Buying Your First House: Top Mortgage Companies For Millennials

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These online mortgage companies give you more options and better rates

Millennials are waiting longer to buy homes. This is because buying a home today is harder than it was for our parents' generation.

For example, we’re likely to pay 39% more than baby boomers who bought their first home in the 1970’s or 1980’s. The value of homes has also increased nationwide by 73% since the 1960’s, when adjusted for inflation.

Housing is also less affordable for millennials compared with the overall population due to the burden of student debt that most of us will carry long into our 30’s, and even 40’s.

As a result, most of us are renting — and we’re more likely to be renting in expensive urban areas.

While it's no easy feat, becoming a homeowner is possible. Mortgage companies and lenders want our business and there are increasingly more home loan options tailored to our specific financial situations.

We’ve put together the top two online mortgage companies that offer millennials the best mortgage terms.

#1 LendingTree

  • Online mortgage marketplace
  • Minimum credit score: None
  • Strength: Most varied options for young buyers

LendingTree is the leading online marketplace of lenders and mortgage companies that enables young buyers to compare the best terms and rates in the industry, including the most competitive combinations of fixed and adjustable-rate mortgages.

For first-time millennial homebuyers it's especially important to compare as many types of mortgages as possible in order to save money and lock in the best rates.

They also make this easy by helping millennials who may prefer to front-load their payment and get the lowest rates possible to start their repayment.

At LendingTree, you’ll be shown options specially tailored to your financial situation that you wouldn’t necessarily find at your local bank.

Compare rates>>

#2 Quicken

  • Online mortgage marketplace
  • Minimum credit score: 620
  • Strength: Tech-savvy and fast application process

Quicken is another online marketplace. They stand out with their thoughtful technology that streamlines the process of searching for home loans, without charging you any additional fees.

This means a better, quicker and smarter online application experience — all from the comfort of your phone or computer.

With it’s unique digital optimization, Quicken has redefined the mortgage industry for millennials and now ranks among the nation's leading-volume lenders.

Get started>>

Buying a home may not be easy for millennials, but it’s possible and with these online mortgage companies you have more options than you may realize.

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