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Monday, November 13, 2017

Busting 3 Common Home Buying Myths


I recently read an interesting article in regards to millennials and homeownership. The article contained a list of three common myths about this subject that I want to relay to you.

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I recently read an interesting article in regards to millennials and homeownership. The article contained a list of three common myths about this subject that I want to relay to you.

  1. Student loans will prevent you from purchasing a home. This myth simply isn’t true. There are programs out there which are specifically designed to work with buyers who have student loans.
  2. 20% down is required when purchasing. 40% of Americans buy into this myth, believing it will take at least 20% down to purchase a home. However, this is false. In reality, there are loan options out there with 0% down.
  3. Your credit score will affect your ability to buy. The truth is that your credit score doesn’t need to be nearly as high as some might believe. The majority of mortgages written lately have been for a credit score from between 600 to 750. Even if you are below 600, there are programs for credit repair you can take advantage of.
The majority of mortgages written lately have been for a credit score from between 600 to 750.
If you have any other questions or would like more information, feel free to give me a call or send me an email. I look forward to hearing from you soon.