This generation does things a little differently from our predecessors. And when it comes to buying a home, we millennials need different advice, too.
Things can be intimidating when looking to buy your first house, but knowing what’s going on in the economic world around you can help soothe some of those fears—
or at least help you prepare to face those fears head-on.
First, understand that the days of steadily low interest rates might be coming to an end. The Federal Reserve’s target for short-term rates (which plays a heavy hand in the mortgage rate homeowners get) has been locked at zero since 2008 and have been ticking upwards recently.
The conclusion….”a good place to start is with a mortgage broker. Even if you aren’t ready to buy tomorrow, a good broker or lender will be happy to help you navigate the path to home ownership.”
And if you need help with your finances in general, look for a personal financial adviser who can offer you tailored advice to reach your goals.
“Remember: When looking for guidance, be as picky about your guides as you are about your organic mayo. Read reviews. Visit the Financial Industry Regulatory Authority website to see if the adviser had any customer complaints, and ask for a list of referrals before you sign up with an adviser.”
