Buyers Share Their Feelings About The Home Loan Process

February 24, 2017

A recent survey found that, of respondents who owned a home, more people said the home-buying process was stressful (42 percent) than rewarding (30 percent). The process was also found to be complicated (32 percent) and intimidating (21 percent), as well.

NerdWallet conducted its first Home Buyer Reality Report, an online survey of 2,200 people, about 1,300 of whom have applied for a mortgage and 1,400 of whom are current homeowners. The study asked respondents about their path to homeownership and the difficulties they had along the way, particularly regarding mortgages. Results were broken down by generation: Millennials, Gen Xers, and Baby Boomers.

If they were to go through the home-buying process again, nearly half of American homeowners (49%) would do something differently. … Roughly 3 in 5 millennial (57%) and Gen X (61%) homeowners indicated they had regrets, saying they would do things differently the next time around in the home-buying process, in comparison to only 38% of baby boomers.

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