Tag Archives: homeownership

New First Generation Homebuyers Assistance Funds Coming Soon!

In spring 2024, Minnesota will launch two new buyer assistance programs for first-generation homebuyers, aiming to boost homeownership and wealth-building. The First Generation Homebuyers Community Down Payment Assistance Fund offers up to 10% of the home’s purchase price as a 0% interest loan, potentially helping at least 3,125 buyers. The First Generation Home Buyer Loan Program provides up to $35,000 in assistance. These programs require attending approved homebuyer education classes.

Will a Silver Tsunami Change the 2024 Housing Market?

The term “Silver Tsunami” refers to aging Americans changing their housing arrangements as they grow older. While some expect a surge in home sales from baby boomers downsizing, experts believe it won’t have a significant impact anytime soon. Many baby boomers prefer to age in place, and any housing market impact will be gradual over the next few decades.

Ways Your Home Equity Can Help You Reach Your Goals

Home equity is the difference between your home’s value and mortgage debt, offering financial opportunities as prices rise. You can use it to move to a new home, invest in property upgrades, pursue personal goals, or avoid foreclosure. Knowing your equity and wisely leveraging it can help you achieve your aspirations.

Why Mortgage Rates Could Continue to Decline

When you read about the housing market, you’ll probably come across some information about inflation or recent decisions made by the Federal Reserve (the Fed). But how do those two things impact you and your homebuying plans? Here’s what you need to know. The Federal Funds Rate Hikes Have Stalled One of the Fed’s primary goals is to lower inflation.Continue reading “Why Mortgage Rates Could Continue to Decline”

Is Homeownership the #1 American Dream? If So, Why Pursue It?

Everyone’s interpretation of the American Dream is unique and personal. But, for many people, it’s tied to a sense of success, freedom, and prosperity. These are all things that owning a home can help provide. A recent survey from Bankrate asked respondents which achievements they feel most embody the American Dream. The responses prove owningContinue reading “Is Homeownership the #1 American Dream? If So, Why Pursue It?”