Fannie Mae launches major first time homebuyer assistance program
Article from HousingWire:

Having already begun buying mortgage loans that allow borrowers to put 3% down, Fannie Mae is launching a new program aimed at attracting more first-time homebuyers — by taking over that responsibilty as well.

Fannie Mae announced Tuesday the HomePath Ready Buyer program, under which qualifying first-time homebuyers can receive up to 3% of the purchase price of the subject property in closing cost assistance toward the purchase of a HomePath property.

On a $ 150,000 home, this could result in up to $ 4,500 in savings for the buyer, Fannie said. In addition, Fannie Mae will reimburse the $ 75 cost of the homebuyer education course at the time of closing.

“Purchasing your first home can be an overwhelming process,” said Jay Ryan, Fannie Mae’s vice president of REO sales. “We developed the HomePath Ready Buyer program to provide first-time homebuyers with the knowledge to make informed decisions as they navigate the complexities of the home buying process. Closing cost assistance provides a cushion many first-time buyers need to more confidently face the financial responsibilities of homeownership.”

To receive the 3% rebate, homebuyers must complet…………………continues on HousingWire
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Why Millennials Are Better At Home Buying Than You
Article from Forbes:

Because of our sheer numbers, we millennials tip pretty much any scale we touch, whether it’s the housing market or the wine industry. (We’re drinking more of it, but we prefer the cheap stuff.)

That’s why Gen Y is either thanked or scolded for most major market moves. A year ago, millennials were “dragging down homeownership”; this year we’ll “make it easier for you to buy a house.” Either way, as the older tier of the generation rounds into their early 30s, millennial homeowners are turning out more than ever before.

And we’re a really weird brand of home buyer.

Millennial homeowners are saddled with obstacles no previous generation has had to face, like an average student loan debt per borrower that’s both monstrous and unprecedented. They’re also less romantic about the whole process than their predecessors — buying before marriage, ownin…………………continues on Forbes
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