First Time Home Buyers Bono AR

If you’re looking for information about first–time home buyers in Bono, AR, this is updated as of May 2023. According to TheMortgageReports.com, you’ll need a minimum credit score of 640, a household income of no more than $137K per year, and a maximum debt-to-income ratio of 45%. Also, it must be a primary residence. This article will continue to explore the subject of buying a first home in this area.

According to LendingTree.com, “the size of your down payment on a house in Arkansas depends on the loan.” For example, an FHA Loan, your down payment will be 3.5%, whereas a conventional loan can be as much as 20%. According to Jonesboro.org, the Grants and Community Development Team is in place to “expand home ownership opportunities to our low and moderate income citizens.”

According to Niche.com, Bono, AR, is popular with families and anyone who enjoys a suburban-rural residential environment with access to affordable housing in family-friendly neighborhoods with short commutes, a good cost of living, and good schools. It’s also known for having a diverse culture with good nightlife options, so it’s as good for families as for young professionals. This is a good area to consider.

According to RocketHomes.com, median home values in Bono as of May 2023 are down 15.9% since March 2023. Home listings are up 75%, making inventory at an all-time high. If you’re a buyer, you might be thinking this is a good time to get into the market and get a lot for your dollar. You’re not wrong, provided you avoid the pitfalls of even the savviest buyers. Call today to get accurate answers to questions and learn what homes fit your budget.

• First-time home buyers in Bono, AR, can get help from a local real estate professional.