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Understanding Home Buying Myths in Chandler Arizona at times can be difficult to sort through. Although the internet can be a great resource for a variety of information, a lot of that information is incorrect. One of the most important and expensive decisions in your life, home buying, tends to circulate a lot of misinformation. Most of that misinformation is in regards to how much of a down payment you need or what your credit score needs to be. Let’s go over the real facts about buying a home and knock those myths out, so they don’t hinder your ability to purchase!
1. THE FIRST STEP IS SEARCHING FOR A HOME- Get pre-qualified before heading out to look at properties. You want to be looking at properties you are qualified to purchase.
2) YOU DON’T NEED A REAL ESTATE AGENT- For starts, when buying a home, 99% of the time the buyer’s agent gets paid by the seller. Therefore you’re getting to use the services of a real estate agent for free. Having a real estate agent on your side means you’ll get to see homes that aren’t as readily available on public searches, you avoid outdated listings and scammers (there are lots of them), and you have protection when it comes to navigating the legalities of contracts and buying a home. Why wouldn’t you want an awesome negotiator working to ensure you get the best from the transaction? For FREE!
3) YOU CAN’T BUY A HOME WITH BAD CREDIT- Fortunately for some, this is a myth. Even if you do not have superior credit it may be advantageous for you to consult with a mortgage lender. They will educate you on the many programs available to you and also provide you with a credit repair professional if needed.
4) YOUR DOWN PAYMENT HAS TO BE 20%- Not at all! An FHA loan only requires 3.5% while a conventional only requires 5%. There are a lot of programs that can potentially help you with down payment assistance or be a 0% down mortgage. USDA and VA loans 0% down programs.
5)DOWN PAYMENTS ARE THE ONLY UPFRONT COST- Consult with a professional real estate agent to understand all costs.
Chandler’s housing market is hot hot hot!! And there are many reasons that contribute to this thriving city. The affordability,  A-rated school district, family-oriented, safe, a booming technology sector, and close proximity to everything valley-wide which also includes Sky Harbor Airport. Living in Chandler offers residents a suburban feel and most residents own their homes. Living in Chandler Arizona you will have your choice of older neighborhoods which most houses have their own unique look and offer NO HOA to newer communities that have upscale modern floor plans, some of which are gated, along with desirable amenities that can include a golf course, clubhouses, fitness centers and more!! Are you thinking about buying a house in Chandler AZ?