Want to buy a home, but need to know if you can afford it? In today’s housing market, many prospective homebuyers still wonder if they need to make a 20 percent down payment. Tim Potempa, President, and Founder of the Potempa Team, recently sat down with Terri Ouellette from the Sonoran Living Show to discuss common real estate myths.
When asked about the 20 percent down payment myth for buying a home, Tim mentioned it was “absolutely false” and explained, “mortgage products are available requiring as low down as 3 percent with many down payment assistance programs available” to assist homebuyers in the initial purchase process. Tim also explained that rents remain at an all-time high while mortgage rates remain at historic lows.
In addition to guiding homebuyers through options, the Potempa team can provide information on programs that can assist with the down payment and mortgage structure once they meet the qualification requirements. Tim explained that many resources and options are available if you are concerned that you need more funding to make your purchase. Tim says, “Call us first, the worst thing that’s going to happen is you find that dream home, and you’re not qualified.”
Home Loan Solutions with The Potempa Team
In the idyllic Arizona landscape, people from across the United States are looking for a change of pace. So if you’re interested in seeing what you could qualify for, get pre-approved online or reach out to the Potempa Team directly to get started today.