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Myths About the Home Buying Process

Urban Legend                                                                       Fact

A 20% down payment required                                          You can get a mortgage with less than 3 % down

I only may use my savings for down payment                    You may be eligible for downpayment assistance, gifts, 

                                                                                            and grants are OK.

My credit history isn't good enough                                   The lender ultimately decides. Freddie Mac accepts credit

                                                                                            scores equal to or less than 660.

I don't know where to start                                                 Not for profit, HUD approved, Housing counseling 

                                                                                             agencies help at little to no costs

I don't make enough money to own                                    Check with a lender or other housing professionals

Student debt is too big an obstacle                                     It may be a fact but often  isn't