Buying a home is an important step in building a secure financial future. Don't let common misconceptions keep you from the personal and financial rewards of homeownership.
Myth #1 - "I don't have enough money for a down payment." In the past, buying a home required a 20% down payment. But not today! In fact, 7 out of 10 first-time home-buyers make a down payment of 10% or less, sometimes none at all! Wells Fargo has loan programs that can help you buy a home without a large down payment.
Myth #2 - "I have less-than-perfect credit, so I can't get a mortgage." A less-than-perfect credit history doesn't have to stand in your way of reaching your homeownership goals. Wells Fargo has helped thousands of individuals move beyond credit challenges into homes of their own.
Myth #3 - "It's less expensive to rent, and now may not be the right time to buy." You may be surprised how much home you can buy for the same rent check your sending in now, especially when you consider the tax advantages of homeownership. Because home prices historically increase (and only occasionally decline), buying as soon as you're able can be a more effective strategy than trying to time the real estate market. As a homeowner, you'll be building wealth as your home equity grows.
Myth #4 - "The whole mortgage process is too long and complicated." Wells Fargo and I want to make buying your home as easy as possible. I will help you through each step of the financing process, so you'll never have to go it alone.
Myth #5 - "I won't be able to fit a mortgage in my budget." My goal is to help you succeed financially. I will carefully review your loan options with you and help you choose the loan that's right for you. With a loan that fits your budget and your financial goals, your home will be a powerful tool in building a secure future for you and your family.
To discuss the right loan that fits into your plan to succeed financially, contact me at 301-843-JOHN (5646) or 301-373-4408. Send me an email with your questions or concerns at John.Woodburn@wellsfargo.com .
John Woodburn
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Credit in today's changing climate is a major issue. Although I never could understand FICO's scoring system (and I went to a class!). 8-)
The past few years of 'a cell phone and a pulse and WHAM! here's your mortgage' are over. Now the industry in general is more cautious. To tell the truth, they never should have relaxed the rules. Unfortunately, now the homeowners must pay with the loss of their homes. It's a shame.
Thanks for the post John. I think the potential homeowners out there now must be lead through what they consider a minefield. I am sure everyone knows of someone that is losing their home. But if we keep in mind what you stated and think outside the box, the future will look bright in 2008.
John, do I have your permission to use your 'Five Myths' in a seminar I am conducting tomorrow in Camden, NJ? It is a credit education seminar, but most people want to purchase a home.