If you're a first-time homebuyer or simply worry about being able to afford a down payment on a home, you're not alone. Reaching the suggested 20% down payment mark can be a tall task, and seem like an insurmountable obstacle to some. If you live in the St. Louis or St. Charles area, you no longer have to worry about finding enough money in your budget to put down a healthy down payment for a house you're interested in buying.

Have you ever wondered how much you need to budget for a down payment on a house? Like any other large purchase, lenders usually want a down payment to secure a mortgage. The amount may vary depending on your situation, but most financial advisors recommend paying at least 20% of the value of the home as a down payment. First of all, this reduces the total amount you have to borrow. It also covers Private Mortgage Insurance (PMI) fees that lenders would include if you don't reach the 20% down-payment threshold.

Buying a home can be a complicated process and it can really be difficult to decide where you start.  Have no fear! HomeTraq is here to help whenever possible!

There’s little doubt that COVID-19 has changed our lives significantly over the last days and weeks. There has been so much information released as a result of these unprecedented times that it’s been hard to keep up. To keep things clear, and to help you sift through all the information you’re getting, we wanted to provide a resource so you can better understand recent legislation enacted to help homeowners impacted by the COVID-19 pandemic.

Lots of people – even those we love – don’t make good on promises; your credit takes an immediate hit

In a competitive market where homes can fly off the market in a week or less, it’s essential that buyers come to the table prepared. Here’s a list of steps every home buyer should consider in their search.