Common Misconceptions People Have About The Home Buying Process

Dated: December 16 2017

Views: 61

Common Misconceptions People Have About The Home Buying Process

If you’re considering buying a new home, but are on the fence due to a few myths you’ve heard – we’re here to debunk them for you. These are some common misconceptions people have when looking to buy a home:

  1. Find the Home First

Although this might make sense, this is false. It’s not the best idea to look at a house before getting pre-approved for a home. If you get pre-approved first, you’re avoiding breaking your own heart and setting your mind on something you can’t afford. By getting pre-approved for a loan BEFORE looking for a home, you’re walking into the process with a budget in mind, and your realtor can work with you to find something you are able to love AND afford.

  1. The Longer the Mortgage, The Better Shape You’re In

This also is a lie. Many people believe 30-year fixed-rate loans are the best options out there. While this might seem like a cheaper route to go, 30 years is a long time. In fact, you might end up paying more money in the long run. Make sure to consult with mortgage professionals, and keep an open mind towards other loans. We will help find the perfect loan for you to help suit your financial needs.

  1. You Can’t Buy A House With Bad Credit

FALSE AGAIN! FHA loans require only 3.5% down payment and borrowers with low credit scores (even under 600) can qualify for this loan.  Make sure to consult with our loan team to see if this is the best option for you.

  1. You Don’t Need A Home Inspection

Cutting corners is never a good idea – especially when you’re investing a large sum of money into what you’re buying. Go the extra step and have your house inspected. When you waive you your home inspection, you are agreeing to take the house as is. This means any issues with the septic take, electrical problems, or other hidden fees that can sneak up on you down the road. Avoid spending more money and have the house inspected – you’ll thank yourself later.

When you’re ready to make the move to buy a home, give one of our trained professionals a call. We are more than happy to debunk any myths or concerns you may have and help you find the perfect loan that best suits your needs.

For More Info Visit: http://www.bondstreetmortgage.com

Blog author image

Jessica Rojas

Jessica Rojas is an extremely dedicated and committed real estate agent who has been working in the Real Estate field since 1997. She became a licensed real estate agent in 2009 as a sales associate ....

Want to Advertise on this Site?

Latest Blog Posts

5 Features Home Buyers Are Most Likely To Fight About

When you’re shopping for a property, you probably have a list of must-have features for your dream home. But when you’re shopping for a home with your partner, your list of must

Read More

How Buyers Sellers Can Prepare For An Early Start To The Spring Market

Is January the new April? When it comes to the real estate market, experts say yes. Regardless of whether that famous groundhog sees his shadow, a recent article on CNBC suggests

Read More

9 Unexpected Thoughts That Go Through Your Head After Submitting An Offer On A House

Buying a home is a rite of passage, and there are people who go through the process multiple times throughout their lifetimes. Even if you have a great agent, it can be a stressful process.

Read More

Go To Favorites Selling Your Home Tackle These Issues Before The Inspection

The home inspection is one of the last steps in the home selling process. But if something goes wrong and the home inspector finds issues with your property, it could give buyers reasons to

Read More