Buying a home can feel overwhelming, and with so much information online, it’s easy to get caught up in a few common myths. Let’s clear up some of the biggest misconceptions we hear from first-time buyers.

1. You need 20% down to buy a home.
Not true! There are many loan programs that allow for much smaller down payments – some as low as 3%. A knowledgeable lender can help you find the best fit for your budget.

2. A 30-year fixed mortgage is always the best choice.
It’s a great option for many buyers, but not everyone. Adjustable-rate and shorter-term loans can make sense depending on your goals and how long you plan to stay in your home.

3. You need perfect credit to qualify.
Good credit helps, but you don’t need a spotless score. Many lenders offer programs for buyers with moderate credit, and there are steps you can take to improve your score before applying.

4. Buying a fixer-upper will always save you money.
Renovations can add up fast! Be sure to get estimates and weigh the cost of updates before assuming a fixer-upper is the cheaper route.

5. Buying is always better than renting.
Buying can be a great investment, but it depends on your lifestyle, job stability, and future plans. Renting can be the right move if you value flexibility or are still exploring neighborhoods.

Thinking about buying your first home? Let’s talk about what’s best for you – not just what you’ve heard!

Call or text Lindsey Spillers at 904-881-5216 for a free buyer consultation.