The Census Bureau reports that just 36% of Americans under age 35 own a home.
In 2007, that figure was 42 percent.
Some young people enjoy renting ... but my guess is that 9 out of 10 would prefer to own. Tight lending standards have made it tough to get around heavy student debts and light savings.
But Fannie Mae and Freddie Mac have announced programs that would allow first-time buyers to get good home loans with down payments of just 3 percent, instead of 5 percent.
That lower down payment will allow many creditworthy but cash-strapped young buyers to qualify for mortgages.
Pat and I always encourage you to call or email us to see if we can help you.
In 2007, that figure was 42 percent.
Some young people enjoy renting ... but my guess is that 9 out of 10 would prefer to own. Tight lending standards have made it tough to get around heavy student debts and light savings.
But Fannie Mae and Freddie Mac have announced programs that would allow first-time buyers to get good home loans with down payments of just 3 percent, instead of 5 percent.
That lower down payment will allow many creditworthy but cash-strapped young buyers to qualify for mortgages.
Pat and I always encourage you to call or email us to see if we can help you.
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