May 25, 2017
- Despite the spike in the national mortgage interest rate and the low inventory of U.S. homes, 2017’s first quarter sold at its fastest pace in over ten years. As a result, home prices are increasing. There are fewer perspective homes; however, the pool of buyers is immense. Though there is an increase in the purchase of homes, millennials don’t seem rushed to purchase a home.
- Guild Mortgage company is creating a new down payment trend. The mortgage company is offering a 1% down payment plan aimed at increasing the number of millennials willing to purchase homes. Qualifying applicants will be required to pay a 1% down payment and opt for a 2% grant or 2% paid by the lender. Guild’s program is unique from other 1% mortgage programs because it complies with the Home Ready Guidelines.