MYTH vs. FACT
REAL ESTATE
1.You Need a Ton of Cash to Buy a Home
There once was a time when you needed a 20% down payment to even consider buying a home. And it’s still a great way to avoid private mortgage insurance (PMI). But today, if you want to lock down a good rate, you’re able to do so with as little as 5% or 10% down.
2. You Need Perfect Credit to Buy a Home
The reality is that while a higher credit score generally allows for a more
favorable interest rate, it doesn’t mean that poor credit is an insurmountable hurdle. There are many options available for buyers of all incomes and credit tiers.
3. Your Mortgage Payment is Your Only Expense
Far too many homeowners neglect to consider the holding costs involved in owning and maintaining a home. Most people think they’re accustomed to accounting for utilities in their budget, but they may forget about trash collection and water, which landlords often cover. There are also ongoing repairs and expenses that come with being a homeowner, and those may take new buyers by surprise.
For more information visit https://www.familyhandyman.com/list/20-super-crazy-real-estate-myths-that-dont-add-up/
Quote of The Month
"The magic in new beginnings is truly the most powerful of them all." ~Josiyah Martin
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