5 Myths About Buying Your First Home (Debunked)

🏡 Buying your first home is a big step — but it doesn’t have to be scary. Let’s separate fact from fiction so you can move forward with confidence.

🤯 Myth #1: You Need a 20% Down Payment

Reality: Nope. This is one of the most stubborn myths out there.

Many loan programs allow you to buy with as little as 3% down (or even less with assistance).
FHA loans can start at 3.5% down.
Some first-time homebuyer programs even offer grants to help with your down payment.

💡 Tip: You don’t need to drain your savings — you just need the right strategy.

💳 Myth #2: You Must Have Perfect Credit

Reality: A high credit score helps, but it's not a dealbreaker if yours isn't spotless.

FHA loans accept credit scores as low as 580 (sometimes lower with larger down payments).
Some programs look at non-traditional credit like rent, phone, or utility payment history.
Lenders care more about overall financial health, not just a number.

🧠 Think of credit as one piece of the puzzle, not the whole picture.

💸 Myth #3: You Can’t Buy If You Have Student Loans

Reality: You absolutely can — and many first-time buyers do.

Lenders look at your debt-to-income ratio (DTI), not just your loan balance.
As long as your payments are manageable compared to your income, you may still qualify.

📈 Having student loans doesn’t mean you can’t own a home — it just means you need a smart financing plan.

⏳ Myth #4: It’s Better to Wait for Rates or Prices to Drop

Reality: Timing the market is risky — and waiting can actually cost you more.

Interest rates may rise again.
Home prices may go up.
While you wait, rent payments continue, and you miss out on building equity.

📆 Sometimes, the best time to buy is when it’s right for you — not when the headlines say so.

🧾 Myth #5: The Process Is Too Complicated

Reality: It can feel complex, but with the right guidance, it’s totally manageable.

A good lender and real estate agent will walk you through every step.
You'll get help with everything: paperwork, loan options, inspections, and more.
Plus — many first-time buyer programs offer free counseling and education resources.

🤝 You don’t have to go it alone — and you shouldn’t.

✅ Bottom Line: Don’t Let Myths Hold You Back

The truth is, buying your first home is more achievable than many people realize. If you’ve been sitting on the sidelines because of something you “heard” — let’s talk.

There are real programs and real people ready to help you make it happen.

📞 Ready to Find Out What You Qualify For?

Let’s chat about:

Your credit
Your down payment options
First-time buyer assistance in your area

🎯 There’s no pressure — just a clear path forward.