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Millennials are anxious and confused about the home-buying process, according to a loanDepot study. While being ready to start a family and not wanting to rent are the top homeownership drivers for adults age 20-36, only 18% of those surveyed think they can afford to buy a home.

Lenders can serve a vital advisory role to millennials by dispelling myths about the home buying and mortgage processes and educating them about options to manage upfront and ongoing costs.

Here's a look at the five essential lessons lenders can teach millennials to get them ready for homeownership.


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