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On the Fence About Buying a Home? Don’t Let These Myths Stop You

 

There is a lot of pent-up demand for homes, particularly among buyers entering the housing market. If you’re hesitating, perhaps it’s based on belief in one of these myths.

 

Myth: Buying a home requires a minimum 20% down payment.

 

Truth: Right now there are down payment programs requiring 5% or even less to get into a home. There are even no down payment options available to some buyers.

 

Myth: The homebuying process, from the search through the contract, can be done online.

 

Truth: The Internet has changed the process of finding and buying a home for the better. You can spend more time and get more information all online. However, when you get to your shortlist, a real estate agent is your most valuable resource for market area knowledge and advice.

 

Myth: Buying a home isn’t possible as long as you have student debt.

 

Truth: The National Association of Realtors (NAR) reports¹ that 44% of younger buyers bought their homes while maintaining varying levels of student debt. When student debt is involved, there are new debt-to-income ratio requirements to help.

 

Let us show you how to bust these myths and open the front door to your new home.

 

NAR Generational Survey: https://www.nar.realtor/newsroom/nar-generational-survey-millennials-increasingly-buying-in-suburban-areas

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