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Home Buying Myths | Oahu, HI

Misinformation About Buying Real Estate

With so much information out there available about buying residential real estate, I’m surprised that I hear some of the same misinformation over and over again. Hi, I’m Fawn Bertram with Home by Fawn and Hawaii Life. I’m going to share with you the top three myths about buying residential real estate.

Myth #1

Myth #1, I need 20% down to buy a home. Here’s the deal, there are loan programs available from 0% down. Most FHA loans require only 3.5% to 4% and conventional loans as little as 3% to 5%. 20% down is great if you can do it, but if you can’t, that does not mean you can’t buy a home right now.

Myth #2

Myth #2, I’ll never qualify to buy a home. The question is, how do you know? People are often shocked they can qualify to buy a home now. You don’t need to have 800 as your credit score to qualify for a home mortgage. Waiting only increases the cost of homeownership. Speak to a lender to get clarity and who will find the best program for you. And if you can’t qualify, they can help you create a plan to do so in the shortest amount of time. I’m happy to make a recommendation to a few good lenders if you need it.

Myth #3

Myth #3, all agents are the same. This could not be further from the truth. As in every professional organization, there are those who are committed to excellence and devote time and energy to being highly skilled problem solvers. Others simply do the minimum to get by. Working with a full-time agent with an extensive marketing plan and strong negotiation skills will ultimately put more money in your pocket in less time.

More Information

Call me today, shoot me a text, or give me a call, 808-439-1077. I would love to help answer any questions you have. Stay tuned or visit my website or Youtube channel with more helpful tips on the home buying and selling process. Like, comment and share with anyone you know who may benefit from these videos. Fawn Bertram with Homes by Fawn. Make it a great home buying and selling day.

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