Living in Contra Costa County: Home Loans for Millennial's – Challenges and Opportunities

Home Loans for Millennial's – Challenges and Opportunities

Home Loans for Millennial's – Challenges and Opportunities

The California Association of Realtors (CAR) puts out some great infographics. This one looks at Millennials and their home buying plans. It also looks at their perceptions on lending. Let's take a look:

Home Loans for Millennials


What I find interesting is a full 25% of them do not know how to get started. That is a large hunk of business to be tapped into for us in the business, but I see something deeper; there are a lot of misconception or bad planning by some of the others.

A full 64% of them see having a down payment as an obstacle. I suspect many of them have not heard of or researched the Zero Down Payment Options or the 5% rebate options that would cover the down payment. Other objections can often be over come with a little good planning or talking to the right loan officer.

There are two things that are antidotal that I also think are going on. Millennial's tend to have a streak of conservatism when it comes to finances; most would prefer a larger down payment to get a better loan. I think we all would and if you can do it I think that is wise. But I think at this time any savings you might get by putting things off and saving up a larger down payment will be wiped out by inflation in the housing market.

The other thing going on is lack of Education. The Millennial's go to the internet for information; they look things up. Sadly I suspect that many of them are getting their information for larger and more well known lenders; rather than small and more aggressive lenders with more flexibility and programs.

The best lending solutions are often with the smaller brokers that might not end up at the top of a search.

As a consumer you need to know to do your research, talk to a number of sources and dig deep.

Home Point Real Estate works with many quality lenders and if you need help we can point you in the right direction.

Home Point Real Estate is located in Brentwood Ca and provides service to the East Contra Costa County Communities of Brentwood, Oakley, Discovery Bay, Antioch, Pittsburg and beyond. Give us call regarding Buying a Home, Selling a Home, or Real Estate Investing. Find out more about Home Point Real Estate.    


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By Gene Riemenschneider

Broker and Owner

Home Point Real Estate  - 925-260-4321 - Turning Houses into Homes

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Gene Riemenschneider
Home Point Real Estate
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Comment balloon 0 commentsGene Riemenschneider • September 08 2015 10:27AM