{"id":1303,"date":"2020-12-01T15:23:02","date_gmt":"2020-12-01T15:23:02","guid":{"rendered":"https:\/\/phphouses.com\/blog\/?p=1303"},"modified":"2020-12-01T15:23:02","modified_gmt":"2020-12-01T15:23:02","slug":"knowledge-power-path-homeownership","status":"publish","type":"post","link":"https:\/\/phphouses.com\/blog\/knowledge-power-path-homeownership\/","title":{"rendered":"Knowledge Is Power on the Path to Homeownership"},"content":{"rendered":"<div id=\"attachment_1304\" style=\"width: 760px\" class=\"wp-caption aligncenter\"><img aria-describedby=\"caption-attachment-1304\" decoding=\"async\" loading=\"lazy\" class=\"size-full wp-image-1304\" src=\"https:\/\/phphouses.com\/blog\/wp-content\/uploads\/2020\/12\/20201201-KCM-Share.jpg\" alt=\"\" width=\"750\" height=\"410\" srcset=\"https:\/\/phphouses.com\/blog\/wp-content\/uploads\/2020\/12\/20201201-KCM-Share.jpg 750w, https:\/\/phphouses.com\/blog\/wp-content\/uploads\/2020\/12\/20201201-KCM-Share-300x164.jpg 300w\" sizes=\"(max-width: 750px) 100vw, 750px\" \/><p id=\"caption-attachment-1304\" class=\"wp-caption-text\">Knowledge Is Power on the Path to Homeownership<\/p><\/div>\n<p>Homeownership is on the goal list for many young adults, but sometimes it\u2019s hard to know exactly how to get there. From understanding the homebuying\u00a0<a title=\"process\" href=\"https:\/\/www.mykcm.com\/2020\/02\/28\/10-steps-to-buying-a-home-infographic-2\/\">process<\/a>\u00a0to pre-approval and down payment assistance options, uncertainty along the way can ultimately hold some buyers back.<\/p>\n<p>Today, there are over 75 million Millennials and 67 million Gen Z\u2019ers in the U.S., making up a significant number of both current and soon-to-be homebuyers. According to a recent\u00a0<em>Fannie Mae<\/em>\u00a0<a title=\"survey\" href=\"https:\/\/fm.fanniemae.com\/affordable\/insights\/future-homebuyers\/index.html\" target=\"_blank\" rel=\"noopener noreferrer\">survey<\/a>\u00a0of more than 2,000 of these individuals:<\/p>\n<blockquote><p><strong><em>\u201c88% said they are confident they will achieve homeownership someday.\u201d<\/em><\/strong><\/p><\/blockquote>\n<p>In addition, the survey also reveals that for younger generations, the motivation to own a home may be more emotional than financial compared to previous generations:<\/p>\n<ul>\n<li>&lt;50% say they want to use their home as an asset<\/li>\n<li>78% believe it\u2019s the best way to live the way they want, without restrictions<\/li>\n<li>80% believe homeownership is the best way to make it on their own<\/li>\n<\/ul>\n<p>Whether homeownership goals come from the heart or are driven by financial aspirations (or maybe both), the obstacles standing in the way don\u2019t have to bring these dreams to a screeching halt. The same survey also reveals two key roadblocks for potential buyers. Thankfully, they\u2019re both easily overcome with the power of knowledge and trusted advisors leading the way. Here\u2019s a look at these two challenges potential homebuyers face today:<\/p>\n<h4><strong>1. 73% of future homebuyers are unaware of low-down-payment mortgage options<\/strong><\/h4>\n<p>For those who want to purchase a home, low-down-payment options are instrumental to affording one sooner rather than later, especially given the amount of debt many younger adults have accumulated.\u00a0<em>Fannie Mae<\/em>\u00a0also notes:<\/p>\n<blockquote><p><em>\u201cAmong the challenges they face is an unprecedented amount of debt, along with a lack of understanding of the mortgage process and their own purchasing power. Debt, in particular, creates many obstacles such as a limited ability to save and the fear of taking on more debt.