Posted To: Pipeline Press
Loan officers know that rent is a “piece of the puzzle,” “a part of the equation” in the homebuying decision. They should be glad to know that the typical rent in the U.S. is now $1,600 , an annual increase of 2.3% in October. I’m simplifying things quite a bit, but it is not lost on LOs that a $1,600 monthly outgo, including taxes and insurance after a $20,000 down payment, buys someone a $300,000 house at current rates. And it’s still the American Dream! What isn’t in the American Dream is having your personal information sold by motor vehicle departments around the nation. For example, the California DMV pocketed $52,048,236 in revenue in the 2017-18 financial year through the sale of drivers’ personal information. California is not alone in…(read more)
Source: Mortgage News Daily
