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I wanted to quickly address some major misconceptions about the Phoenix home buying market with you today. These are things that many potential homebuyers take as true, but simply aren’t.
The first is the thought that you need to put 20% down in order to purchase a home. This is just not true. You can actually get into a home for as little as 3% down with an FHA loan. In the Home in Five program, you can even put 0% down out of pocket by using a government grant program.
The other big misconception out there is that you need this crazy high credit score of 750 or higher to purchase a home. In fact, I just read something today that said 54% of loans go to people with FICO scores between 600 and 750. Don’t let that scare you away!
If you’ve had a couple hiccups and your score is in the 600s, don’t be discouraged from buying a home! Give us a call or send us an email today and we’ll be happy to answer any questions or concerns you may have.