Millennials Want to Buy but Can’t (Save)

A study conducted by Apartment List, a rental listing company, referenced in this Wall Street Journal article illuminates a very real tension at the heart of today’s housing market. The vast majority of millennials say they eventually plan to buy a home but the primary obstacle is they can’t afford it.

The reasons young people are falling behind include student loan debt, rising rents and the slow starts many got to their careers during the recession. These reasons combined with the rapidly increasing cost to buy in many housing markets across the country is placing home ownership out of reach for this generation.

The real issue up for discussion here is the choice/ability to save. Some of the statistics in the article indicate that only a small percentage of Millennials are able to save enough for a 10% down payment in the next 3 years.

Take a quick look at the article and let me know what you think. Is it really too hard for this generation to save enough money to buy a house or are they choosing to “experience” life in lieu of making the sacrifices necessary to save?

WSJ-Millennials Want to Buy Homes but Aren’t Saving for Down Payments

How to Buy a New Home When You Don’t Have a Lot of Cash

I came across this New York Times article this morning in my Apple News feed. It piqued my interest as I spend much of my day talking to potential home buyers about mortgage options, down payments and interest rates. One of the greatest variables in the home buying process can be the amount of money available to use as a down payment.

The article does a great job summarizing some basic questions about down payment options and an even better job linking to various other articles that provide even more information for those seeking it. The main takeaways here are that a 20% down payment is not necessary when buying a new home and there are options available for putting as little as 3% down. The writer also highlights the fact that saving enough cash to put 20% down can take nearly 20 years and put a strain on your finances.

The best thing you can do when considering mortgage options is consult with an expert and determine which options are best for you, your family and your financial situation. This type of consultation is not something you can find on a Google search or with a spaceship mortgage. Let me know and I can help you make the right decision with your next home purchase.

How to Buy a New Home When You Don’t Have a Lot of Cash

Mill Creek Garden Club Tour – June 24th

Garden Tour Information

  • Date:  Saturday, June 24, 2017.
  • Time:  11:00 am to 4:00 pm.
  • Tickets:  $15 for all ages.
  • Available mid-May at Li’l Sprout Nursery, 17414 Bothell-Everett Highway, Mill Creek. Proceeds benefit Mill Creek Garden Club’s Giving through Gardening programs.
  • Tour the six beautiful gardens at your own pace!

What exactly are mortgage points?

Going through the process to obtain a mortgage can be very overwhelming. Often, the most overwhelming aspect of a mortgage is the confusion surrounding certain terms and ideas. An idea to become especially familiar with is the notion of a “mortgage point”. The following article defines a mortgage point and highlights how to effectively use your knowledge of them in your hunt for the right mortgage loan.

Getting Familiar with Mortgage Points

Veterans Choice Program Extension

As most Americans these days, I have a small window opportunity every day to sit down and actually read about the news.  With networks prioritizing news of tensions building up abroad, it was no surprise that the recent bill president Trump just signed to improve veterans health care fell below the news radar.  The bill is meant to improve the program by removing the August 7th, 2017 expiration date.  In a nutshell, the program allows veterans to utilize private health care if for certain reasons, the closest VA medical facility is not able to provide treatment within 30 days, the facility is more than 40 miles away from the member’s residence or travel to the facility for the member is too arduous.  If not for the bill, this crucial program for our vets in need would have disappeared.  Being in the Pacific Northwest, the geographical location of most veterans in need of treatment fall under at least two of the situations that qualify for this program.  As a veteran myself, it is my duty to spread the word to as many people as I can to get awareness of this.  If you are a veteran or know of one who may qualify for this, click here to get more information.