgage rate buydown. 7 This means that you pay a lump sum upfront to reduce their mortgage rate (and their monthly payments), making a home purchase significantly more affordable for buyers. Offer an improvement allowance or home warranty. For homebuyers who are already stretched financially, the cost of home improvements and repairs can be a big concern. One way to alleviate those concerns is to offer a home improvement allowance. For example, you could offer to pay a set amount toward new kitchen appliances or to replace worn carpeting. Another solution is to offer buyers a one-year home warranty from a reputable provider. The most effective incentive strategies will depend on your specific property and its target buyers. Our team can help you identify creative and impactful options tailored to your home. BUYER PRIORITY #4: Curb Appeal A well-maintained and visually appealing exterior, often referred to as "curb appeal," is essential for generating interest and bringing buyers in the door. In fact, 97% of Realtors say that curb appeal is important to buyers, and research indicates that properties with strong curb appeal tend to sell faster and for higher prices. 8 Seller Action Plan: Maintain an immaculate exterior. Ensure your landscaping is well-maintained while it’s on the market, with your lawn mowed, hedges trimmed, and flower beds weed-free. If this isn’t your strong suit, invest in a professional service. When it comes to your home itself, a welcoming entrance with a clean, freshly painted front door and updated hardware can make a big difference. Address visible exterior elements. Inspect and touch up any peeling or faded paint on the siding or trim, and repair or replace any damaged siding or roofing. Check that your walkways and driveway are in good condition and that your outdoor lighting is sufficient and in working order. Keep things clean. Thoroughly power wash the siding, walkways, driveway, and any other exterior surfaces to remove dirt, grime, and mildew. Clean all windows and screens, both inside and out, to maximize natural light and improve the overall appearance of your home. We’re happy to offer specific recommendations to enhance your property's curb appeal and to refer you to landscapers, painters, and other professionals for help. BUYER PRIORITY #5: Functional Spaces Today's buyers often prioritize properties that offer flexible and functional living spaces capable of adapting to their evolving needs, ranging from entertaining to remote work. 9 This includes the increasing importance of reliable, high-speed internet connectivity, which has become essential for work and school, smart home technology, and overall modern living. Seller Action Plan: Showcase versatile spaces to highlight their adaptability. Stage rooms to demonstrate their potential for various uses, such as a dedicated home office, a guest room that can also serve as a workout space, or a flexible living area that can accommodate a reading nook. Highlight storage and organization solutions. Functional living isn’t just about primary spaces—it’s also about smart storage. Showcase built-in shelving, closet systems, and other storage solutions that help keep the home organized and clutter-free. This gives buyers a sense of ease and livability. Keep connectivity in mind. Today’s buyers want high-tech capabilities without sacrificing style. 10 High-speed internet access has become increasingly important, and technology features—like home automation systems and built-in charging stations—offer seamless integration while preserving a clean, modern aesthetic. If your home features any coveted technology features, be sure to highlight them. Our team can help you stage your home to attract more potential buyers. Reach out for our recommendations! BUYER PRIORITY #6: Energy Efficiency & Sustainability With rising utility costs and a focus on environmental responsibility and clean living, buyers are looking for homes with eco-friendly features. 11 A few small changes can help you make the most of that desire and draw in conscious buyers. Seller Action Plan: Incorporate and highlight sustainable materials. Buyers are increasingly drawn to homes that feature eco-conscious design choices. If you’ve used sustainable materials—like bamboo flooring, recycled glass countertops, low-VOC paints, or reclaimed wood accents—make sure to highlight these details. They not only enhance your home’s aesthetic but also signal a thoughtful, environmentally responsible approach to design. Install energy-efficient features. While it isn’t always cost-effective to add these features solely to sell your home, if you plan on making any upgrades to windows, systems, or appliances, keep energy efficiency in mind. You may also want to consider upgrades like a smart thermostat that can both help cut utility bills and show potential buyers that your home is loaded with the latest technology. Take steps to reduce energy loss throughout the home. Simple upgrades like sealing gaps around doors and windows, adding weather stripping, or insulating the attic can significantly improve a home’s energy efficiency. 12 These improvements may seem small, but they can lower utility bills and demonstrate to buyers that the home has been well maintained with long-term savings in mind. We can help you identify the most impactful energy-efficient upgrades and highlight your home’s sustainable features to attract today’s eco-conscious buyers. Partnering for Success: Your Strategic Advantage in Today's Market Successfully selling your home in today’s competitive and ever-evolving market requires more than luck—it demands insight, preparation, and expert strategy. By aligning your listing with the priorities of today’s buyers, you’ll position your property to stand out and sell faster for top dollar. Our team is here to guide you every step of the way. From personalized recommendations and trusted vendor referrals to strategic pricing and marketing, we’re committed to helping you achieve a smooth and profitable sale. Ready to take the next step? Contact us today for a complimentary home value assessment and customized sales plan designed to make your property shine. Let’s work together to turn your real estate goals into reality! The above references an opinion and is for informational purposes only. It is not intended to be financial, legal, or tax advice. Consult the appropriate professionals for advice regarding your individual needs. Sources: 1. The Mortgage Report - https://themortgagereports.com/111334/monthly-for-sale-home-listings 2. Bright MLS - https://brightmls.com/article/what-will-homebuyers-want-in-2025 3. Homelight - https://www.homelight.com/blog/which-renovations-increase-home-value/ 4. Homelight - https://www.homelight.com/blog/buyer-how-to-buy-a-house-while-selling-your-own/ 5. Homelight - https://www.homelight.com/blog/real-estate-top-agent-insights-for-end-of-year-2024/ 6. Federal Housing Finance Authority - https://www.fhfa.gov/blog/insights/opening-new-doors-overcoming-obstacles-to-attain-affordable-homeownership 7. LendingTree - https://www.lendingtree.com/home/mortgage/buydown/ 8. National Association of Realtors - https://www.nar.realtor/research-and-statistics/research-reports/remodeling-impact-report-outdoor-features# 9. Yahoo - https://www.yahoo.com/lifestyle/home-trends-buyers-looking-2025-151535883.html 10. Apartment Therapy - https://www.apartmenttherapy.com/2025-house-style-trend-prediction-real-estate-37448456 11. National Association of Realtors - https://www.nar.realtor/magazine/real-estate-news/sales-marketing/13-features-new-home-buyers-say-are-essential-desirable 12. EnergyStar - https://www.energystar.gov/saveathome/seal_insulate/why-seal-and-insulate

First Time Home Buyer Grant Programs

By Vickie Landis Rentsel • March 26, 2025
Unlock Your Dream Home: Pennsylvania First-Time Home Buyer Grants You Need to Know 
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