4 Myths For First Time Home Buyers - There are plenty of myths out there about buying a home. For a first time home buyer, it can be confusing to separate fact from fiction. We’ve gathered our top tips to help home buyers through the experience. 1. You must have a 20% down payment - Buyers are encouraged to put down 20% or more on their home to avoid paying private mortgage insurance. However, there are loans available that require a much lower down payment, some even as low as 3.5%. 2. Renting is less expensive - While the current trend of renting is popular among young adults, (0 comments)