Home buyers will hear so many myths and rumors about the home buying process that are not just or always true. The reality is that buying a home in today's active and vibrant market is different form buying a home 10 years ago. What was true then is not necessarily true today.
Myth #1 is that you have to have 20% downpayment to purchase a home. Lenders offer conventional loans requiring 3% down or even in some cases $0 down. Special programs such as VA home loans for veterans are available at 100%. Lenders in today's market are and can be flexible based on the buyer's credit score and debt to income ratio.
Myth #2 states that only those with the highest credit rating and scores can apply for a home mortgage. Lenders are in a very competitive market and more willing to work with you and whatever issues you mayhave or had in the past.
Myth #3 is the belief that fixed rate mortgages are the only way to purchase a home. The reality is that the average American home owner only stays in the home for 7 years. Adjustable rate mortgages (ARMs) offer a lower rate than a 15 or 30 year fixed rate mortgage and are worth looking at when you consider speaking with your lender.
Myth #4 says not to use a REALTOR and represent yourself. The Seller pays the commission when you purchase a home and it is always a good idea to have a professional on your side who's primary focus and responsibility is to you and your best interest. These professionals know the market and the pitfalls that could affect you as the Buyer as well as they do this every day not every 7 years.
Myth #5 is that if you can, then you should buy a home right now. In most cases, it does make sense as it allows you to build equity in your home and experience the American dream. One must understand however, that buying a home is not a financial fast track to wealth and as it is the single largest purchase decision that we will make, it should be done wisely.
JP And Associates REALTORS (JPAR) is one of the top 100 independently owned brokerages in the US. A full service real estate brokerage firm specializing in real estate sales and marketing services with multiple offices across the US and expanding quickly. JPAR is also one of Real Trends top 500 Brokerages in the US for volume and sales and in the top 1% in the US for sales.
Our mission is to provide extraordinary services and exceed our clients’ expectations by always committing to the highest levels of professionalism, ethics and standards in the real estate industry.
JP and Associates REALTORS is a real estate company with a solid structure and foundation built around service and productivity. We believe in providing a fun and rewarding environment for all our REALTORS® and therefore always ready to support our REALTORs® Associates in any market and in any condition. All our REALTORs® will always strive to close more transactions in a given year than the average REALTOR®. Our goal is to recruit and retain the most professional, better trained REALTORs Associates in the local market.
If you are interested in a new career in real estate or already have a real estate license but wish to learn more about our company please contact us directly to set up an interview. We offer our agents a 100% commission plan, company leads, training and mentoring and coaching from TOP Producers with no office, desk fees or monthly marketing fees ever. We are a full service brokerage at a transaction fee cost.
At JP And Associates REALTORS we strive to exceed our Clients AND our Associates expectations.
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Office Number: 1 (800) 683-5651
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"I have bought and sold two homes with Pam since moving to Texas. She is amazing and so knows all the areas so well. Her expertise and excellent customer service is second to none. I will contact Pam again when I am ready to sell and buy, she is just that awesome! Thanks Pam for all your excellent help in finding the homes I needed at the time that I needed them. I would recommend Pam to anyone either moving in the area or that has been here for years."