Myth Buster Alert! True or False?
FALSE! The notion that you must have a whopping 20% down payment saved up is so last century! Here’s the real scoop:
TRUE: A 20% down payment can offer perks like avoiding private mortgage insurance (PMI) and potentially securing a lower interest rate.
BUT, HERE’S THE MYTH-BUSTING TRUTH:
1. Down Payment Options: Many lenders accept FAR LESS than 20%! Think 3%, 5%, or 10% down payments – making homeownership more achievable.
2. First-Time Buyer Programs: There are awesome programs designed to help first-time buyers with down payment assistance.
3. Explore FHA Loans: The Federal Housing Administration offers loans with down payments as low as 3.5%. Yep, you read that right!
4. Flexibility Matters: Lenders understand that life happens. Negotiate a plan that fits YOUR budget and financial goals.
The takeaway: Don’t let the 20% myth scare you away from your homeownership dreams!
Get in touch, and let’s chat about YOUR personalized path to owning that dream home.