There’s a common misconception that buyers have to have 20 percent down to buy a home. And while putting that amount of money down is a great idea, not all of us have that kind of money just lying around.
To assist buyers that need a smaller down payment, lenders offer tons of financing options that require very little money down. These loan programs are the subject of this week’s Getting Real with Real Estate with Olivia and Katie, which you can watch below.
One of the biggest myths about renting a home is that it’s cheaper to rent than to buy. You can check out the reasons why that’s a myth in this article, but the short of it is that even when you rent, you’re still paying a mortgage. The difference, of course, is that you’re paying your landlord’s mortgage and not your own.
We’ve been talking a lot lately about the #PerfectStorm the real estate market is experiencing right now in Fremont County. In case you’ve missed it, it’s a pretty straightforward concept: there’s a lot of inventory, super low interest rates, and rental prices are high.
What all that means is that for many prospective buyers, owning a home can actually be cheaper than renting!