Here’s what you really need to know about a few myths causing fear in today’s housing market!
1. MYTH: If I have student loan debt, I can’t buy a home.
- FACT: Many people can still buy a home, even if they have student loans. “….buying a home with student loans is possible, experts say. the proof is in the numbers, too: Some 40% of first-time homebuyers have student loan debt, according to the NAR study.” – Apartment Therapy.
2. MYTH: Home prices were going to crash in 2023.
- FACT: The data proves, nationally, home prices are not crashing. They’re actually rising again after only a slight dip.
3. MYTH: I have to put 20% down when I buy a home.
- FACT: You usually don’t have to save 20% for a down payment, unless specified by your loan type or lender. According to NAR, the median down payment is lower than that.
If you have other fears or reservations about buying a home today, let’s connect so you have an expert to help clear those up. Contact us now! @SHEA PREFERRED REALTY