Tag: Low income home loans

In recent years, millennials have started taking over as the dominant home buyers in the U.S. Fierce competition in the housing market was seen in 2021, particularly due to all-time low interest rates and limited inventory. Millennials are also starting to raise their own families, which is another reason why they’re scrambling to buy homes.  However, this phenomena has caused a spike in home prices. Adding to the problem is the Fed’s decision to increase interest rates in March 2022. In comparison to buyer competition, more millennials now consider the high interest rates as the main obstacle of homeownership. Despite these unfavorable conditions, it doesn’t change the fact that millennials feel the need to own homes. This is why U Loans have introduced several low income home...