Millennials today can face an uphill battle if looking to put down 20 percent on a home. According to a recent study, saving 20 percent can take 20 years for first-time home buyers. However, there are other options that millennials (and others) can take advantage of – all laid out in this article.
Peter Warden | The Mortgage Reports
Millennial first-time homebuyers face a long slog if they try to come up with the “standard” 20 percent down payment for a home. A December 2018 study from Apartment List reckons that it would take two decades for the average renter to save that much.
But luckily, they don’t need 20 percent. Or even 5 percent.
To read the full post, click here: Millennial first-time homebuyers would need 20 years to save 20 percent down