The Mortgage Advice & Options Un-Married Couples Need to Know
It probably comes as no big surprise, when it comes to the housing market, the younger generations make up the largest percentage of home buyers.
The following statistics from the National Association of REALTORS® Research Group April 2019 Report proves that to be true ...
Millennials made up the largest share of home buyers at 37%. (Breakdown: Older Millennials (Ages 29 yrs to 38 yrs) made up 26%. Younger Millennials (Ages 21 yrs to 28 yrs) made up 11% of the shares reported) 86% of Younger Millennials and 52% of Older Millennials were first-time homebuyers … (34 comments)
mortgage options: Solutions Exist for the Home Buying Challenges Millennials Face
- 10/07/19 07:42 AM
Are You a Millennial Hoping to Buy a Home?Solutions Exist to Address the Challenges You Face It's no secret ... Today's younger generation is finding it much more challenging to buy a home than their parents did. That's troubling and sad, as 9 out of 10 millennials report they want to buy a home. A recent revealing survey released by Apartment List shows that:
1. Only 4.9% of those millennials (those born 1981-1996 (22 to 37 years old) that want to buy a home say they will achieve their homeownership goal within the coming year 2. Around 34% of those hoping to buy a home believe they'll have to wait over 5 years to do so
The culprits robbing these young people of … (30 comments)
What CAN Go Hand-in-Hand? Home Buying & Student Loans!
Conduct a search on the topic "Home Buying with Student Loans" and pages and pages or articles, information, advice, and opinions pop-up ...
"Do Student Loans Affect Buying a House?" "How Student Debt Can Ruin Home Buying Dreams" "Here's How To Buy A House When You Have Student Loan Debt" ... each are an example of the many such articles I found when I conducted my search today. Each article addresses the very real worry that too many hopeful home buyers face as holders of Student Loan debt. The focus of many of these articles is often placed on … (25 comments)
Here's a statistic I find fascinating ... According to a recent survey released by the National Association of Realtors (NAR):
Single-female homebuyers outpace single-male homebuyers by a margin of over 2-to-1.
The percentages reported were 18% single-female to 7% single-male.
These statistics certainly back-up what I personally experience as a Loan Officer in New Lenox - Chicagoland. The number of contacts and requests I receive for information and Pre-Approvals from single females far outweighs the number received from single males.
While not a statistic reported in this survey, here's something I also encounter … (11 comments)
Blogging's always been a great outlet for me as a Mortgage Originator ...
While it's served me well in many capacities, I've always found the greatest benefit takes place during the preparation of my articles. The research, studying, and reading required of me in the production of my posts continually provides me ample and additional opportunities to learn. That's a huge plus for me ... and my clients.
The comments and questions left in response to my posts also prove very valuable too. They often serve as a catalyst for future posts.
In Part 1 of this post, I likened my role as a Mortgage Originator to that of a coach on a sports team ...
The goals are surely similar. And some of the skills, responsibilities and aptitude demanded of each, including the ability to conduct a deep analyzation of their "team" abilities, talents, and options, are much the same.
At initial contact, many of my Borrowers, especially those that are First-Time Home Buyers, have a preconceived notion about the type of loan they're seeking. This is usually a result of their having performed an internet search ... or … (16 comments)
Do you dream of owning a home? If so, you're not alone. Home ownership has been an integral part of the "American Dream" ... some say the defining portion ... for a long long time. The term "American Dream" was first coined by historian James Truslow Adams back in 1931 in his book "The Epic of America".
Adams wrote in that book, "The American Dream is that dream of a land in which life should be better and richer and fuller for everyone, with opportunity for each according to ability or achievement." But the "American Dream" has taken a … (13 comments)
mortgage options: Rule of Thumb Regarding Mortgages: Inquire and Get the Facts
- 04/08/15 05:22 AM
Rule of Thumb Regarding Mortgages: Inquire and Get the Facts There's definitely been an upswing seen in the local Chicagoland housing market, as well as many other markets across the U.S. All good news. But the positive that's spoken loudest to me as a Mortgage Lender has been the "shape" and level of "approvability" of many of my most recent mortgage applicants. Many have been better off than they initially thought and represented themselves as. What do I mean by this? Simply put, during their mortgage search ... and throughout their actual mortgage process, they've found: They were in … (29 comments)
"You're cutting your nose off and spiting your face" ...
Stretching the point just a bit, I want to use this saying to get a message across regarding interest rates ... and the intense focus that most home buyers, and those refinancing, place on them.
Now I know that sounds a bit ironic coming from me, a mortgage lender. But as much as I think the … (22 comments)
;)
;)
;)
