“I don’t have enough money to buy a home.” As a real estate pro, I hear this all the time from first-time buyers. Many assume they need a hefty 10%, 15%, or even 20% down—or a giant pile of cash like $20,000 or $30,000 just to get in the door. Spoiler alert: That’s not the full story. Let’s clear up the confusion and show you why homeownership might be closer than you think.
Where Does This Myth Come From?
The idea that you need a fortune to buy a home often stems from:
- A casual comment from a friend or family member.
- A bank tossing out a loan estimate with a big down payment number.
- Plain old misinformation floating around.
When buyers see a daunting figure on paper, they panic, assume it’s game over, and go back to renting. But here’s the thing: That high number doesn’t mean homeownership is impossible—it just means you haven’t seen all your options yet.
The Real Deal: You’ve Got Choices
If a bank says you need a massive down payment, it’s not because you can’t buy—it’s because they’re limited to certain loan products. Many don’t tap into down payment assistance programs (think grants or bonds from local, county, or state agencies) or account for seller-paid closing costs. Here’s the truth:
- Some loans require just 3% to 3.5% down.
- Assistance programs can cover your entire down payment.
- Sellers can pick up all or most of your closing costs, slashing what you need upfront.
Suddenly, that “huge lump sum” shrinks to something way more doable.
Keep an Open Mind—It’s Your Key In
The biggest trap? Writing off homeownership without exploring what’s out there. Buying a home isn’t one-size-fits-all—there are creative ways to make it work for your budget. That’s where the right team comes in. This business thrives on trust and relationships, and my goal is to find you a path to owning a home with little to no cash out of pocket. All it takes is a willingness to take that first step.
Let’s Make It Happen
Think you’re priced out because you don’t have a big savings account? Let’s talk. There’s more than one way to unlock the door to homeownership—and I’m here to show you how it’s possible for you.
Ready to see what you can afford? Contact Us today—I’ll help you turn “someday” into “right now”!