More First Time Home Buyers Struggle to Save Downpayment

More first time buyers in Georgia and around the country are struggling to purchase homes as inventory remains tight and home prices, as well as mortgage interest rates, continue to rise. The percentage of first time buyers in the market declined to 33 percent this year, the third straight year of declines in a row. Student loan debt and high rental prices are increasingly making it more difficult for first time buyers to save for a down payment. In addition, the moderately priced segment of the home market, where most first time buyers begin their search for a new home, is the market segment with the most severe shortages of homes.

Buying or refinancing a home in metro Atlanta or anywhere else in Georgia? Contact Peachtree Mortgage Services, Inc. at 770.481.0052.


* Specific loan program availability and requirements may vary. Please get in touch with your mortgage advisor for more information.