More Singles are Buying Homes

The biggest takeaway from our our research on single buyers is their need for more information. “Many first-time buyers are unaware of no money down options, grants, and government purchase programs that can keep costs and rates low enough for a single income,” says Mike Anderson, CMO of Intercap Lending.

Mike added, “Realtors and lenders who take the time to teach and advise their clients are in a better position to help more home buyers and capture more referrals. Our industry is so focused on the transaction right now that we forget the need for good advice and developing life-long relationships with our buyers.”

Casey Miller who bought a house in 2013 (interviewed by Beautiful Homes) said, “I think money is such a taboo topic that there’s so much you don’t learn.” Sentiments like this show how hesitant some can be in seeking out professional advice before making big financial decisions like buying a home. Realtors and lenders who advertise advisory services before the transaction are finding more opportunities to help people make smarter financial decisions. “Our favorite clients are the people who come to us two years out and want us to help them save, help them prepare,” said Denielle Lurie, founder of a realty team at Compass as published in the Beautiful Homes study.

Intercap Lending loan officers offer a Pathway to Qualification program to help first-time buyers get prepared to buy, providing a personalized snapshot of the buyer’s FICO score, down payment options, and debt-to-income goals needed to buy their first home. Intercap can even provide a detailed rent vs buy report based on the client’s current rent and cost of ownership.