Michael Sema sits with One America News Network's Liz Wheeler on the Tipping Point to discuss why home ownership rates are at its' lowest in decades.
Some of the topics he touched upon are
He talks about how millennials aren't making the same mistake the previous generations did of trusting our Nation's broken banking system to explain the home buying process.
We are still standing in the '08 economic collapse ruins. Even though there have been updates to the banking regulations, it hasn't fixed or addressed the issue of extrinsic commission compensation, which has been scientifically proven to harm clients.
Below are Michael's top 7 home buying tips to protect, prepare and determine whether now is the right time to buy a home:
Top 7 Home Buying Tips
1. Be wary of advice from commissioned loan officers - question if they have your best interest in mind
2. Interview 5 lenders and research reviews
3. Be realistic about what you should buy, not can buy
4. Purchase if you have confidence in your job security
5. Budget for the future (Weddings, kids, life)
6. Have a min. of 3-6 months savings
7. Compare Renting vs. Buying benefits with our calculator
If you have questions, feel free to speak with one of our salaried Home Loan Advisors, who can help guide you through the entire home loan process.