Millennials Flock Towards Low Down Payment Programs

    Millennials Flock Towards Low Down Payment Programs Millennials Flock Towards Low Down Payment Programs | MyKCM A report released by Down Payment Resource shows that 61% of first-time homebuyers purchased their homes with a down payment of 6% or less.  The trend continued among all buyers with a mortgage, as 73% made a down payment of less than 20%.  An article by Chase points to a new wave of millennial homebuyers:  “We teamed up with Google to help us better understand what customers are searching for and how the home buying landscape is evolving. We found that millennials and first-time homebuyers are making a big splash in the market, and affordability remains top of mind.”  Among millennials who purchased homes, David Norris, Loan Depot’s Head of Retail Lending, said:  “It’s clear from the survey results that Millennials have a lot of anxiety built up about the home buying process.  There is good news, however, as there’s more flexibility than most Millennials think regarding how to qualify for a loan and what’s needed for a down payment.”  Bottom Line If you are one of the many millennials who is debating a home purchase this year, let’s get together to help you understand your options and set you on the path to preapproval.

    report released by Down Payment Resource shows that 61% of first-time homebuyers purchased their homes with a down payment of 6% or less.

    The trend continued among all buyers with a mortgage, as 73% made a down payment of less than 20%.

    An article by Chase points to a new wave of millennial homebuyers:

    “We teamed up with Google to help us better understand what customers are searching for and how the home buying landscape is evolving. We found that millennials and first-time homebuyers are making a big splash in the market, and affordability remains top of mind.”

    Among millennials who purchased homes, David Norris, Loan Depot’s Head of Retail Lending, said:

    “It’s clear from the survey results that Millennials have a lot of anxiety built up about the home buying process.

    There is good news, however, as there’s more flexibility than most Millennials think regarding how to qualify for a loan and what’s needed for a down payment.”

    Bottom Line

    If you are one of the many millennials who is debating a home purchase this year, let’s get together to help you understand your options and set you on the path to preapproval.

    Keeping Current Matters with Rinehart Realty

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    Jordan Forney

    Jordan is a recent graduate of Lenoir-Rhyne University where he received his BA in Multimedia Communications while also playing football all four years that he was enrolled. Jordan has experience in writing and photography from his time working for the school newspaper, Lenoir-Rhyne News (LRN). He also has marketing experience with WLRZ 99.3 where Jordan produced and aired PSAs and was in charge of marketing with the social media accounts. He was a part of the marketing team for the Lenoir Oiler's baseball team as well where he had a lot of the same responsibilities. Now Jordan works at Rinehart Realty where he is increasing his experience by posting blogs, maintaining social media accounts, and working directly under the Director of Marketing.

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