While low affordability is the biggest obstacle most renters face in becoming homeowners, the California Association of Realtors says 14-percent of renters are foregoing a purchase because they lack financial knowledge. But locally, the past president of the Nevada County Association of Realtors, Teresa Dietrich, says she’s not seeing that as much here…

The state association report says 73-percent of renters believe a down payment of at least 20-percent is required to purchase a home and 72-percent are unaware of loan programs that require less than the 20-percent down payment. But the report also says less than two-percent of all renters in Nevada and Sierra counties can qualify to be a homebuyer. Dietrich says local fees can also raise the price by as much as 45-thousand dollars…

Dietrich says the California Association of Realtors is also working on legislation that would put a cap on fees. The counties with the largest number of qualified renters are Los Angeles, San Bernardino, San Diego, and Sacramento.