Buying a home can be difficult, but not as difficult as people may make it seem. Rumors fly around and make others believe some bizarre things!
Myth #1: “Don’t I Need a 20% Down Payment?! That’s impossible!”
Shocking enough, you and other buyers usually ALWAYS overestimate down payments needed to qualify you to purchase your dream home. While most homebuyers believe that they need at least 20% down to purchase their dream homes, what they don't realize is that there are many programs out there which will allow them to put down as little as 3%! Crazy, right? If you're currently renting from the fear of down payments, there you go! Many renter are actually able to enter the housing market sooner than they ever imagined.
Myth #2: “I Need a 780 Score or Higher to Buy!!”
Many Sort of like the down payment method, many don't realize certain things. For example; 780 is crazy high and thats not true! Similar to the down payment, many either don't know or are misinformed about what credit score is needed to qualify to purchase a home.
Many homebuyers think that a "good" credit score is considered to be 780 or higher!
Many Don't listen to everything you read on the internet! Buying a home can be easier than people make it seem. Start your home search today or give us a call to ask any other real estate questions you might have!
SRN Real Estate Pros
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