Are these rumors keeping you from being a homeowner?
08/21/2015 | Author: Summer Mandell
Many people get misinformation about the homebuying process. Don’t let false rumors like these keep you from buying your own property:
“You can’t buy property if you have a history of bad credit.”
You don’t need a perfect credit score to qualify for a loan, and you can take steps to repair your credit that will put you on the path to homeownership. Talk to a Texas REALTOR® about your current financial situation to determine a realistic timeline for your home purchase.
“You need a 20% downpayment to buy a home.”
There are many programs and mortgage loans available for homebuyers who have less than 20% for a downpayment or no money for closing costs. Contact a Texas REALTOR® to learn about programs you may qualify for.
“You can't buy property in Texas if you're not a U.S. citizen.”
Texas properties have been desirable investments for international buyers for years. In fact, international buyers accounted for $11.06 billion in home sales in the state between March 2013 and March 2014. There are Texas REALTORS® who specialize in working with international buyers and can help you understand the process.
Heard other rumors you’re not sure about? Find a Texas REALTOR® to help you figure out the realities of purchasing your own property in Texas.
The material provided here is for informational purposes only and is not intended and should not be considered as legal advice for your particular matter. You should contact your attorney to obtain advice with respect to any particular issue or problem. Applicability of the legal principles discussed in this material may differ substantially in individual situations.
While the Texas Association of REALTORS® has used reasonable efforts in collecting and preparing materials included here, due to the rapidly changing nature of the real estate marketplace and the law, and our reliance on information provided by outside sources, the Texas Association of REALTORS® makes no representation, warranty, or guarantee of the accuracy or reliability of any information provided here or elsewhere on texasrealestate.com. Any legal or other information found here, on texasrealestate.com, or at other sites to which we link, should be verified before it is relied upon.