Buying a home is an important step in building a secure financial future. But because of some common misconceptions, many people believe homeownership is out of their reach. Don’t let these myths keep you from the personal and financial rewards of homeownership.  Myth #1 “I don’t have enough money for a down payment.” In the past, buying a home required a 20% down payment. But not today. In fact, over half of the first-time homebuyers make a down payment of 5 % or less. Many lenders have loan programs that can help you buy a home without a lot of cash, or any at all. Myth #2 “I have less-than-perfect credit, so I can’t get a mortgage.” A less-than-perfect credit history doesn’t have to stand in your way of reaching your homeownership goals. Ruth Realty has helped thousands of individuals move beyond credit challenges into homes of their own. Myth #3 “It’s cheaper to rent, and now may not be the right time to buy.” In fact, you may be surprised how much home you can buy for the same rent check you're sending in now, especially when you consider the tax advantages of homeownership*. And unlike rental costs, your monthly principal and interest payments will stay the same for the life of a fixed-rate mortgage. Because home prices historically increase (and only occasionally decline for brief periods), buying as soon as you’re able is a more effective strategy than trying to time the real estate market. Moreover, as a homeowner, you’ll be building wealth as your home equity grows. Myth #4 “The whole process is too long and complicated.” We want to make buying your first home as easy as possible. Your Ruth Realty professionals will help you through each step of the financing and home buying process, so you’ll never have to go it alone. Myth #5 “I won’t be able to afford to buy a home on my budget.” Our goal is to help you succeed , so we’ll carefully review your options with you and help you understand how to choose the loan that’s right for you. With a loan that fits your budget and your financial goals, your home will be a powerful tool in building a secure future for you and your family. |
Remember, Your Rent Pays Your Landlords Mortgage!