Times Square after Ian. Every business on the gulf was wiped out.“Mobile homes, boats, washing machines, parts of roofs and walls and dining room sets were scattered through miles of mangrove
Time to Buy
Dated: March 21 2019
Views: 231
Do 46 Million Millennials Know They Are Mortgage Ready?
Many have written about the millennial generation and whether or not they, as a whole, believe in homeownership as part of attaining the American Dream.
Millennials have taken longer to obtain traditional milestones than the generations before them, such as getting married, having kids, and buying a home. However, that does not mean that they do not still aspire to achieve those things.
History shows that people tend to buy their first home around age 30. Nearly 5 million millennials will turn 30 in the next two years. This will continue to fuel demand for housing.
This is also one of the many reasons why the millennial homeownership rate has continued to grow over the past few years. 48.4% of Americans between the ages of 30-34 now own a home.
There are over 46 million millennials (33% of the generation) who are considered “Mortgage Ready”, meaning they meet the qualifications to be approved for a mortgage today!
- a FICO Score ≥ 620
- a Back-End Debt to Income Ratio ≤ 25%
- no Foreclosures or Bankruptcies in the last 7 years
- no severe delinquencies in 1 year
Rob Chrane, CEO of Down Payment Resource, commented on the findings of the report,
“We now know there are millions of buyers with the income & credit necessary to qualify to buy a home. The biggest question is:
Do they know it? …Unfortunately, many renters don’t investigate homeownership simply because they don’t believe it’s an option.”
The good news is that more and more millennials are realizing that they can afford a home now. Even so, more can be done to increase awareness of low down payment programs to attract even more of this generation.
New data from realtor.com shows that in December, millennials accounted for 42% of all new home loans originated in the month. This is more than any other generation.
Bottom Line
If you are one of the many millennials who may be “Mortgage Ready” but are unsure what your next steps should be, let's get together to help guide you on your path to homeownership!
Bob Bunting
Bob has been a Realtor with Tri Power for over 20 years. Recently, their daughter Angie joined the team as a realtor assistant. Bob has witnessed first-hand the tremendous change and growth that has t....
Latest Blog Posts
For the past few weeks, volunteers have been busy painting street signs to help people navigate on the island. Very few of the “Approved” signs survived the storm, so this was a
Although Beach Elementary is still standing, the damage to the buildings and the classrooms appears to be extensive. The school, for many years, was the center for community gatherings.
In the 1920s, San Carlos Island was part of the mainland. To get to the Beach from town, you had to take McGregor to John Morris Road in Iona. When you reached Bunche Beach, you took a
All information regarding a property for sale, rental or financing, school information and public tax records is from sources deemed reliable; PROVIDED, HOWEVER, that representations and warranties are not made about the accuracy thereof, and such information is subject to errors, omissions, updates, modifications, changes of price, rent rates, commissions, prior sales, leases or financing, changes in school boundaries, or withdrawal without notice. All information displayed on this Website should
© 2026 Florida Gulf Coast MLS (FGCMLS) Information deemed reliable, but not guaranteed. The IDX data relating to real estate for sale on this web site comes in part from the Florida Gulf Coast Multiple Listing Service. The information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed.
This data is up-to-date as of September 23, 2026 9:25 PM UTC Some properties that appear for sale on this website may subsequently have sold and may no longer be available. For the most current information, contact CENTURY 21 TriPower Realty, Inc..
The information provided is for consumers' personal, non-commercial use and may not be used for any other purpose. The data relating to real estate for sale on this website comes in part from the Broker Reciprocity Program (BR Program) of M.L.S. of
