How difficult is it really to buy a home in Tucson, Marana, or Oro Valley? Does your FICO score have to be the best? Do you really need a 20% down payment?
The good news is that it’s easier than you may think to buy a home. Your FICO score doesn’t have to be perfect. The average down payment you need is much lower than 20%, and mortgage rates are still making homes very affordable. On top of that, home buying may be more affordable than renting. The vast majority of renters have faced increased rent payments in the last year.
Check out this infographic that slays a few myths about buying a home and shows you why you may want to make the decision to buy a home this year.
Here are some highlights from the infographic below:
- The average down payment for first-time homebuyers is only 6%!
- Despite mortgage interest rates being over 4%, rates are still below historic numbers.
- 88% of property managers raised their rents in the last 12 months!
- The credit score requirements for mortgage approval continue to fall.
This is all great news for home buyers. What do you think? Are you ready to buy a home in the Tucson area? (Check out this Oro Valley Real Estate Overview.)
Contact me today! I’d love to show you your dream home!