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Online searches for first-time buyer mortgages are at an all-time high

The process of buying a home can be extremely daunting, especially if it’s your first time doing it. Recently, Chase Home Lending and Google paired up to figure out how and what people are searching online about homeownership. The companies discovered people are looking up information about first-time buyer mortgages more than ever before.

The ultimate goal of the project, called “Search for Home Snapshot,” is to make the process easier for those who might feel stuck. The data found that 44 percent of online searches in the mortgage category are for first-time buyers specifically. This number is an 11 percent increase from what it was in 2016.

According to a Chase report, millennials and first-time home buyers are often the ones who feel the most unsure about how to start the search process in the first place. Thus, it’s no surprise these are the groups turning to online search engines the most. Buyers under age 35 also accounted for 16 percent more of Chase’s first-time mortgages in 2016 than they did in 2015…

Online searches for first-time buyer mortgages are at an all-time high was originally published on Chicago Agent Magazine – For the well-informed real estate professional, the leading source for news and perspective for real estate professionals in the Chicagoland area.

Source: Chicago Agent Magazine

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