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MarketScreener Homepage  >  Equities  >  OTC Bulletin Board - Other OTC  >  Freddie Mac    FMCC

FREDDIE MAC

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Freddie Mac : Budgeting for Homeownership

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01/23/2020 | 03:25pm EST

One of the first steps in the homebuying process is fully understanding your finances.

Evaluating your budget will require a little homework and determination, but will pay off by helping you determine how much home you can afford.

Housing counselorscan help you assess your financial situation, build or improve your credit and ensure you're well-prepared for homeownership.

To calculate your monthly spending, consider the following:

  • Food
  • Shelter
  • Transportation
  • Medical
  • Education
  • Child care
  • Apparel

A recent Freddie Mac report examined these costs and their effect on homebuyers' ability to buy or rent a home. The research found that while the average family income (two adults, two children), has grown by 18.7% from 1990 to 2018, when adjusted for inflation, child care costs have increased by 49%, education expenses have grown by 90% and housing increased by only 14%. By comparison, costs for transportation and food remained flat in real terms during the period, while the cost of apparel declined.

What does this mean in terms of monthly spending?

  • That national median mortgage payment in 2018 was $1,566 while the national median rent was $899.
  • While student loan payments have risen, they are far less than monthly child care expenditures, averaging about $378 per month.
  • Families spend, on average, $715 a month on child care. For families with younger children, the cost is steeper at $948.

The data highlights both the impact of monthly expenses and the value of weighing them against your ability to purchase a home. To help you start this process, consider contacting a housing counselor who can help you assess your financial situation, build or improve your credit and ensure you're well-prepared for homeownership.

For more tips to help you on your homebuying journey, visit MyHome® by Freddie Mac.

Disclaimer

Freddie Mac - Federal Home Loan Mortgage Corporation published this content on 23 January 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 23 January 2020 20:24:00 UTC

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Financials (USD)
Sales 2020 12 945 M
EBIT 2020 -
Net income 2020 -
Debt 2020 -
Yield 2020 -
P/E ratio 2020 -
P/E ratio 2021 -
Capi. / Sales2020 0,78x
Capi. / Sales2021 0,75x
Capitalization 10 115 M
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Income Statement Evolution
Consensus
Sell
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Mean consensus OUTPERFORM
Number of Analysts 5
Average target price 4,38  $
Last Close Price 3,14  $
Spread / Highest target 123%
Spread / Average Target 39,3%
Spread / Lowest Target -36,3%
EPS Revisions
Managers
NameTitle
David M. Brickman President, Chief Executive Officer & Director
Sara Mathew Non-Executive Chairman
Donald Kish CFO, Chief Accounting Officer, SVP & Controller
Frank Nazzaro Chief Information Officer & Executive VP
Eugene B. Shanks Independent Director
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