Kiplinger

How to Give a First-Time Home Buyer a Hand

The housing market is a tough nut to crack these days. Prices are hitting the stratosphere thanks to low inventory, which is sparking bidding wars among buyers. Landing a home can seem impossible for younger buyers, who may need help with the down payment or qualifying for a mortgage. One-third of millennials report that coming up with the money for a down payment is the biggest obstacle to buying a home, according to the American Bankers Association. In fact, it takes 10 years, on average, for most home buyers to save a 5% down payment.

However, buying a first home is a lot easier if

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