Washington Metropolitan Newlyweds are frustrated by the high home prices and the financial inability to put money down towards a down payment and closing costs on a home. Newlyweds and Housing: How can Newlyweds afford a home with today’s soaring home prices?
Newlyweds are frustrated and concerned over today’s home prices and their lack of finances to buy a home.
Washington Metropolitan Newlyweds are frustrated by the high home prices and the financial inability to put money down towards a down payment and closing costs on a home. Many newlyweds fear that they will never be able to afford a home in the area and are concerned about their future to build a better quality of life.
Mark Morrison of Green Leaf Mortgage hears these grumblings at his mortgage shop from newlyweds and young couples. One couple that lives in Montgomery County indicated to me that they may have to move to Hagerstown, MD where home prices are much lower. Another couple told me they were fearful of not being able to buy a home in their younger years where it would allow them to build a net worth much quicker than buying one when they were older.
After listening to several of these concerns, a light bulb went off in Mark’s head. “Why not create a Mortgage Bridal Registry™ for couples getting married. I remember my parents helped me out when I got married by giving me money for down payment and closing. Well, not everyone can borrow money from their parents. So I decided to have a Mortgage Bridal Registry™ where the wedding guests could contribute towards the down payment and closing costs of the couples first home.”
This would not necessarily take the place of their normal bridal registry unless they want to. It could be in addition. Of course by having the Mortgage Bridal Registry™ only, you can expect to have more of a contribution. The money would be used towards the purchase of a home for the Newlyweds to live in and start their life together.
Wedding party guests would make checks payable to the sponsoring title company and that money would be held in an escrow account for them to use. Before a Mortgage Bridal Registry is set up, Mark Morrison would speak to the couple and make sure they are mortgage ready or will be mortgage ready in the near future.
Mark Morrison of Green Leaf Mortgage is located in Montgomery Village, MD and has helped many couples buy their first home and offers a broad range of mortgage products
http://www.prbuzz.com/newlyweds-and-housing-how-can-newlyweds-afford-a-home-with-todays-soaring-home-price.html
