Video: Home Buying Market Hot in Golden Triangle

COLUMBUS, Miss. (WCBI) — A recent study by an apartment listing website shows that 84-percent of millennial renters in Mississippi want to purchase a home in the next two years.

Many of those millennials are pushing off home ownership because they think I can’t afford it.

Now is the time to buy, not just across the country but especially in the Golden Triangle.

“Locally our economy is pretty good, you know we still have jobs being created. I think that helps out a lot when people are working,” says real estate agent Stephen Jones.

If you’re looking to move, now may be the time to buy.

” The interest rate is still low, so it’s definitely still a great time to buy. Once the interest rate goes up, you buy less house,” says Jones.

Columbus Realtor Stephen Jones says there are steps you can take to make home buying easier, especially if you’re a first timer.

” Well the number one thing that I would suggest is calling a local mortgage company and getting pre0approved. Once you’re getting pre-approved it makes the process a whole lot easier,” he says.

Jeff Farnham works for one of those companies. He says they look for a few things.

” Job stability, overall credit, what your credit profile looks like, if there’s any money you can put down, how long do they want to finance the home?” says Farnham with JTS & Company.

He says if you can’t put much or even any down, you still have options.

” So we’ll do some 100 percent financing if their eligable. Sometimes we look at FHA that only requires a 3 and half percent down payment, and it will actually allow a gift. If the homebuyer doesn’t have the money themselves, mom and dad can make a little gift for them,” says Farnham.

If you think buying is in your future you should look into getting financial counseling so you can see what steps you need to make your home dreams come true.>

If you’re wondering if your credit score will cut it, some of the realtors I spoke with say a 650 or higher is best.

Categories: Local News

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