Buying a house is exciting, but it can also be stressful!
It's easy to fall prey to the myths about buying a house, but I'm here today to put your mind at ease, give you the correct information, and set the record straight!
Here are 3 home-buying myths you need to stop believing👇🏼
1. You Have To Put 20% Down.
While putting down a large down payment when purchasing a home can be beneficial, it isn't necessary or required to have 20% of the purchase price in cash for your down payment. Some lenders will allow you to put down as little as 3% of the purchase price on your home!
2. You Need Perfect Credit To Buy A House.
If you have decent credit, it's still possible to get a mortgage, and if you have poor credit, there are options out there that can help you get back on your feet. While good credit is helpful when applying for a mortgage, you don't need perfect credit. Lenders assess several factors when determining whether or not you can qualify for a loan, not just your credit score!
3. You Need a Lot of Money for Closing Costs
Closing costs, which usually include title fees, appraisal fees, and other costs associated with closing on a home, can be expensive. However, there are ways to reduce these costs. Some lenders and state programs offer assistance with closing costs, and sellers may be willing to cover them in certain situations.
Considering homeownership? Let's meet up and discuss your real estate goals! We'd love to connect and would be happy to answer any questions you might have. Send us a message to book a buyer consultation!
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📸 @onelookrealestate
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