Market trends, home affordability and the strength of the economy have paved a way for millennials to become homeowners. The wounds from the recession have begun to heal and confidence in the market is overtaking the fear that previously kept millennials locked into the idea of renting. For too long we asked the questions “will they [millennials], like their parents, settle down as they get older? Will they have children, buy houses and feather their nests?” Quite simply, the answer is simply YES.
Why? Well, according to Bloomberg “it’s not their nagging parents. It’s rents. They’ve risen so much that buying is making more sense.”
A recent survey by Zillow found that “54% of young adult renters plan to buy a house within the next two years—with 65% saying that owning a home is necessary for achieving ‘the good life.’ The last few months have shown a surge of first time homebuyers, and a healthier housing market. To create a more attractive loan experience for this younger generation, Axia has recently added The Axia App. Communication, calculations, and scanning and sending docs can all be done on the go!
On top of this innovative mobile technology, Axia has great loan programs for any type of buyer and all the resources to ensure our clients are well-prepared. Often we find that coming up with a down payment can be an issue for millennial homebuyers. Axia has low down payment options like FHA loans, and 3% down conventional loan programs through Fannie Mae and Freddie Mac.
Axia works hard to create an easy-to-understand, non-stressful loan experience so that more and more people can experience the American Dream.