Many first-time homebuyers think you need 20% down to buy a home, but that’s not true! With a conventional loan, you can buy a home with as little as 3% down. The 20% down myth comes from private mortgage insurance (PMI), which protects lenders in case of default. So, don’t let the 20% rule hold you back—there are options to get you into your dream home with a lower down payment!

A common myth about buying a home is that your down payment takes care of the closing costs too—but that's not the case! While the down payment goes toward the purchase price of the home, closing costs are a separate set of fees covering things like lender charges, title services, and prepaid taxes or insurance. These typically range from 2% to 5% of the home's price. Planning for both is key to avoiding surprises at closing!

Think you need perfect credit to buy a home? Think again! While credit is important, it’s not the only factor lenders consider. There are plenty of mortgage options for buyers with lower credit scores. For example, FHA loans allow credit scores as low as 580 with just 3.5% down—or even 500 with a larger down payment (depending on the lender). If homeownership is your goal, don’t let less-than-perfect credit hold you back!