- Myth: You need a 20% down payment to buy a home.
- 👻 Reality: There are several loan programs, including FHA and USDA loans, that allow for down payments as low as 3.5% or even 0%! Don’t let the 20% monster scare you away from your dream home.
- Myth: A bad credit score will haunt you forever.
- 🎃 Reality: While a great credit score can unlock better rates, lenders can still help buyers with fair or rebuilding credit. Programs exist to guide you through improving your score—and some loans don't require perfect credit!
- Myth: Renting is always cheaper than buying.
- 🧛 Reality: While renting might seem less spooky in the short term, in many areas, monthly mortgage payments can be the same—or even cheaper! Plus, with homeownership, you build equity (and avoid annual rent increases).
- Myth: You’re stuck if interest rates rise.
- 🦇 Reality: Don’t fear rates—many lenders offer refinancing options or rate buydowns down the road. What’s even scarier is missing out on a home now because of short-term rates.
- Myth: The process is terrifyingly complicated.
- 🎭 Reality: With a great team guiding you (👋 hello, Mortgage Dream Team!), the process is much smoother than you might think. We’re here to demystify every step—so you won’t feel like you’re wandering through a haunted house!
Homebuying doesn’t have to be a nightmare! If you have questions or are ready to conquer your fears, the Mortgage Dream Team at UFFC Express in Tahlequah is here to help make your homeownership dreams come true. 🎃🏡
