Homeownership rates for the under 40 crowd have dropped notably in the past few years. Leading finance experts consider this a result of higher college debt, higher credit card debt, increases in childcare costs, and a lower inventory of starter homes.
The good news is many new loan programs are designed specifically to provide first time home buyers a better opportunity to qualify for financing in spite of the challenges they face.
Here are tips that can help a First Time Home Buyer:
There is overwhelming statistics proving that our nation is facing a housing shortage crisis. The shortage has caused substantial sales price increases, preventing many potential buyers from affording home ownership.
We are all anxious to spend more time enjoying our outdoor living space, whether it is a backyard, front yard, or patio! However, our enthusiasm can quickly fade as we look around at our worn and weathered outdoor furniture and accents.
Yes you read that correctly! Lenders are now allowed to Gift Money Back to you at time of loan closing.*
When you consider the loan programs that offer a low 3% down payment, combined with the money Mortgage Lenders can Gift you back toward closing costs, the decision to buy a new home now is very enticing!