This year's coronavirus pandemic and the accompanying recession have turned a lot of people's financial plans upside down. But those millennials who've been lucky enough to hang onto their jobs are fast-tracking their plans to buy a home, in part because the pandemic is helping them do so.

There was fear early this year that price levels had outpaced income growth and become unsustainable — but record-low mortgage rates and promises by the Fed to keep U.S. interest rates at zero through at least 2023 have lit a new fire under the market.

It’s tempting to fall in love with a house that’s outside your budget when looking for home. So, before you start shopping around, it’s helpful to know your price range, what a comfortable monthly mortgage payment is for you, and ultimately how much money you can borrow for your loan. Pre-approval from a lender is the only way to do this.

This year, people are moving for a variety of different reasons. Like most things, the current health crisis has truly re-shaped our lifestyles and our needs, and the Real Estate industry has felt this change. Spending extra time where we currently live is enabling many families to re-evaluate what homeownership means and what they find most important in a home.

It’s tempting to fall in love with a house that’s outside your budget when looking for home. So, before you start shopping around, it’s helpful to know your price range, what a comfortable monthly mortgage payment is for you, and ultimately how much money you can borrow for your loan. Pre-approval from a lender is the only way to do this.