Posts from April 15th, 2022
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April
15
15
Common Real Estate Myths, Continued
Common Real Estate Myths, Continued
Last week, we published a few common real estate myths relating to the current housing market. In an effort to clarify some common misconceptions that we frequently hear, we put together another list of common real estate myths and the reality behind each of them.
MYTH: You need to put 20% down when purchasing a home.
TRUTH: Some loan types offer the option to put as little as 3.5% of the purchase price down. This option does depend on the buyer's credit score and the down payment requirement may vary. For example, FHA loans will accept between 3.5-10% of the purchase price as a down payment depending on the buyer's credit score.
MYTH: You ne...