Millennials finally embracing American Dream of home ownership

May 5, 2017, 15:04 PM by User Not Found
"Nobody likes the mortgage. They want to buy the house," said Mat Ishbia, CEO of United Wholesale Mortgage in Troy. But Ishbia said many millennials could benefit from researching their mortgage options first before shopping for a home. He noted that the Fannie Mae HomeReady program only requires 3% down for creditworthy low- to moderate-income borrowers. The Freddie Mac Home Possible programs can require 3% or 5% down, depending on the program, for low- to moderate-income buyers or buyers in high-cost or underserved communities.
"Nobody likes the mortgage. They want to buy the house," said Mat Ishbia, CEO of United Wholesale Mortgage in Troy.

But Ishbia said many millennials could benefit from researching their mortgage options first before shopping for a home.

He noted that the Fannie Mae HomeReady program only requires 3% down for creditworthy low- to moderate-income borrowers. The Freddie Mac Home Possible programs can require 3% or 5% down, depending on the program, for low- to moderate-income buyers or buyers in high-cost or underserved communities.

Click here to read the full article via Detroit Free Press.
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