More young people are buying houses by putting older co-borrowers on their mortgages
More young people are buying houses by putting older co-borrowers, often parents, on their mortgages. This trend helps young Americans qualify for home loans as housing costs and borrowing rates strain affordability. Young homebuyers under 35 are increasingly relying on older co-applicants to secure mortgages. Purchases with older co-borrowers have held steady or risen slightly even as overall young homebuying activity has declined.
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- ✓ Young home purchase originations are down 15% since 2018.
- ✓ Purchases with older co-applicants have risen 3% since 2018.
- ✓ High home prices and borrowing costs are straining affordability for young homebuyers.
What changed
Analysis from Rocket Mortgage and other sources confirms that young homebuyers are increasingly relying on older co-borrowers, often parents, to qualify for mortgages.
Live updates
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Young homebuyers turn to older co-borrowers as housing costs rise
More young people are buying houses by putting older co-borrowers, often parents, on their mortgages. This trend helps young Americans qualify for home loans as housing costs and borrowing rates strain affordability. Young homebuyers under 35 are increasingly relying on older co-applicants to secure mortgages. Purchases with older co-borrowers have held steady or risen slightly even as overall young homebuying activity has declined.
Why it matters
The American dream of homeownership is becoming increasingly challenging for young people due to high home prices and borrowing costs. As a result, many are turning to family members for help. This trend reflects a broader shift in the housing market, where access to family assets is becoming a crucial factor in securing homeownership.
What is confirmed
- Young home purchase originations are down 15% since 2018.
- Purchases with older co-applicants have risen 3% since 2018.
- High home prices and borrowing costs are straining affordability for young homebuyers.
What to watch next
- Future trends in young homebuying activity and reliance on older co-borrowers
- Changes in housing market conditions, including home prices and borrowing rates
- Development of new credit-scoring options for first-time homebuyers
confidence 90%Sources used for this update (11)
- Yahoo Finance — More young people are buying houses by putting older co-borrowers on their mortgages
- USA Today — How parent co-applicants keep the American dream alive
- Barron's — More Young Home Buyers Are Turning to Their Parents for Help as Housing Costs Rise
- National Mortgage Professional — Young Homebuying Falls 15%, But Purchases With Older Co-Borrowers Hold Steady
- The Wealth Advisor — More Young Homebuyers Are Putting Their Parents On The Mortgage. The Parents Are Taking On The Debt, Too.
- baynews9.com — HUD secretary visits Tampa Bay, outlines efforts to help younger Americans buy homes
- finance.yahoo.com — More young people are buying houses by putting older co ...
- www.thewealthadvisor.com — More Young Homebuyers Are Putting Their Parents On The ...
- wrenews.com — Young Homebuyers Turn to Older Co-Borrowers as Purchases Fall ...
- thecudaily.com — Many Younger Homebuyers Now Relying on Older Co-Applicants
- www.armstrongeconomics.com — The New American Housing Divide: Those With Family Assets And ...
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