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    Millennials are finally entering the home buying market—and for good reason. Mortgage rates are at historical lows, construction is starting to tick up, and incomes are growing. It’s the perfect storm for a green, first time home buyer.

    But just because the market’s primed for jumping in doesn’t mean home buying is a walk in the park. For Millennials buying homes, there’s still work to do—and knowing ahead of time what that work entails is vital to a smooth, affordable, and efficient home buying process.

    Are you considering joining the millions of Millennials buying homes in 2018? Then heed this guide to make sure your journey as a first time home buyer is an enjoyable one.

    Prepping early is key.

    Go ahead and pull together your latest pay stubs, tax returns, W-2s, bank account statements, and any other recent paperwork pertaining to your accounts or assets. Your mortgage lender will need these to approve your loan, and having them organized early can help speed up the process.

    Preapproval might make the difference.

    Today’s market is a competitive one, and getting preapproved can give you a leg up over other buyers. Or, better yet, get a full approval with Embrace’s Approved to Move™ program. With a full approval in-hand before you ever start shopping, you’ll be able to looking for homes in the right price range and give yourself a competitive edge when you’re ready to make an offer.

    Lock in your rate.

    Mortgage rates are always in flux, so if you want to protect yourself from future increases while you search for the perfect property, go ahead and lock in that rate with your lender.

    It’s all about timing.

    With lots of Millennials just like you searching for homes, you’ll need to be ready to pull the trigger fast when you see a home you like. If your real estate agent says a home that meets your needs was just listed, make it a point to tour the property ASAP. If you like it? Put in a bid that day. It might not be there tomorrow!

    Consider assistance programs.

    Most counties, cities, and states offer a variety of housing assistance programs. If you’re a low- or moderate-income earner, these may be able to help you with your down payment, closing costs, or other home buying-related costs. Be sure to check with your municipality for options.

    Are you considering buying a home in 2018? Contact one of our loan officers now to get preapproved, and start your home search today.


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