For millennials, this is the greatest hurdle to homeownership

For millennials, this is the greatest hurdle to homeownership As far as Tatiana Skomski is concerned, the American dream is alive and well — although just beyond reach. Skomski, 24, lives with her boyfriend, K.J., and their dog, Lola, in Portland, Ore. They picture getting married, buying a house and starting a family. "It's a … Continue reading For millennials, this is the greatest hurdle to homeownership

Millennials’ New Weapon in Bidding Wars: A Parent’s Home Equity

~ not sure if you can do this? but if you are able to, I would give it a go ~ Millennials' New Weapon in Bidding Wars: A Parent's Home Equity Call it the mortgage merry-go-round: Parents refinance their home to fund the full cost of their son or daughter’s desired home. This allows the … Continue reading Millennials’ New Weapon in Bidding Wars: A Parent’s Home Equity

Lower Down Payments Make Homeownership More Accessible

Lower Down Payments Make Homeownership More Accessible Although DownPayment Resource is reporting in their Down Payment Report for June that homeownership is struggling—63.9 percent of the population and falling—newer “super low down” loans are starting to become more popular with millennials to get their foot in the home-ownership door. The standard 20 percent down payment … Continue reading Lower Down Payments Make Homeownership More Accessible

Homebuyer Hurdles

Check out these articles ~ The Down Payment is the Big Thing   Millennial Homebuyer Capacity is Shrinking   Rising Mortgage Rates Leave First-Time Buyers Timid

Young adults need to save for at least 5 years to buy a home: study

Young adults need to save for at least 5 years to buy a home: study We know buying a home isn’t a realistic possibility for most Americans. Particularly among homebuyers 35 and younger, affordability is a central concern, with 32.5% citing it as their primary worry. Only 7% said they had no concerns about the … Continue reading Young adults need to save for at least 5 years to buy a home: study

Prospective Homeowners Held Back by Financial Situation

From The MReport.com 2/9/16 Although rents continue to rise at a rapid pace, many non-homeowners are still shying away from the real estate market due to down payment and credit score troubles. Zillow's Rent Forecast found that rents will flatten in 2016, but will still be unaffordable in most markets. This presents yet another challenge for … Continue reading Prospective Homeowners Held Back by Financial Situation

Down Payment Assistance ~ Riverside

Down Payment Assistance Thank you for your interest in our Down Payment Assistance Program. The City of Riverside has recently been awarded a CalHOME Grant from the State of California Department of Housing & Community Development. As of January, 2016, funds are still available!  Please contact a lender from our approved Lender list below in … Continue reading Down Payment Assistance ~ Riverside

MyHome mortgage assistance for first-time homebuyers

From First Tuesday 11/17/15 First-time homebuyers haven’t had much luck in recent decades. Born to disproportionately successful Baby Boomers and entering the job market in a severe economic recession, members of Generation Y (Gen Y), a significant component of the first-time buyer population, struggle with low wages and high debts. These compounding obstacles are delaying … Continue reading MyHome mortgage assistance for first-time homebuyers

Should You Save for a Down Payment Or Buy a Home Now?

From Credit.com 5/20/15 Are you saving up to buy a home down the road? It makes sense from a personal financial planning perspective, but when it comes to whether it actually helps you get your foot in the door, you may want to reconsider.Why? In most cases, your ability to save is going to be … Continue reading Should You Save for a Down Payment Or Buy a Home Now?