Mortgages For Millennials

Look, as a millennial, just the concept of owning a home seems like a big joke. Growing up, when I heard my parents, or any adults really, throw around big words like financing, FHA loans, or reverse mortgage my brain automatically turned off. I think some kids suck that stuff up and try to learn but I was not one of them. I was lucky enough to grow up in a place where I never had to think twice about where I was going to live or if my parents could keep their home. It just was not one of my priorities to learn the intricacies of how one goes about buying and owning a home. Here in lies the problem and is the reason I am going to start this blog.

Firstly, I think my situation is the same as the vast majority of millennial’s. We are not stupid and certainly have the capacity to learn new things, but we were never taught, and that is incredibly important, what we have to do in order to buy a home. The only thing I could tell you before working for a mortgage lender and hosted an hour long radio show about mortgages was that you needed a lot of money for a down payment and had to borrow the rest of the money from a bank or something. So along that thought process it would take years before I could even afford the cheapest of homes.

Secondly, mortgages seem to be written to sound as vague and confusing as possible. It’s like a legal document, they keep things vague and only understandable to lawyers who have gone through law school and extensive training. (And even then they get it wrong) And while this will not get into the technical aspects of every part of your loan it will give you an understanding of the steps you need to take, and who to speak with.

Lastly, what I have come to understand about owning a home is it is the real path to more wealth. What I mean by that is you can use your home in so many different ways to improve your quality of life. Not only can it be a safe place for you and your current or future family, you can use it for so many different things, most of which we will get into later.

I am calling this blog “Mortgages for Millienals”, but really it’s going to be a “Mortgages for Dummies”, I just want to take it step by step in a way I know my fellow millennial’s will understand. I’m glad you’ve made it this far with me and I hope if you are on the fence about buying a home, or just have simple questions of where to even start, I will be able to answer them all and give you a better understanding on your ability to buy a home. I’ll be back soon and we will start with the very first, the baby steps if you will, things you need to do to get onto the path to owning your own home.


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