40% thought the mortgage application and approval process were more difficult than expected. 22% said saving for the down payment was the most difficult task in the home buying process & 46% said it took them a year with 24% saying 1-2 years, then 17% 2-5 years & finally 13% more than 5 years. 33% had to repay student loans, 33% have too much credit card debt, another 33% paying on a car loan and lastly 38% paying for extra childcare, healthcare expenses, etc. SACRIFICES to purchase a home are: 48% cut spending on nonessential items, 13% canceled vacations & 7% got extra income through a 2nd job. All this according to Dr. Jim Gaines, economist the Real Estate Center at Texas A&M U.