Published November 7, 2018
Top 2 Home Buyer Myths Busted!
One of our biggest goals for our team is EDUCATION! We want to always try to bring you knowledge when it comes to buying and selling a home! We noticed that we have some new friends & followers on our social media pages so we’re going to give you some info on TWO of the Most Common Home Buyer Myths that hold a lot of people back from Buying a Home! And frankly these hold people back from even trying to find out if they qualify . Yup.. people are even afraid to meet with a lender because they just think they can't buy or they are afraid they will get talked into buying a home. We're not here to sell you a home... We are here to help guide you through the process.
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Myth 1: “I need a 780 Credit Score or Higher to Buy”
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Um NO! It is possible to buy with as low as 580 and you’ll need at least 640 for Down Payment Assistance! In most cases, our lenders can offer assistance to help raise your scores to get you a better rate. And did you know that According to Ellie Mae, 51.7% of Approved Loans had a score of 600 - 749 ((please ask about ZERO DOWN VA LOANS.. matter of fact we will post a BLOG about this asap!))
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Myth 2.. AND this is a BIG ONE “I Need a 20% Down Payment!”
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This is a huge misconception about buying a home. Now don’t get us wrong, you still need money for a Deposit, your Closing Cost (which sellers are sometimes will to pay) & for your Inspections BUT here’s some Good News! There are ZERO Down Programs here in Kern County Available & other Programs that will allow you to only bring in 3%! This is WAY LESS Than 20% peeps! We see it Everyday!!
If someone you know is still stuck in the rent trap, please tag them in this post! Buying or Selling a Home in Bakersfield?
Give us a call 661.303.5401 or visit www.BakersfieldIsHome.com
Linda Banales
Broker Associate
Lic 01172638
Bakersfield Real Estate Group
at Agentcor Realty
~ Over 1,200 Homes SOLD ????
Follow us on Instagram @bakersfieldrealestategroup
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