Homeowners May Be Overconfident in Remodeling Skills

The last few years, the home improvement business has been booming as more homeowners look to spruce up their homes. But are owners getting too confident that they can do it all themselves? “Costs, pop culture, and perhaps overconfidence could be driving DIY culture,” according to a new study from NerdWallet, a personal finance website.

NerdWallet’s 2018 Home Improvement Report found that younger generations are particularly gung-ho about tackling home improvement projects themselves than other age groups.

Credit Scores Take a Ding After a Home Purchase

Credit scores often take about 11 months to fully recover after a consumer purchases a home, according to a new study by LendingTree, an online loan marketplace.

After a buyer purchases a home, their credit scores fall by an average of 15 points, but it takes 160 days—or slightly over five months—for the full impact to take effect.

Columbus, Ohio Ranks in the top 10 for recovery speed, though.  Read more HERE.

 

How Does Ohio Rank in Downpayments?

The average down payment for a home is decreasing, which could be good news for those looking to buy. Prospective buyers may need to save less money for a down payment, according to a new study by LendingTree.
The average down payment amount for U.S. homes dropped in the third quarter by nearly 10 percent, falling from $52,480 to $47,265, the study shows. However, the overall average down payment percentages for conventional 30-year, fixed-rate purchase mortgage offers stayed about the same—about 18.05 percent.
LendingTree ranked states based on their average down payments.

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