Mortgage Myths & Buying A Home

Have you dismissed the thought of becoming a homeowner due to the financial barriers? You may be short-changing yourself. Many of the details aspiring homeowners believe about buying a home are myths and I am going to dispel some of the more popular folklores. Myth #1: I need a 20% down payment Saving 20% of the price of a home in many places isn't just a challenge; it's a blockade. And it's not a must-do. In fact, the median down payment for first-time buyers is 7%. How can you become part of the less-than-20 club? FHA Loans: The Federal Housing Association (FHA) is an old friend to first-time buyers and others who are ready to become homeowners with less than a 20% down payment. If you qua

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Doug Colliflower

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