New Face of Home buyers

Posted:
DECATUR- Whether limited by student loan debt or lack of credit standing, the younger generation, or "millennials," may have more to look forward to then they think it terms of becoming new home owners.

Last year more than 8,500 people became first time home owners and the number will only rise.

The younger generation is looking at a chance to get financed for $100,000 homes for only a $1,000 out of pocket payment with various loan and grant options.

Loan officer at Town and Country bank,  Caleb Jump said, "The thousand dollars that they have to put in for their minimum contribution, a grant to cover their entire down payment,  and then just a little bit of closing costs...they could be in a $100,000.00 house for only $1,000.00 out of pocket."

The buying patterns of the younger generation seem to vary just slightly from previous generation of home owners.

Broker with Brinkoetter and Associates, Brittany Lamb said, "The first time home buyers I've found are looking for the two to three bedroom, open concept, good entertainment area. Something that they're not going get into and find -oh- I have to dump money into this thing."?

 
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