qtq50 aLPRQY

Millennials want to buy a house soon according to Bank of America

Millennials want to become homeowners in the next few years, but several are buying into certain house-purchasing myths, according to Bank of America.

Approximately 38% of first-time homebuyers have plans to buy their first house in the next two years, and 36% wish to buy a house within the next 3 to 5, according to Bank of America’s Homebuyer Insights Report. Still, a knowledge gap exists among renters.

Almost half of millennial renters believe a 20% down payment is required to buy a home and almost 43% think they have to pay private mortgage insurance if they don’t put twenty percent down. Almost 24% think they need to have a perfect credit score to successfully get a mortgage.

Follow us on Instagram and Twitter!

If you want to know more about this subject, do not hesitate to fill in the following application form. If you have mortgage questions, you can also call us at +1 (800) 638-6035 or email us at info@mortgij.com.We’ll get back to you in 24 hours or less.

    You may also like

    Leave a comment