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Need help with the downpayment? Ask Mom & Dad

April 19, 2018 By Geoffrey Disch Leave a Comment

Green Escrow | Real Estate News

Given the high cost of real estate coupled with crippling student loan payments and it’s not surprising that 8 out of 10 millennials are having difficulty coming up with a down payment for their first home. And, given these circumstances, it’s not surprising that many millennials are turning to their parents for financial help in one way or another.

Sometimes it may be an outright gift: the National Association of Realtors says that 25 percent of home buyers under the age of 38 receive financial gifts from friends or parents to help with the downpayment.

Another 20 percent move from their parents home into their first property as they are able to save faster by living at home.

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Filed Under: Real Estate Tagged With: downpayment, Millennials

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“I’ve been in this industry for over 20 years. I have seen both fantastic and just “ok” escrow officers. The Escrow Officer and her team are typically the last stop for a borrower during the purchase or refinance transaction. You want that person and team to be personable, professional and helpful to your client. Kathy and her team at Green Escrow has surpassed my expectations. The team has gone the extra mile to ensure my file closed on time and without incident. I’m looking forward to continued success with Green Escrow.””
by Adina Erridge, Bay Equities Home Loans

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