Renters – You CAN Buy A Home!
Renters – You CAN Buy A Home!
This week’s video is for you renters out there that are watching this, or if you know someone that’s a renter, please forward this video because I saw a survey recently that said that over 50% of renters think that they can’t buy a home. And it’s such a shame because there’s much pride of ownership with owning a home. You can do what you want with your space. You’re not going to have to worry about renewing a lease every year. That’s why I wanted to put together this video, because there’s not as many barriers to entering home ownership as you may think. One of the biggest factors that people think is that you have to have perfect pristine credit in order to buy a home. And that’s actually not true. You can have credit that has a few dings on it.
Maybe not a perfect credit score, and you can still qualify for a home loan. Our minimum credit score is a 600.
You can go all the way down to a 600, which means that there’s a few things that might be on your credit that are affecting it. And you can still qualify. Now, if you’re lower than that, one thing that I wanted to let you know is that Fairway, we have in-house credit improvement that’s no cost to you where we can help you to improve your credit score likely in short order. It won’t take too much time to get it over that level so that you can qualify to buy a home.
So credit, you should not worry about your credit being a barrier to home ownership. We can help people in a lot of circumstances.
The other big thing is that people think they have to have a large down payment in order to buy a home. And that’s actually not true. There are zero down programs. There are down payment assistance programs. If you don’t have the cash saved up to buy a home, don’t let that stop you because there’s ways to get into a home for very little out of your pocket. And we can help you to figure out those options that can best fit within your budget. And the third biggest thing is that people think that their payment’s going to be unaffordable. And actually what you’re going to find is in a lot of cases, your mortgage payment may be the same or less than what you’re paying for rent. And with rents going up so much these days, if you’re renting, you know what I’m talking about, your landlord might’ve tried to renew and raise your rent on you. We’re finding that mortgage payments are actually more affordable in a lot of cases.
And not only that, but your mortgage payment stays the same over time. It’s not going to keep going up. You’re not going to have someone else telling you how much it is. The only thing that affects your mortgage payment over time is your taxes and homeowners insurance, which is part of home ownership. That can affect your payment a little bit over time, but certainly not as much as we’re seeing with rents going up. Call me, we can talk about your options. See if you can buy a home right now, what your payment is going to look like, what your investment is going to look like. And we can talk about those steps that you need to take in order to become a homeowner.
Once again, if you’re watching this and you are a homeowner, forward this video to someone that you know that’s a renter, because they can definitely benefit from this. And I don’t want anyone out there that’s renting to think that they can’t buy a home because the fact of the matter is most people can. Give me a call, text me, or email, and we can talk about the details. And you guys have a great rest of your day.
303-670-0137
