The Alabama Housing Finance Authority is announcing the end of the limited-time Alabama Home Buyer Initiative (AHBI). AHFA allocated allotted funds to more than 1,600 homebuyers, generating approximately $243 million in home sales since the initiative’s introduction in March 2014.
A recent study by Corelogic, a global property information and analytic provider says Alabama is ranked 12th in the nation for delinquent mortgages.
Two out of every three millennials planning to be homebuyers don’t know what closing costs are, says a recent survey.
But, millennials are hardly alone in this regard. Approximately 34% of all ages also know little or nothing about closing costs.
First-time homebuyers must make tough decisions to match their expectations with their budget. Here are some things to consider:
Expectations remain high that millennials (those born in the early 1980s on up to the early 2000s) will enter the housing market in greater numbers soon.
So what were some of the key features they are looking for in homes?