\u201d<\/em><\/p><\/blockquote>\n<p>Today, there are more than\u00a0<strong>2,340 down payment assistance\u00a0<\/strong><a title=\"programs\" href=\"https:\/\/www.mykcm.com\/2020\/10\/27\/how-down-payment-assistance-opens-the-door-to-homeownership\/\"><strong>programs<\/strong><\/a>\u00a0available nationwide to help relieve this pressure. Understanding what\u2019s out there and the options available may help many buyers become homeowners faster than they thought possible. In a year like this, with record-low mortgage\u00a0<a title=\"rates\" href=\"https:\/\/www.mykcm.com\/2020\/11\/19\/will-mortgage-rates-remain-low-next-year\/\">rates<\/a>\u00a0making their mark in the history books, being able to take advantage of the opportunity buyers have right now is essential to long-term\u00a0<a title=\"affordability\" href=\"https:\/\/www.mykcm.com\/2020\/11\/24\/is-buying-a-home-today-a-good-financial-move\/\">affordability<\/a>.<\/p>\n<h4><strong>2. 64% of buyers expect lenders and other real estate professionals to educate them about the mortgage process<\/strong><\/h4>\n<p>While many people love to do a quick search online to find instant answers to their questions, it isn\u2019t the only way younger generations want to consume information or build their knowledge base. As the survey mentions, having trusted professionals help them learn what it takes to achieve their dreams is definitely on their wish list too.<\/p>\n<h3><strong>Bottom Line<\/strong><\/h3>\n<p>If you\u2019re aiming for homeownership someday, it may be in closer reach than you think. Let\u2019s connect so you can learn about the process and get the guidance you need to make it happen.<\/p>\n<p>&nbsp;<\/p>\n<p><strong>Contact us:<\/strong><br \/>\nPHP Houses<br \/>\n142 W Lakeview Ave<br \/>\nUnit 1030<br \/>\nLake Mary, FL 32746<br \/>\nPh:\u00a0<span id=\"gc-number-1\" class=\"gc-cs-link\" title=\"Call with Google Voice\">(407) 519-0719<\/span><br \/>\nFax:\u00a0<span id=\"gc-number-2\" class=\"gc-cs-link\" title=\"Call with Google Voice\">(407) 205-1951<\/span><br \/>\nemail:\u00a0info@phphouses.com<\/p>\n<p><strong>Let\u2019s Connect:<\/strong><br \/>\n<a href=\"https:\/\/www.facebook.com\/WeBuyHousesCentralFlorida\/\">Facebook<\/a><br \/>\n<a href=\"https:\/\/www.linkedin.com\/in\/walter-diloreto-25403710\/\">Linkedin<\/a><br \/>\n<a href=\"https:\/\/twitter.com\/WalterDiLoreto\">Twitter<\/a><br \/>\n<a href=\"https:\/\/www.instagram.com\/wdiloreto\/\">Instagram<\/a><\/p>\n<h6><em>THE INFORMATION PRESENTED IN THIS ARTICLE IS FOR EDUCATIONAL PURPOSES ONLY AND SHOULD NOT BE CONSIDERED LEGAL, FINANCIAL, OR AS ANY OTHER TYPE OF ADVICE.<\/em><\/h6>\n","protected":false},"excerpt":{"rendered":"<p>Homeownership is on the goal list for many young adults, but sometimes it\u2019s hard to know exactly how to get there. <a class=\"continue\" href=\"https:\/\/phphouses.com\/blog\/knowledge-power-path-homeownership\/\">Finish Reading<span> Knowledge Is Power on the Path to Homeownership<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[36],"tags":[38,15,10,18,27,91,86,52,32,25,49,42,40,291,63,20,12,48,13,47,19,17],"_links":{"self":[{"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/posts\/1303"}],"collection":[{"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/comments?post=1303"}],"version-history":[{"count":1,"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/posts\/1303\/revisions"}],"predecessor-version":[{"id":1305,"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/posts\/1303\/revisions\/1305"}],"wp:attachment":[{"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/media?parent=1303"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/categories?post=1303"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/tags?post=1303"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}