Verrado Homes For Sale | 2 Major Myths Holding Back Home Buyers

Located at the foot of the White Tank Mountains, surrounded by high palm trees and over 21 miles of walking trails…Verrado is one of the most beautiful planned communities in the surrounding Phoenix area.   

The developers of Verrado put a lot of focus to paved walking trails meandering through common spaces and the creation of over 70 neighborhood parks framed and surrounded by mountain views and incredible natural views.   

There are many communities that are planned around specific locations to fit budgets and work force…but Verrado is one of the few places where its natural beauty took precedence on the development of an environmentally friendly area for the enjoyment of all the lucky residents    

Homes in Verrado are relatively new, it is one of the largest suburban communities in the Phoenix Metropolitan area. There are many types of homes available, from open floor plans, rustic ranch haciendas to relaxing front-porch models with modern amenities and luxurious finishes. This includes traditional two-story homes, European-style bungalows, single-family desert oases, and trendy lofts.   

Today, I would like to bring your attention to the following: 2 Major Myths Holding Back Home Buyers

Urban Institute recently released a report entitled, “Barriers to Accessing Homeownership,” which revealed that “eighty percent of consumers either are unaware of how much lenders require for a down payment or believe all lenders require a down payment above 5 percent.”

Myth #1: “I Need a 20% Down Payment”

Buyers often overestimate the down payment funds needed to qualify for a home loan. According to the same report: 

“Consumers are often unaware of the option to take out low-down-payment mortgages. Only 19% of consumers believe lenders would make loans with a down payment of 5% or less… While 15% believe lenders require a 20% down payment, and 30% believe lenders expect a 20% down payment.” 

These numbers do not differ much between non-owners and homeowners; 39% of non-owners believe they need more than 20% for a down payment and 30% of homeowners believe they need more than 20% for a down payment. 

READ MORE: http://www.lovingphoenixrealty.com/blog/verrado-homes-sale-2-major-myths-holding-back-home-buyers/


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