First-Time Home Buyers Mostly 2-Income Families
<i> Compiled by Jack Searles</i>
The vast majority of first-time home buyers in Ventura County are two-income families, a title company survey shows.
Among first-time purchasers in Ventura County last year, nearly 93% showed double incomes in qualifying for mortgage loans, Chicago Title & Trust Co. reports.
Ventura County’s percentage of two-income first-time buyers compared with 89% in Los Angeles County, 94% in Orange County, 69% in Riverside County and 80% statewide.
Among repeat buyers, 75% in Ventura County had double incomes. This compared with 73% in Los Angeles County, 79% in Orange County, 52% in Riverside County and 67% statewide.
Nationally, 82% of first-time home buyers last year had two incomes while 75% of repeat buyers have two paychecks, the study showed.
