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Halloween Is Not Really Scary - Just Like Buying A House
November 21, 2019 at 7:00am | Mac Rogers
all know Halloween is not really as scary it would seem right? For most people it is actually down right fun. I’m here to tell you that buying a home should be the same thing. There’s nothing scary or spooky about the process.
Hi my name is Mac Rogers. Broker/owner of Albert Rogers Realty here in Castro Valley California. I talk to a lot of prospective home buyers and a lot of them are just down right scared or misinformed about the whole home buying process.
Here are 5 myths & facts that will hopefully get rid of some of those fears you might have. (“Statistics come from NAR, MBA, Trulia, Corelogic, Ellie Mae)
Number 1 - I don’t have 20% down. 71% of home buyers put down 20% or less.
Number 2 – I don’t have 800 credit scores. The average credit score on approved loans is 737.
Number 3 – Getting approved for a mortgage is hard. 78.1% of loan applications were approved last month.
Number 4 – Mortgage rates are too high. The average 30 year fixed-rate mortgage dropped to 3.93% in September. This is near historical lows.
Number 5 – This is for current home owners that would like to move-up. “I don’t have enough equity in my home”. 96.2% of homeowners in the US have positive equity.
Hopefully this information helps you out. If you have any questions please leave them below. Have a great day & I’ll see you at my next open house.
Mac Rogers Broker