64.2% of Millennials Put Down Less than 20%

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Real Estate Broker/Owner with Reviron Realty - RDCPro e-Pro Listing Broker BRE# 01455394

Yucaipa Home Buyers

Digital Risk recently polled Millennials about the housing market. Among their findings was the fact that nearly two-thirds of the generation who have recently purchased a home, have done so with less than 20% down; with 36% putting down less than 5%!

Here is a graph detailing the results:

Yucaipa Home Buyers

This means that more and more American’s between the ages of 18 and 34 stopped paying their landlord’s mortgage and started building their own family’s wealth.

Millennials aren’t the only ones taking advantage of lower down payments.

The Federal Reserve Bank of New York found that if the down payment required to purchase a home went from 20% to 5%, a renter’s Willingness To Pay (WTP) increased by 40%.

Yucaipa Homes for Sale

The problem is that thirty-six percent of Americans still think a 20% down payment is alwaysrequired when buying a home. Many renters may actually be able to enter the housing market sooner than they ever imagined with new programs that have emerged allowing less cash out of pocket.

Bottom Line

If you are one of the many renters now realizing that the home of your dreams is obtainable, let's get together and discuss your options.

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Posted by

 

 

Graham Holmes
Broker / Owner - BRE Lic. # 01455394           
REOMAC & NRBA Member - RDCPro™ Certified  -  e-Pro
Res.net Certified – A-Reo Accredited

REviron Realty
Office: 888-640-2346 x 101

Cell: 951-634-4118
fax: 951-514-2959
gholmes@revironrealty.com

www.REvironRealty.com

Yucaipa Listing Agent offering Homes for Sale in Yucaipa and all surrounding communities.

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