First time home buyers

Seeking to reverse a decades-long disparity in homeownership, the Urban League of Greater Madison has launched a $5 million initiative to help more Black Madisonians own their own homes.

The American Dream Down Payment Act would let states establish and manage accounts, which would be similar in structure to 529 college savings plans.

With over 4 million millennials entering prime home buying age each year through 2023, purchase activity will be driven much higher, according to Ellie Mae.

Housing prices continued to grow in June, maintaining a streak in monthly increases that began in February 2012. But the trend could be reversed in 2021 with the resurgent effects of the coronavirus, according to CoreLogic.

The U.S. homeownership rate, led by young buyers, jumped to the highest since 2008, signaling that the housing boom underway before the pandemic has only accelerated.

Almost six in 10 completely agreed that company-provided technology met or exceeded their expectations.

The new normal created by the events so far in 2020 could make this the best year ever for lenders.

Down payment assistance programs remain an important tool for increasing minority homeownership, but especially more so because of the pandemic.

But the coronavirus put a hold on the market in April and remains an overhanging cloud for the future.

With the average borrower needing over two decades to save a 20% down payment for the median-priced home, private-mortgage-insured loans experienced major growth in 2019.