What Is Holding You Back

Dated: 04/16/2018

Views: 12

Did you know there are TWO Major Myths that keep Buyers from Buying? 80% of consumers either are unaware or believe all lenders require a down payment of 5% according to a recent report by the Urban Institute. 

Myth One: I need to save 20% for a down payment!

There are many options for mortgages available that is why is so important to talk to a lender to determine what is available to you and/or what you need to do to get where you want to be.  There are programs that allow 3% down and even some ZERO down programs in qualified areas.

Myth Two: I need a 780 FICO score or better!

I have found over the years that many times people think they do not have the credit necessary to purchase and "are working on it" when in reality they may not be doing the "right" things to get their credit where they need it to be and/or it really is not as bad as they think. Once I had clients that were selling a home in a different city and looking to lease, we put in several applications and were denied so I suggested trying to purchase and they qualified and bought their dream home. Many consumers are misinformed about what FICO score is needed to qualify when a recent report from Ellie Mae's show 53.5% of approved mortgages had a credit score of 600-749. 

Just debunking these two myths may make your dream home within your reach! Give me a call and I can give you the name of a phenomenal lender who can help you with finding the right program for your dreams!

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