Is Buying a Home Your New Year Resolution?

The holiday season is all about traditions, and one of the biggest traditions is making a New Year’s resolution. It’s time for many of you to start thinking about your New Year’s resolution. What if your resolution is owning a home? After all, it’s a new year and a new you.

As we head into 2019, more millennials are aging into their early or mid-thirties and are interested in homeownership. They continue to be the primary drivers of homeownership demand.  

According to Keeping Current Matters, more than half of the purchased mortgages originated by Fannie Mae and Freddie Mac in 2018 were to first-time homebuyers.

So, what is Fannie Mae and Freddie Mae?

Fannie Mae and Freddie Mac are two big reasons we have 30-year fixed home loans in the US. Fannie Mae loans offer down payments as low as 3 percent. While Freddie Mac Loans offer down payments as low as 3 to 5 percent.

Did you know:

•            86 percent of millennial buyers consider owning a home to be more affordable than renting.
• ·         80 percent of millennial buyers say homeownership has positively impacted their long-term finances. 
• ·         60 percent of millennial buyers would encourage their younger selves to start saving for house sooner.

Most millennials feel that the economy’s holding steady, and the time could be right to buy. If that sounds like you, make your new year resolution come true.  Feel free to start the process off right by talking to us. We can answer your questions and help you get pre-qualified.

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