Lenders evaluate Home Loan Applications a lot differently today than they did even 10 years ago. And even more has changed in the last 20 years. What used to close the door to Homeownership may not be a factor today.
Here are some common homeownership myths:
Myth: You need great credit to become a homeowner.
Fact: You may still be able to buy a Home with less-than-perfect credit. And remember, you can improve your credit over time.
Myth: You need to put 20% down to buy a home.
Fact: There are many types of Home Loan Products and Programs that allow low and no Down Payments. But remember to factor in other costs such as Closing Costs, Property Taxes, Moving Expenses, and Repairs.
Myth: You can't buy a home in the United States if you're not a citizen.
Fact: If you're a Legal Resident, you can purchase a home in the United States.
Myth: If you don't have a Bank Account or Credit Cards, you can't qualify for a Home Loan.
Fact: Having a Bank Account is always a good idea and helps you establish Credit. However, lenders can approve you for a Home Loan even if you don't have a Bank Account or Credit Cards. You'll likely need to keep records showing a history of payments you've made for items such as Rent, Utilities, and Car Payments.
You can eliminate all your DEBT, Real Estate loans included, in 7-10 years or less.
Most people stay in DEBT much longer than they need to. That's because they believe a host of Myths about borrowing that keep them shackled to lenders for decades longer than necessary, which in turn robs them of Wealth and Security later on.
Myths like:
• To get out of DEBT quickly I'd have to make a Million dollars!
• I'd have to win the lottery to be able to pay all this off in a short amount of time.
• My Home loan is a good Investment, so the interest I pay is worth it.
• I need my Home loan as a Tax-write off. If I pay it off I won't be able to afford my Taxes.
All of these ideas are false. If you believe them it's costing you thousands of dollars in compound Interest that could be used to create a generous Retirement fund and build massive amounts of Wealth instead.
Using Money Merge Account software it is mathematically feasible for anyone, no matter how bad their DEBT-load is, to get completely out of DEBT in seven to ten years or less, including a 30-year mortgage.
Why not become DEBT-free and pay yourself compound Interest instead of giving it to Creditors? Then without taking on any additional risk or needing any more money you can be DEBT-free 21 years earlier than you would have been AND with a lot more money in your pocket!
See how to make sense of this works!
As your Real Estate Asset Manager, Roger Perris believes the key to success is Honesty, Integrity, Professionalism, and Service. He will provide you the real service you deserve and then some. He can handle the most complicated transaction.
