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New Home Buyers are Taking Charge of the Current Market

Blog posted On April 13, 2021

Last year, the number of first-time home buyers hit its lowest level in over 30 years. The coronavirus pandemic likely played a large role in the decline, but outside of that, the market had other challenges for first-time buyers as well. Low inventory, high demand, and rising mortgage rates are all making it harder for new buyers to break into the homeowner’s club. Consequently, first-time buyers are having to pave more creative paths to homeownership – paths that may differ from their parents and grandparents.

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More First-Time Home Buyers Choose Conventional Over FHA Loans

Blog posted On March 30, 2021

The FHA Loan has been a cost-effective staple for first-time home buyers since its creation in the 1930s. With low down payments and lenient credit requirements, the FHA Loan has helped millions of home buyers over the years. However, recent data by the National Association of REALTORS® (NAR) has shown a sharp decrease in the number of buyers who are financing their first homes with the FHA Loan. Over the past 1-2 years, more first-time buyers have been choosing the conventional financing route – but why? When might a conventional loan be a better option for first-time buyers? 

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