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Millennials could keep the real estate market robust in 2020, Jumbo Loans can assist Bay Area home buyers
The millennial generation continues to shape the real estate market.
It wasn’t too long ago millennials were fighting for a spot in the market. Eventually, they became power buyers, and 2020 will be no exception. They are expected to be as active as ever in the months to come, according to data from realtor.com.
These young buyers are poised to either buy their first home or upgrade into an exciting new location like the San Francisco Bay Area market, where it’s highly desirable and fiercely competitive.
There are a number of reasons why. Millennials will become more active as they hit key life milestones, such as reaching the age of 30. Another key milestone some will reach is an age that coincides with migration into homes with more family-friendly amenities.
The market is maturing right alongside millennials, who may fuel a robust, buyer-driven market in 2020. The market may also benefit from an anticipated softening of prices in some of the largest cities in the United States, including San Francisco, and a continuation of low interest rates.
One of the tools many Bay Area home seekers need are Jumbo Loan programs. Being a banker and broker, Guarantee Mortgage represents nationwide Jumbo Loan products at great rates and a multitude of qualifying options.
These loans are more flexible than some may believe, meeting the qualifications of a wide range of buyers. A Jumbo Loan features various financing options, fixed of course, but also shorter-term fixed loans at competitive rates that can adjust after their fixed-rate period, and 15, 20, or 30-year terms.
Aspiring homebuyers can also take advantage of delayed purchasing financing, or a competitive conforming loan with a piggyback second, which may bridge the gap that could exist in their pursuit of finding their ideal home.
If you’re ready to enter the market in 2020 and ride the wave of activity driven by favorable buyer terms, please contact us today to learn more about the Jumbo Loan program and how we can work together to meet your 2020 goals.