You CAN Qualify!

You CAN Qualify!

Homebuyers may be more qualified than they think!

Recent national surveys have uncovered several misconceptions about home loans.

The most interesting fact was that over 90% of those who are currently renting said they would like to buy a home if they could qualify.

However, here are some of the areas of misunderstanding that could be blocking those people from taking steps to actually buy a home.

– About 1/3rd of those interviewed thought they had to have 20% of the purchase price as a down payment. This is not true. Financing is available for as little as 3.5% down payment. There is even one special program that only requires ½ of 1% down. For a $300,000 home that would be $1500!

– 2/3rds of those surveyed thought they had to have excellent credit to buy a home. Not true. Credit scores of 620 and above qualify for the best financing. It is true that the highest credit scores get a slightly better rate, but those with lesser credit are still approved for financing.

– ½ of those surveyed felt they would not qualify for a home based on their finances. The first step toward buying a home is to get an interview with a mortgage professional. He will go over your income, debts, credit, assets and see what price range of home you are qualified for. Many buyers are surprised to discover they do qualify to buy the home they want.

Anyone who has considered buying a home should find out if you are qualified. Simply call or email me and I would be happy to go over all the information. I can tell you within 24 hours if you are qualified, and you can be shopping for a home the next day!

Please contact me with any questions.