2 Myths Holding Back Home Buyers

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.

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..

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Seven myths-or, perhaps more accurately, misperceptions-that are holding back fleet. many fleet owners are hanging back from adopting EOBRs ahead of the mandate, Kraft revealed the seven myths he.

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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. Myth #2: "I Need a 780 FICO Score or Higher to Buy" Many either don’t know or are misinformed concerning the FICO score necessary to qualify, believing a ‘good’ credit score is 780 or higher.

2 Myths Holding Back Home Buyers. Freddie Mac recently released a report entitled, "Perceptions of Down Payment Consumer Research." Their research revealed that, "For many prospective homebuyers, saving for a down payment is the largest barrier to achieving the goal of homeownership. Part.

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.

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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. In a 2017 survey, 68% of renters cited saving for a down payment as an obstacle to homeownership.

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,