How Millennials Can Effectively Overcome Home Buying Obstacles ...


Home buying obstacles are real for everyone, however the millennial generation will have to jump hurdles. Since the housing crisis of 2008, it's become harder to purchase a home. Lenders require a down payment, and banks scrutinize an applicant’s financial history. For millennials, this poses a unique challenge, especially since they're graduating college into one of the toughest job markets and living paycheck to paycheck. But this doesn't mean millennials should close the door on homeownership. Here are seven ways this generation can overcome home buying obstacles.

1. Don't Pay Late

Getting approved for a mortgage loan is all about the credit score. Millennials can improve their credit by paying bills on time. Depending on the mortgage loan, applicants are rejected if they have more then two 30-day late payments in a 24 month period. So whether you have student debt, an auto loan or credit card payments, never pay late to avoid home buying obstacles.

Use Credit Cards Responsibly
Explore more ...