This is just a quick roundup of stats that highlight the fact that Omaha millennials have a greater opportunity for homeownership.
- Among the 100 largest metro areas, Omaha-Council Bluffs nabs the No. 7 spot for the biggest share of people aged 25 to 34 who own a home.
- Nearly 47 percent of that age group locally are homeowners, compared to about 36 percent in metro areas nationally.
- Omaha also rose to the No.10 rank for its share of people ages 35 to 44 who own homes (that’s a gain of seven ranking spots since 2010).
- About 65 percent of that 35-44 age group locally are homeowners, compared with an average of 57 percent for metro areas across the nation.
Prepaids vs. Closing Costs
What are prepaids?
Prepaids are related to the actual home itself, not the real estate transaction. The three most common prepaids are property taxes, homeowner’s insurance, and mortgage interest.
What are closing costs?
Closing costs are fees related to the real estate transaction itself. Included in the closing costs are payments to everyone who has worked on your loan from the underwriter to the appraiser.
