April 9, 2018
Ellie Mae estimates that 45% of all purchase loans closed are from Millennial borrowers. Furthermore, 83% of those loans are for new home purchases.
Tip: In this market, you must cater a your business toward Millenials, meaning directing those borrowers to homes they can afford, educating them heavily on the mortgage process, and shifting them off of rate and onto financial benefits (including lender credits). This also entails having a strong online presence, especially via social media.