Articles Tagged with ''First-time home buyers''

Millennials drive homeownership rate increase in Q3

First-time homebuyers transition from renting
The homeownership rate increased slightly in the third quarter, both month-over-month and annually. This increase was driven primarily by first-time homebuyers as more Millennials opted out of renting, and entered into the homeownership market.
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Genworth reaches first-time homebuyers with unique borrower programs

Home Suite Home protects borrowers from unexpected, non-recurring homeownership costs
Now that first-time homebuyers are ready to buy a home, how can you prove you’re the right lending partner for them? Genworth offers innovative products designed to let our lending partners help their borrowers with exclusive programs like our First-Time Homebuyer Suite, Homebuyer Privileges, Homebuyer Education, Homeowner Assistance Program, and Home Suite Home.
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Top 5 cities where a down payment is least affordable

Survey reveals worst cities for first-time homebuyers
A survey highlights where first-time homebuyers are bound to have the most trouble saving for a 20% down payment. Using data on income and savings for residents ages 24 to 36, it analyzed the biggest 35 metros and the results are slightly alarming. One fun fact: It could take the average Millennial in Portland more than 13 years to afford a house.
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From HW Magazine

Providing education for first-time homebuyers is essential

Mortgage insurance can help with cost concerns
First-time homebuyers are a significant segment of the real estate market, making up 34% of all homebuyers last year. As the market heats up and eyes turn to homeownership, lenders and agents have an opportunity to position themselves as trusted advisors for this segment. Helping to make the dream of homeownership a reality for first-time homebuyers (FTHB) requires understanding of what motivates them, what unique challenges they face, and the resources available to ease the process.
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First-time homebuyers: Should I rent or buy?

MJ Watkins at Radian discusses the hurdles first-time homebuyers face, and a solution.
At Radian we want all FTHB to be prepared, so we provide tools to help them understand how buying their first home could be within their reach. A key part of a buyer’s educational journey includes a discussion about the benefits of mortgage insurance -- a financial tool that creates a path to homeownership by allowing buyers to purchase sooner with less money down.
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First-time homebuyers key to opening access to credit

And why setting a homeownership rate goal doesn’t make sense
Access to credit remains tight not only compared to the housing boom years but also compared to historical levels. At the Mortgage Bankers Association Secondary conference in New York City, panelists at the Access to Credit session discussed how to safely open the credit box, and what some of the current hindrances are.
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Freddie Mac: Mortgage rates decrease for first time in weeks

First-time buyers increase market share
Mortgage interest rates have continued to increase, and last week even hit the highest level since 2013, but they decreased for the first time in weeks. And what’s more, it seems even the previous increasing trend hasn’t dampened the demand of this year’s homebuyers or kept first-time homebuyers out of the market.
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The first-time Millennial homebuyer just turned 30

Millennials step up their borrowing game from February to March, yet still have to rent longer
The average Millennial homebuyer just turned 30. According to Ellie Mae's latest report, the average age of a Millennial homebuyer rose from 29.5 in March 2017 to 30.1 in March of this year. Ellie Mae points to the compression of inventory largely due to Baby Boomers aging in place instead of relocating and retiring as the reason for the average age of the Millennial homebuyer to creep up into the 30s.
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