06/17/2026
Let’s talk home buying myths that may be holding you back 🔑
Think you need 20% down to buy a home? Think again!
Many buyers qualify with as little as 3%, 3.5%, or even 0% down depending on the loan program.
Think your credit score isn’t high enough? While a higher score can help you secure better financing terms, many buyers qualify with less than perfect credit.
Still renting because you think it’s cheaper? Depending on the market, monthly homeownership costs can be comparable to rent while allowing you to build equity over time. Some mortgage payments are even the same or less than monthly rent payments!
Waiting for the “perfect” market? Timing the market is difficult. Home prices, competition, and inventory can all change while you’re waiting.
Have student loans? You’re not alone. Many homeowners purchased their homes while carrying student loan debt. Lenders look at your overall financial picture.
Another common misconception is that the listing price determines a home’s value. In reality, the market determines value based on buyer demand, condition, location, and comparable sales.
And finally, a pre-qualification is not the same as a pre-approval. A pre-approval involves a more detailed review of your finances and often carries more weight with sellers and their agents.
If you’ve been putting off your homeownership goals because of one of these myths, let’s chat!
Emma Noonan | Fontaine Family - The Real Estate Leader | (207)787-1166
