Slaying Myths About Buying A Home
Slaying myths about buying a home in the Northwest Valley area, including Glendale, Peoria, and North Phoenix. Many potential first time home buyers believe they have to have a perfect credit score and 15 to 20% for a down payment in order to buy a house in the Northwest Valley.
Hi, Shawna Kurowski with the Desert Charm Living Real Estate Team here to arm you with the information about what’s really going on in the housing market to ensure you become king or queen of your castle.
Down Payment and FICO Score
The average down payment for first time home buyers is only 6%. There are many down payment assistance programs available today. Find out if you qualify. The average FICO score for an approved FHA loan is only 677. That’s the average. Despite mortgage interest rates being over 4%, they’re still at historic lows. Prices are expected to increase over the next year so lock in your housing costs now, before they go up.
Rising Rents
Listen to this, this is crazy and should scare you if you currently rent. According to a Rent.com survey, 88% of property managers raised rents in the last year and 53% say they would rather bring in a new tenant at a higher rate, than renew a lease with a current tenant that they already know. Protect your hard-earned money. Now that you know that you don’t need an 800 credit score and 20% down and interest rates are still low, you need to call us today so that we could talk. Let us help you find your castle.
Have a great day everyone 🙂 Thanks for watching, see you soon.
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Shawna Kurowski
Desert Charm Living Real Estate Team
Call or Text: 602-529-3380
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Key Mortgage Considerations When Buying a Home in The Northwest Valley, AZ
Key Credit Considerations When Buying A Home in The Northwest Valley, AZ:
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Buying a Northwest Valley AZ home should be fun, hassle-free, and a positive experience. We’ll help you sell or buy your perfect Peoria, Glendale or North Phoenix area home, avoid mistakes that could cost you thousands, and save time in the process.