With summer just around the corner, many potential homebuyers are noticing that the longer days aren’t the only things heating up. As home prices continue to climb around the nation, some borrowers may wonder about the affordability of homeownership.
Never fear! With a multitude of home loan products available, including down payment assistance programs, experienced lenders may be able to help you find the right financing for your unique needs, despite a tightening housing market.
Additionally, there are still plenty of locations around the country where your dollar can go a long way towards buying a home. With the strengthening economy, many consumers find themselves in a position with more money to spend. In certain cities with lower median home values, those extra dollars may result in increased purchasing power for a borrower.
Here are the 12 best cities for housing market purchasing power, as published in a recent analysis of home values from First American:
12. Providence, Rhode Island
11. Chicago, Illinois
10. Portland, Oregon
9. Virginia Beach, VA
8. Raleigh, North Carolina
7. Philadelphia, Pennsylvania
6. Hartford, Connecticut
5. Memphis, Tennessee
4. Oklahoma City, Oklahoma
3. Baltimore, Maryland
2. Washington, D.C.
1. Pittsburgh, Pennsylvania
Are you ready to see how far your dollar can go? Contact a loan officer near you to discuss your potential home financing options today.
Castle & Cooke Mortgage, LLC® (NMLS #1251) is a leading independent mortgage lender headquartered in Draper, Utah, with locations across the United States.
Information contained in this Blog does not constitute legal, financial, or other professional advice or services and should not be used as a substitute for professional advice. The purpose of the Blog is to provide Castle & Cooke Mortgage, LLC’s opinions and general guidance on certain matters related to mortgages. The reader accepts full responsibility for use of the information contained herein.
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