Slaying the Most Common Myths About Buying a Home

Destroying the Most Common Myths About Buying a Home

Every child at some point fantasizes about being a Dragon Slayer. Today we are going to slay some common myths about buying a home.
Dragon Slaying movies are exciting but can also be the source of nightmares for many youngsters. One of the ways a child is comforted after experiencing a bad dream is through his or her parents. Mom or Dad turns on the lights and proves there are no dragons in the closet or under the bed. The child is assured and calmed and all parties head back to slumber-land. Once the dragon is exposed it is slain.

Common Myths and Misconceptions about Buying a Home

The most common misconceptions about buying a home are in the area of finances. How much down payment do I have to come up with, what does my FICO score have to be to qualify, is now the time to buy or wait until later, will the landlord raise my rent again this year? The infographic below will answer these questions for you and hopefully clarify for you the basic truths about buying a home. Speaking of Dragons, your landlord is projected to not be too nice in the years ahead …

Highlights

Interest rates are still below historic numbers
88% of property managers raised their rents in the last 12 months
Credit score requirements to be approved for a mortgage continue to fall. The 723 average score is the lowest since Ellie Mae began reporting on scores in August 2011
The average first-time home buyer down payment was 6% in 2015 according to the National Association of Realtors

Call Finding Homes for You at 636-532-4200 and we can help you start your home buying journey. We know how to slay dragons and protect your interests from the beginning of your adventure til when you’re tucked safely away in your new home!