Charis Loans, Inc.

Q: What is the #1 reason why Millennials continue to rent? A: Lack of a down payment Solution: The State of California offers a loan program that covers a buyer's down payment and some closing costs. These loans have safeguards in place as there are income qualifiers; they are a great way to get into a home and stop renting. PM me for more details. http://www.mortgagenewsdaily.com/12032018_millennial_homeow

The good news is that interest rates are still at historical lows. But, they will go up again when the Feds raise them in December. It will affect affordability but, thankfully, home prices are coming down to adjust for this.

As homes are sitting on the market longer, a window has opened for those looking for a deal. New home buyers have risen steadily and now make up a third of the market. PM me if you want to know what programs they're using to make home ownership affordable. This article gives some insight to what's happening in real estate right now: http://www.mortgagenewsdaily.com/10192018_existing_home_sal

The Mortgage Bankers Association is forecasting that purchases will increase in 2019 due to the leveling off of home prices after the December rate hike and 3 more subsequent hikes during the course of the year. You may wonder how this is possible. Well, due to low unemployment, the pause in house price growth may allow for income growth to catch up, and many people with jobs could be able to afford to buy. The reform of Dodd-Frank has also opened up opportunities to purchase for millennials and self-employed borrowers, among others. PM me to find out more. Here's a cool little article which shows how much one has to make to be able to buy an average home in different markets throughout the country: https://www.cnbc.com//what-you-need-to-make-to-buy-a-home-