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.
AHFA's multifamily staff accepted 45 requests for HOME Investment Partnerships and Housing Credit program funding during the March 17-19 application cycle. Click to view a list of applications submitted for 2015 program funding.
First-time homebuyers must make tough decisions to match their expectations with their budget. Here are some things to consider:
In Accordance with Addendum A (Number 7, Page 2) of the 2015 Housing Credit Qualified Allocation Plan, “If a tie still remains, priority will be given to the applicant whose application received priority in accordance with the drawing for applications that are submitted by 11 a.m. on the first day of the application cycle. The drawing will be held as soon as practical in AHFA’s boardroom that same day to determine the order of awards in the event of a tie. An impartial person will be selected to draw. The drawing will be open to the public and the results will be posted on AHFA’s website.”
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?