Millennials…we hear this group mentioned so often, I’m starting to feel like Jan from the Brady Bunch – “Marcia, Marcia, Marcia!” But I can’t deny how important they are to the MN housing market and economy, so I’ll get over myself to share some important news: The use of FHA loans (and other low down payment programs) to purchase homes is up 23-percent from the first quarter of this year according to RealtyTrac and the interpretation is that more MN first time home buyers are getting into the market. That’s great because we need them! Millennials have been lukewarm about MN homeownership for the last few years, so the real estate community really needs to reach out and share the news that FHA made some changes that make payments more affordable. There’s also other low down payment programs – even MN down payment assistance – so we all need to make sure that we promote all the great options to help people buy MN homes – Millennials or not.
If you’re thinking of buying or selling, I can put you in touch with great real estate and mortgage professionals who specialize in your area and situation. Message me!
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