Survey by Carrington Mortgage Services Signals Down Payment Still Major Hurdle for Most Millennials

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Carrington Mortgage Services, LLC

May 28, 2015, 10:02 ET

SANTA ANA, Calif., May 28, 2015 /PRNewswire/ -- A national survey by Carrington Mortgage Services, LLC (Carrington) and OnePoll found that 64% of Millennial respondents think their biggest obstacle to buying a home was a sufficient down payment.  Despite available capital being a hurdle, the survey conducted in April 2015 of 2,000 Millennials found that 55% plan to purchase a home within two years, a statistic that may have been triggered by the reduction in mortgage insurance premiums (MIPs) announced on January 8 by the Department of Housing and Urban Development. 

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Despite Obstacles, 55 percent of Millennials Plan to Buy a Home Within Two Years
Despite Obstacles, 55 percent of Millennials Plan to Buy a Home Within Two Years

The following infographic shows the survey's insights around Millennials' attitudes about buying a home.

The data was collected last month by OnePoll, a leading online market research company that provides consumer insights for national brands, charities and other organizations daily. For more information about this survey or to learn more about Carrington Mortgage Services (Carrington; NMLS ID 2600), please visit www.CarringtonHomeLoans.com.

Media Contacts:

Christine Stricker
Office: (949) 517-7313
Mobile: (714) 873-4275
[email protected]

Kristen Rocco
Office: (212) 601-9341
[email protected]

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SOURCE Carrington Mortgage Services, LLC