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Home Ownership and Misconceptions from Credit to Loans and Closing Costs

Are you considering being a homeowner but dont know where to start? Maybe you’re worried about your credit? Maybe you have ❌ no idea about loans and know there are so many different avenues and even misconceptions to the process? We’ve got you covered!

A message 📣 from Agents Brandon Brittingham and Rich Barr:

One of the things we’re going to talk about today is home 🏠 ownership and touching on and explaining a lot of misconceptions and myths that are out there that we think sometimes can prevent people from even getting in the process of looking for a house.

We think 💡 the biggest misconception is going to be that you need 20% down. We also touch on different loans and what can work best for you as an individual .

Its so important to have these conversations with the expert in your market and in our market – hopefully it’s us about how does this work? How can I get into a house 🏡? What does it look like? And you might find out that you can come out of pocket with little to nothing, funds, or maybe you need a little bit more, but it’s like anything else, knowledge is power.

A recap of our conversation includes to know your credit picture. Don’t be embarrassed, because at one point everybody had to start with no credit. Know there are all kinds of financing programs that are out there. USDA can get you in a hundred percent financing. FHA is three and a half percent. Then VA, which we didn’t talk about, we’ll talk about on another episode, but that’s another low ⬇️ down payment loan process that’s out there.

And your closing costs 💲 are something totally separate than your down payment. So these are a lot of misconceptions that people have or get misinformation about when they buy. And the whole purpose of this is just to get education out to the consumer. So when it comes time, whether you buy a house 🏠 through us or not, you just have knowledge to go through the process, because we believe in home ownership and the more people we can put in houses regardless if we help them, we think it helps everybody.

So just a couple of things we talked about today to go over, to help you get more educated on the home buying process!

If you would like to speak with one of our experts, we would love to connect and walk you through every step of the process!

The Maryland and Delaware Group of Long & Foster Real Estate
☎️ D: 443-783-3928 O: 443-339-9200

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Our agents write often to give you the latest insights on owning a home or property in the local area.