By: Marian Camacho - Associate Broker
Buying a home can be a scary process for a lot of people and often their fears are caused by things that simply aren’t true. Quite frankly it’s really common for to hear of “myths” creating buyer hesitation. One we hear all the time is that they can’t afford a down payment, because after all you need 20% down to buy, right? Wrong! In fact in most cases you can purchase a home with 3 to 5% down and if you have a loan backed by the VA, you don’t have to put any money down at all.
Another "myth" that creates hesitation to buy is that they can't afford a monthly mortgage payment. My first question would be "Well how much are you paying for rent every month?" Unless you're still living at home with your parents, rent free, you're paying something to have a roof over your head and truthfully a lot of people are shocked when they find out what kind of a home they could “own” with the same amount or close to what they’re paying every month in rent. That’s where our team comes in. Within minutes, we can help you determine how much of a home you can afford based on what you’re paying in rent every month. It's something every potential buyer should take advantage of.
Finally, let's talk about the dreaded credit issue. Many potential buyers have no idea what their credit score is, and fear even looking at it. What I would say is that while it’s important to have good credit, it’s not the end of the home-buying discussion if you don’t. If credit is a problem for you, for most people, there's a solution. Just to give you an example, I worked with a buyer whose credit was affected by a couple of delinquent medical bills. They had paid them off, but it was showing up on their credit and was keeping them from getting the loan they needed. Through an aggressive credit repair program, they were able to buy a home within 6 months. My advice would be to start the process now so that in a year from now, or even sooner, you can be calling ourteam to help you find your new home!
Call us today for a FREE Buyer Consultation!
505-264-3344
