You’re thinking about buying a home. Congratulations! Purchasing your new place can be an exciting adventure, and first-time home buyers especially can enjoy the experience while facing a large task ahead of them. While modern technology and improved communications have helped us as a species to gather and share information faster than ever, many people are still in the gray when it comes to home buying. The sheer amount of information (and misinformation) can affect your entire experience, which is why it helps to seek out a professional real estate agent for assistance. Skrabut Realty is proud to be your go-to team for buying a house in Oakland County. Our Michigan real estate company is here to work hard for our clients 24/7 to ensure an optimal outcome for everyone involved. You’re about to start the next chapter in your life, and our team is here to help every step of the way!

Part of the process to make lives easier for our clients is explaining any uncertainties to dissuade doubt. Read on to learn about a few myths surrounding buying a house, then be sure to contact our Realtors® to get started!

Credit Equals Credibility

One facet that discourages many first-time home buyers from even beginning the process is the emphasis that is placed on credit scores. The thinking is that if you don’t have great credit, you will not be trusted with a home loan. It is true that your credit score can help to make life easier. Lower scores will tend to result in higher interest rates and other fees such as private mortgage insurance (PMI). That being said, though, it’s important to remember that buying a home is still possible, even if your score is down into the 580s. With numerous loan types available, the power is in the consumer’s hands for how to best acquire property. As your local Realtors, we’ll work hard to develop a personalized plan that meets your unique needs, including credit scores and down payments.

While credit can be an intimidating topic, it can be helpful to know that you can fix your credit. Paying cards down, making payments on time, and minimizing open lines of credit can prove very helpful in boosting your score. There are many affordable or free sources that work to help with credit woes, and short gains you make now can pay big when it comes time to close.

Down for Down Payments

Acquiring enough money to make the down payment on a new place can seem like a daunting task. Even if you are very fiscally responsible, saving up 20 percent of a home’s value to pay a fifth of the price outright can be a major challenge. This requirement is set forth by conventional loan options, but other choices are available. Individuals can benefit from different loan requirements and incentives for first-time home buyers. The down payment for your home can be as low as 3.5 percent or oven zero if qualifications are met. Our real estate agents will work hard to deliver a comprehensive set of options to optimize your buying experience.

When it comes to buying a house in Oakland County, you may be faced with a number of logistical and financial challenges. Next time, we’ll look into more myths surrounding the process and how it is easier to buy than many people realize. Purchasing a home is often one of the biggest investments an individual or couple can make, so can prove beneficial to work with a real estate company that cares deeply for your results. Skrabut Realty is proud to be your go-to team in Michigan, delivering quality results to the best of our abilities. Contact us today to learn more or to begin your home buying adventure!