Physician mortgage loan in Phoenix | Still Think You Need 15-20% Down to Buy a Home? Think Again!
Most of the young families would like to buy a new home in today’s market. We know how important that you choose the right one that suits your wants, needs and budget.
Today I would like to talk to you about Still Think You Need 15-20% Down to Buy a Home? Think Again!
According to a new study from Urban Institute, there are over 19 million millennials in 31 cities who are not only ready and willing to become homeowners, but are able to as well!
Now that the largest generation since baby boomers has aged into prime homebuying age, there will no doubt be an uptick in the national homeownership rate. The study from Urban Institute revealed that nearly a quarter of this generation has the credit and income needed to purchase a home.
Surprisingly, the largest share of mortgage-ready millennials lives in expensive coastal cities. These cities often attract highly skilled workers who demand higher salaries for their expertise.
So, what’s holding these mortgage-ready millennials back from buying?
Myths About Down Payment Requirements!
Most of the millennials surveyed for the study believe that they need at least a 15% down payment in order to buy a home when, in reality, the median down payment in the US in 2017 was just 5%, and many programs are available for even lower down payments!
The study goes on to point out that:
“Despite limited awareness, every state has programs that provide grants and loans to make homeownership more attainable, with average assistance in various states ranging from $2,436 to $21,171.”
With so many young families now able to buy a home in today’s market, the demand for housing will continue for years to come. If you are one of the many millennials who have questions about their ability to buy in today’s market, let’s get together so we can assist you along your journey!
At Physician Loans USA, we have a staff that you can connect with via phone or e-mail. Our corporate promise to you is that we will be same business day of your initial inquiry. We take pride in helping relocating physicians throughout the country, and understand the hectic schedule your profession demands.
PLEASE CHOOSE A STATE BELOW AND WE WILL CONTACT YOU DIRECTLY TO GET STARTED.
Physician Loans USA, Real Estate Solutions for Doctors, matches borrowers with potential lenders and agents in the field of mortgage lending, home buying and relocation services.
To connect with us directly,
Please call Mike at 833-437-5626
Or via email: INFO@PHYSICIANLOANSUSA.COM
Visit us at www.physicianloansusa.com
Call or text 833-437-5626 for more information