2 Myths Holding Back Home Buyers

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2 Myths Holding Back Home buyers. freddie mac recently released a report entitled, “Perceptions of Down Payment Consumer Research.” Their research.

2 Myths Holding Back Home Buyers In Realtor.com’s recent article, "Home Buyers’ Top Mortgage Fears: Which One Scares You?" they mention that "46% of potential home buyers fear they won’t qualify for a mortgage to the point that they don’t even try."

2 Myths Holding Back Home buyers. jun 10, 2019 "For many prospective homebuyers, saving for a down payment is the largest barrier to achieving the goal of homeownership.".

But there are also many myths and misconceptions surrounding the process that can hold potential home buyers back from exploring their options. mortgages with a down payment as little as zero. 2..

Top 3 Myths Holding Back Buyers So you put off applying, or you close the door on ever buying a home. Sound familiar? Many Americans say they want to be homeowners, according to Wells Fargo’s How America Views Homeownership survey..

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2 Myths Holding Back Home Buyers by The KCM Crew on June 10, 2019 in Buying Myths, Down Payments, First Time Home Buyers, For Buyers, For Sellers, Housing Market Updates, Move-Up Buyers. Are you a Bridge Builder? If so, log in to share a personalized version of this post.

2 myths holding back home buyers – Urban Institute recently released a report entitled, "Barriers to Accessing Homeownership: Down Payment, Credit, and Affordability," which revealed that, "Consumers often think they need to put more money down to purchase a home than is actually required.

Myth #1: "I Need a 20% Down Payment" Buyers often overestimate the funds needed to qualify for a home loan. According to the same report: 22% of renters and 31% of homeowners believe lenders require 20% or more of a home’s sale price as a down payment for a typical mortgage today. And,

Because of that, here are two major myths the tend to be holding back homebuyers. #1. You need a 20% down payment. Unless you are a repeat buyer and have a huge chunk of equity to put down on another home, most first-time homebuyers don’t have the 20%. We are often unaware of the option to take out low down payment mortgages.

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