When it comes to buying a home, it’s easy to get overwhelmed. Phrases like, “Down payments, interest rates, mortgages, and pre-approvals,” often lead to what we call “analysis paralysis,” which may cause you to avoid the process altogether. So, we want to alleviate your stress and show you 3 reasons why buying a home is easier than you think!
Reason 1: It may not require as much money as you think
One of the main concerns that buyers have when looking to purchase a home is how much they’ll need for a down payment. We’re here to tell you that you probably don’t need as much as you think! In today’s market, there are so many options that are available when financing a home, including several options that make it easy to buy with little or NO money down.
A few examples include:
- Conventional loans that go as low as 3% down
- Down payment assistance programs that will help you get approved with no money down
- Government assistance programs like FHA
- VA loans that require no down payment
Now some of you may be saying, “That all sounds great, but what about my credit!?”
That brings us to our second point.
Reason 2: You may qualify with your existing credit score, OR you may be a lot closer than you think
You may already know this, but a conventional loan to buy a home typically requires a credit minimum of 620.
But what if I’m below 620?
Have no fear, Theory is here…
Once again, there are great options available for those even in the 500’s. We would recommend consulting a Mortgage Loan Officer (also known as a mortgage lender). This may sound intimidating, but they are experts in helping you walk through the process and setting you up for success.
Reason 3: Agents are here to help
An agent can (and should be) your best advocate in helping you through the home buying process. Will there be some challenging or even frustrating moments along the way? Sure, but agents are there to work through these challenges and ultimately save you loads of time.
Even if you’re slightly considering buying a home, talk to an agent. It doesn’t matter if you’re still a year away from starting the process, a five-minute conversation can do wonders. We promise it will save you a lot of heartache.
In Conclusion
Whether you’re looking to buy now or in the future, we hope these 3 reasons showed you why buying a home is easier than you think. Start the conversation today: Call a Real Estate Agent, talk with a Mortgage Loan Officer, and begin your journey to homeownership.
Want more information? Contact us at 253-537-HOME or hello@theoryRE.com!
