In her local market, Lisa Mays built a referral-driven real estate business by turning early investing experience into trusted, relationship-first guidance for buyers

For many homebuyers across Illinois, qualifying for a mortgage isn’t the hardest part of buying a home; it’s coming up with the cash needed for the down payment and closing costs.

Although mortage rates are easing and prices are softening in some regions, Seattle’s homeowners are showing continued caution. New listings have increased compared to a year ago, and borrowing costs have moved lower, but sales activity suggests many prospective buyers remain hesitant to commit in an uncertain economic climate.

Kameron Kang recently joined Monica Neubauer on the National Association of REALTORS® Center for REALTOR® Development podcast to discuss a topic close to our mission at Homebuyerwallet.com: making homeownership accessible through Community Home Investment Programs, or CHIPs.

Homebuyers worry about paying private mortgage insurance (PMI), which is another concern in addition to the down payment and closing costs.Lenders who offer conventional loans need PMI if your down payment is less than 20%. Financial institutions that provide government-backed mortgages ask for insurance too.