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Four things homebuyers should expect in 2011

Home prices and mortgage rates are expected to stay low in 2011.

Home prices and mortgage rates are expected to stay low in 2011.

Wallet Pop, a consumer finance website, recently highlighted four things homebuyers should look for when buying a home in 2011.

According to the website, home prices and mortgage rates should stay at similar levels to those of 2010 next year, but those prices should rise in areas where job growth is high.

The report also believes mortgage loan guidelines will force homebuyers to put a larger down payment aside for a home. The site said a recent study by the Home Buying Institute claims 87 percent of home buyers plan to use an FHA loan to finance their purchase due to easier qualifying guidelines.

Also predicted in the article include condos becoming more difficult to buy because of current condo owners failing on paying their loan payments on time, as well as conservative hoe-buying going up across the board.

According to an FHA survey to measure the popularity and usage of FHA home loans, 58.3 percent said their primary reason for using an FHA loan was due to smaller down payments, while 19.2 percent cited an easier qualification process and 13.5 percent said they were unable to qualify for a regular loan.