Myths of First time home buyers

2 years ago
3
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Myths of First time home-buyers.

1. 20% down —- average is roughly 6% down. CONVENTIONAL loans as low as 5% down.
2. Wait to get pre approved —- in today's market a seller wants to see you're qualified before considering your offer.
3. Debt free and perfect credit - not to buy a house! Lenders determine your debt to income ratio and FICO score to decide how much you can afford.
4. You can offer lower than asking price - in today's hot market it’s important to start with a competitive offer especially for new listings and those with competing offers.

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