July 2014

28 Jul 2014

Millennials, Mortgages and the Marketplace

A lot of recent media attention has been focused on housing and the Millennial buyer. Millennials (born from the early 1980s to the early 2000s) are responsible for 31 percent of recent home purchases, according to the National Association of Realtors®. During the recession of recent years, many Millennials moved in with their parents until they felt comfortable and stable in their job situation. Now this generation is financially prepared – and ready to purchase their first homes. So what do you need to know about mortgage financing if you’re a Millennial in today’s real estate market? Review your credit. Credit is an integral part of the financing process. You will need to understand your credit profile and be aware of what lenders are...
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