Centra Blog

Increasing your Financial IQ

Homebuying is easier than you think!

Home sweet home welcome mat

When it comes to buying a home, it’s easy to get overwhelmed. Terms like down payments, interest rates,  and pre-approvals might make you want to avoid the process altogether. Even though homebuying might have a reputation for being hard, buying a home is easier than you think!

1. It might not require as much money as you think.

Down payments are a major reason why people think they can’t get a mortgage loan to buy a home. We’re here to tell you that you probably don’t need as much as you think! In today’s market, there are so many options that are available when financing a home, including several options that make it easy to buy with little or no money down.

A couple examples are:

  • Conventional loans that go as low as 0% down
  • Down payment assistance programs that will help you get approved with no money down
  • Government assistance programs like FHA and VA loans 

2. Your credit score might be good enough, or close to it!

Even if you think you won’t qualify, you should consult with a Mortgage Loan Officer (MLO). These experts can answer all your questions and talk through your options. Simply take the first step to apply for pre-approval, and you’ll be matched up with an MLO near you. 

3. Agents are there to help!

A real estate agent is your best research when you’re navigating the housing market. Agents can help you navigate any challenges you encounter along the way, and their expertise will ultimately save you loads of time.

Even if you’re slightly considering buying, talk to an agent. It doesn’t matter if you’re still a year away from starting the process, a five-minute conversation can do wonders. The agent can keep an eye out for the perfect house and opportunity for you to buy. 

Whether you’re looking to buy now or in the future, the process is much easier than you think. Start the conversation today: call a real estate agent, talk with a Mortgage Loan Officer, and begin your journey to homeownership.