With less homes for sale to look at, as a St George first time home buyer, you might feel challenged. Yet there are some options. As first time home buyers (millennials), nationally you used to account for 40% of the buying market, but so far for 2019, you've only accounted for 31% of the home sales nationally. Student debt has tripled over the past decade. Starter homes are harder and harder to come by. Homebuilders have focused on more expensive homes giving a shortage. Many affordable condos are not FHA-certified.

St George First Time Home Buyers need down payment assistance

Finding enough homes for sale in St George Utah has not gotten any easier. With over half the homes being more retirement or second-home based, builders are even less encouraged to supply homes for sale in the lower income brackets with greater incentives developing in the higher priced home brackets.

To get a mortgage you might run into credit score requirements being tighter than historic norms. One way to do this? NAR (National Association of Realtors) research shows about a third of first time home buyers received down payment assistance from family members. And the average net worth of those aged 75 and over is at $264,800. So, be nice to grandpa and grandma- they just might give you that boost the next generation needs to become homeowners.

With little to no down payment, FHA is not the only way for you to go either. There are the rural housing loans if you can tolerate buying in rural areas. Also, be sure to check out Utah Housing Corporation (UHC) where on their site they present down payment assistance and options to help provide more affordable housing for low to moderate income earners.

And as always, please consider using Brian Habel with iPro Realty as your Realtor.
And if you need a great mortgage lender, able to help you with these lending options, then call Chantry/Shaylee at Guild Morrtgage: 435-674-1090