The 20th Century version of the “American Dream” has already had a lot of up and downs in the first two decades of the 21st Century.

After the Housing Crisis took the wind out of homebuying’s sails, the federal government created new lending standards and practices, and helped right the mortgage ship.

Then the pandemic in 2020 unexpectedly launched the full-fledged homeownership frenzy again. Within months, rising prices and inventory shortages boxed many aspiring homeowners out of traditional markets.

When it comes to suburban homes with a “white picket fence” in 2021, wealthy investors - or those with plenty of home equity – nearly always outbid first-time buyers with lesser credit and smaller savings accounts.

Fortunately, the pandemic also increased opportunities for remote work, bringing the freedom and flexibility to take the homeownership journey in myriad directions. There are several other perfectly valid interpretations of “the American Dream” custom-made for today!

First timers and those of modest means can still get the picket fence, but maybe somewhere somewhat farther out. Enter the exurbs.

Exurbs are relatively rural communities, typically with good schools and safety.
The migration from urban areas to the exurbs marked the biggest population shift in the pandemic, and as more homes are built farther from downtown, amenities will likely improve, creating new gathering places and hotspots. Exurbs are an ideal that has become many degrees more palatable to many Americans.

The demise of cities, in the meantime, was greatly exaggerated. The mass urban exodus at the beginning of the pandemic never fully materialized, with statistics showing that 40% of metro movers didn’t leave town, but simply relocated to other neighborhoods.

As a result, cityscapes are still scintillating and 60% of wealthier millennials say they plan to buy a home in a big city within the next year.

Bay Equity Home Loans' professionals have decades of combined expertise lending in your local area. Whether it’s a condo downtown or a home in the suburbs, Bay Equity has the loan programs to help buyers qualify.

Bay Equity offers choices - including fixed rate, adjustable rate, FHA, Jumbo and more.

With in-house underwriting, Bay Equity loan officers have a direct line to your mortgage. There’s no waiting for answers while third parties move through a queue of other lenders’ clients.

At Bay Equity, efficiency - not just speed – is the true test of excellence.
Like you, Bay Equity Home Loans values both timely service and quality service.

Give Bay Equity a call today. We're here to get you home.