Blaine MN | Millennials Flock to Low Down Payment Programs

We are fortunate in Minnesota and the Twin Cities to have a number of down payment resources available to first time homebuyers. In particular, buyers considering the Blaine 55449 zip code can find programs in not only the State of Minnesota but throughout Anoka County too. In other areas of Minneapolis/St Paul there are similar opportunities. 

Wondering if there are funds available for you? Find out now using this tool to check for down payment funds available for your situation. Not a millennial? No problem. This tool is for all generations.

Today I would like to discuss a bit more about how Millenials Flock to Low Down Payment Programs


A recent report released by Down Payment Resource shows that 65% of first-time homebuyers purchased their homes with a down payment of 6% or less in the month of January.
The trend continued through all buyers with a mortgage, as 62% made a down payment of less than 20%, which is consistent with findings from December.
An article by DS News points to the new wave of millennial homebuyers:

“It seems that the long-awaited influx of millennial home buyers is beginning. Ellie Mae reported that mortgages to millennial borrowers for new home purchases continued their ascent in January, accounting for 84 percent of closed loans.”

Among millennials who purchased homes in January, FHA loans remained popular, making up 35% of all loans closed. Ellie Mae’s Executive Vice President of Corporate Strategy Joe Tyrrell gave some insight into why:

“It is not surprising to see Millennial borrowers leverage FHA loans because they typically offer lower down payments and lower average FICO score requirements than conventional loans. Across the board, we're continuing to see strong interest in homeownership from this younger generation.”

Bottom Line

If you are one of the many millennials who is debating a home purchase this year, let's get together to help you understand your options and set you on the path to preapproval.

 Source: KCM Teri Eckholm Blog

READY to Make YOUR Move? It IS essential to have a knowledgeable agent at your side. If you are buying, selling or relocating to Minnesota and need help from a professional REALTOR®, give me, Teri Eckholm of BOARDMAN Realty, a call at 651-336-7073 or visit my website for a FREE Home Buyer Success Guide or FREE Home Value Report. I specialize in acreage and lakeshore properties in the north and east Twin Cities metro area including Ham Lake, Lino Lakes and all communities in the Forest Lake School District! Serving Anoka, Chisago, Ramsey and Washington Counties in Minnesota.
 
Copyright 2017 terieckholm.com

Grab Bars in Bath that Even a Millennial will Love!

No one wants to think they are old, even when we started to fit the description. Age is just a number after all. Last year I was showing homes to a baby boomer that had just turned 60. We arrived at a one very well appointed and updated townhome with a walk-in bathtub and she literally cringed. “I am not THAT old.” Like it or not, our bodies sometimes need a bit more help here and there regardless of age. 

However, installing safety rails or grab bars in the bathroom can kill a potential sale.  A recently remodeled bathroom to accommodate an aging homeowner does nothing for the millennial generation or Gen-X  or Gen Y. Honestly, if a boomer doesn’t currently need a hand rail, they don’t really want to see it in the bathroom either.  

So what does a homeowner do that requires a little bit of leverage to get out of the tub if they don't want to scare off a future home buyer? Consider a luxury grab bar. I was surprised at how sleek and stylish these really are. I have assembled a few of my favorite bath ideas on Pinterest for you to check out. These definitely are an upgrade to the ugly handles in grandma’s house and most are ADA compliant too. 

READY to Make YOUR Move? If you are buying, selling or relocating to Minnesota and need help from a professional REALTOR®, give me, Teri Eckholm of BOARDMAN Realty, a call or visit my website for a FREE Home Buyer Success Guide or FREE Home Value Report. I specialize in acreage and lakeshore properties in the north and east Twin Cities metro area including Ham Lake, Lino Lakes and all communities in the Forest Lake School District! Serving Anoka, Chisago, Ramsey and Washington Counties in Minnesota.

Copyright 2017 terieckholm.com