When is homeownership month

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Those record-low rates also drove a refi boom, leaving heads in the mortgage industry spinning. Now, the refi boom appears to be petering out, and the purchase market is experiencing extremely low inventory levels. During the pandemic, these challenges have only become more exaggerated, with low inventory and interest rates driving double-digit growth in home prices and causing heightened bidding wars between buyers.

Also, turning to tactics that might seem out of vogue like helping a borrower write an offer or buyer letter to the home seller. There are plenty of mortgage products that can help first-time homebuyers get into a home and start building equity in a long-term investment vehicle.

While different loans make sense for different borrowers, conventional loans with private mortgage insurance are one of the more popular loan options with first-time homebuyers, helping more first-time homebuyers in the past year than any other loan products.

That means encouraging good savings habits, expanding knowledge of different types of loans, and showing the long-term payoff of owning a house. The more knowledge we can share with homebuyers, the more we can help get into homes and stay in their homes in times of hardship.

The content, links and resources in this site are presented for informational purposes only and should not be construed as legal or tax advice. One of our Financial Coaches will contact you to discuss the path to reaching your financial goals. Speak to a Coach Now First-Time Homebuyer Education For those who are considering or actively working to buy their first home, first time homebuyer education FTHB is the place to start. Foreclosure Prevention Assistance Those who already have a mortgage should still participate in National Homeownership Month and ensure their mortgage is secure.

Home Buyer Coaching For those who are ready to tackle homeownership, we have experts available to give one-on-one guidance through pre-purchase coaching. About The Author Melinda Opperman is an exceptional educator who lives and breathes the creation and implementation of innovative ways to motivate and educate community members and students about financial literacy.

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