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FAQs for Buyers

I don’t know if I can afford to buy a home.

There are homes on the market in every price range, it's just a matter of finding what is the right fit for you by isolating what is most important to you about buying a home. Is it the location or the features of a home? Work towards those goals to find the best buy for you.

If you are currently paying rent then most likely you can afford a home. Plus there are tax advantages that are available as a home owner that do not apply to renting.

An experienced Realtor can assist you in connecting with a lender to identify your buying power and start you off on the right foot into the home buying process. The sooner you purchase a home the sooner you will begin to build up equity which will improve your position for appreciation and future purchases in years to come.


I don’t have money saved up for a down payment.

Don't let your lack of savings for a down payment prevent you from investigating the options to purchase a home. There are loan options available to first time buyers that could require as little as 5% down or some even less.

Delaying the purchase of a home while waiting to save your downpayment could end up costing you money by not receiving the financial benefits of homeownership.

For qualified buyers, a VA (Veterans Affairs) or RD (Rural Development) loan could require no down payment at all.


I am concerned that my credit is not good enough to purchase a home.

There are two type of credit issues that could arise, poor credit and no credit. Not having a good credit score should not prevent you from visiting with several lenders to see what options are available. A good lender should be able to assist you in defining a plan to resolve your credit challenges even if it may take a few months to put you on the path to home ownership.

Not having established credit can also be a challenge for prospective buyers but again a good lender should have tips for getting some credit history established.

Not sure how to approach a lender? Contact a Realtor to assist you in getting established with an experienced lender.


I can't afford the home I really want.

Very few consumers can afford to buy their dream home when they purchase their first home. First time buyers may have to make some concessions when they first purchase a home, but going ahead and purchasing will allow you to begin to build equity towards the future home of your dreams.