If you’ve been thinking about buying your first home, chances are you’re getting tons of advice from everyone you mention it to. It can be pretty overwhelming which is why I want to share 3 home buying myths you need to know if you’re considering homeownership. These will help debunk some of the things you may be hearing from people who want to give their advice from the kindness of their hearts but probably aren’t professionals.
MYTH #1: You Have to Put 20% Down to Purchase a Home
This could be the biggest home buying myth of all time! Putting a minimum of 20% down on a house does have some financial benefits .. BUT it isn’t required.
There are several options when it comes to financing your home so you’ll want to meet with a local lender to discuss these options before jumping head first into the process.
There are loans that require as little as 3% down as well as resources for buyers struggling with down payment money and first time home buyer programs.
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