The door for first-time homebuyers has been shut for years. But, in 2015, that door looks set to crack open.
Rents are rising faster than incomes, which is causing many millennials to enter the market and buy. In fact, Zillow predicts millennials will be the biggest homebuyers in 2015, which will loosen the lock on the housing market.
Loosening lending standards and mortgage rates below 5 percent will make homes more affordable for first-time buyers.
Despite favorable market conditions, buying a home is the largest investment most people will ever make.
It’s a time of excitement and risk. Smart investments could reap lifelong rewards, while one small misstep could cost thousands of dollars.
To help make your clients’ first home purchase a success we’ve put together a go-to checklist outlining 15 money-saving tips for first-time homebuyers. It covers contingency clauses, closing-cost negotiation, mortgage types and more. Share this guide and save your clients hundreds, maybe thousands of dollars when buying a home.