Buying a home is a huge deal. Whether it’s a first or third home, this purchase isn’t one that can be exactly returned for a new one. It’s meant to be something that endures and is cherished for many years if not the rest of your life, so keep the three following misconceptions in mind when buying a new home:

1. “I don’t have good enough credit”: Although a better credit rating will probably result in improved interest and lending rates, there are still options out there to help you buy a home. Realtors who use real estate technology will likely be in a better position to help you find those options.
2. “Who can afford to buy a home? I can’t!”: Well, you can’t if that’s what you believe but don’t rule our buying a new home until you have exhausted all of the options. Work with a realtor to find homes within your budget and you might be surprised at the options available.
3. “I don’t have the down payment”: Work with a realtor who focuses on transparency and check again. There are options that can reduce the down payment and he or she probably knows of them.

To learn more about technology meant to simplify the home buying process, contact DotLoop today.

Published on July 2, 2012