Jun 22, 2024 - News
Who's taking out mortgages
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Roughly one in three mortgages issued in the DMV last year went to Gen Zers and young millennials, a share that's held steady from 2018, according to a recent Redfin report.
Between the lines: Younger people have remained the most common U.S. mortgage borrowers over the past five years, partly because they're more likely to take out home loans rather than pay in cash, researchers found.
Yes, but: Many are using family money for down payments.
More than a third of Gen Zers and millennials who plan to buy a home soon say they expect a cash gift from family, per Redfin.