Mortgage Myths Busted! You DON’T Need 20% Down!

by Gemma Peterson

Think You Need 20% Down to Buy a Home? Think Again!

Many people believe they need a huge down payment to buy a home, but that’s simply not true! Here are the real facts:

Common Mortgage Myths

  1. You Need 20% Down – FALSE! Programs like FHA and VA loans allow for low or no down payments.

  2. Your Credit Has to Be Perfect – Nope! Many lenders work with credit scores as low as 580.

  3. Renting is Always Cheaper – Not when you consider rising rent prices and home equity growth.

What Are Your Options?

  • FHA Loans: 3.5% down

  • VA Loans: 0% down (for veterans)

  • Down Payment Assistance (DPA) Programs: Help cover costs for first-time buyers

Still have questions? Contact Florida Homes & Loans today to explore your options!

Categories

Recent Posts

Mortgage Rates Above 7%: Should Buyers Consider an ARM or Rate Buydown?
Mortgage Rates Above 7%: Should Buyers Consider an ARM or Rate Buydown?
Mortgage Rates May Stay Above 7% Through 2027: What Buyers Can Do
Mortgage Rates May Stay Above 7% Through 2027: What Buyers Can Do
Do Homes Lose Value as They Age? Why Older Homes Can Still Be Worth More
Do Homes Lose Value as They Age? Why Older Homes Can Still Be Worth More
Higher Rates, Better Deals? How Buyers Are Finding Opportunities in Today’s Market
Higher Rates, Better Deals? How Buyers Are Finding Opportunities in Today’s Market
What Do the October 2026 Fed Minutes Mean for Florida Homebuyers?
What Do the October 2026 Fed Minutes Mean for Florida Homebuyers?
Top Benefits of Living in Central Florida & the Space Coast
Top Benefits of Living in Central Florida & the Space Coast
Key Real Estate Market Trends in Central Florida & the Space Coast
Key Real Estate Market Trends in Central Florida & the Space Coast
The Benefits of Living in Central Florida and the Space Coast: Lifestyle, Amenities, and Community Highlights
The Benefits of Living in Central Florida and the Space Coast: Lifestyle, Amenities, and Community Highlights
Florida Homes & Loans Inc.: Your Trusted Real Estate Partner in Central Florida and the Space Coast
Florida Homes & Loans Inc.: Your Trusted Real Estate Partner in Central Florida and the Space Coast
Essential Steps for First-Time Homebuyers in Central Florida: Expert Advice from Florida Homes & Loans Inc.
Essential Steps for First-Time Homebuyers in Central Florida: Expert Advice from Florida Homes & Loans Inc.

BUYING MY HOME

Name

Name

Phone*

Phone

Message

Message

By checking this box, I agree by electronic signature to the Electronic Disclosure Consent Agreement; to receive recurring marketing communication from Gemma Peterson, including auto-dialed calls, texts, and artificial/prerecorded voice messages (message frequency varies; data rates may apply; reply "STOP" to opt-out of texts or "HELP" for assistance); and to the Terms of Service and Privacy Policy of this website. Consent not required to make a purchase. I understand that I can call to obtain direct assistance.

By checking this box and submitting this form, I consent to receive marketing emails, telephone calls and text messages from Florida Homes & Loans Inc., including its licensed representatives, at the email address and telephone number I provided. Communications may be sent using automated technology and may include artificial or prerecorded voice messages. Consent is not a condition of purchasing any property, goods or services. Message and data rates may apply. Message frequency varies. Reply STOP to opt out of text messages or HELP for help. You may unsubscribe from marketing emails at any time. I agree to the Privacy Policy and Terms of Use. Your privacy matters. We do not sell your information. By opting in, you may receive real estate and mortgage-related communications from Florida Homes & Loans Inc. You can opt out at any time.

SELLING MY HOME

Name

Name

Phone*

Phone

Message

Message

By checking this box, I agree by electronic signature to the Electronic Disclosure Consent Agreement; to receive recurring marketing communication from Gemma Peterson, including auto-dialed calls, texts, and artificial/prerecorded voice messages (message frequency varies; data rates may apply; reply "STOP" to opt-out of texts or "HELP" for assistance); and to the Terms of Service and Privacy Policy of this website. Consent not required to make a purchase. I understand that I can call to obtain direct assistance.

By checking this box and submitting this form, I consent to receive marketing emails, telephone calls and text messages from Florida Homes & Loans Inc., including its licensed representatives, at the email address and telephone number I provided. Communications may be sent using automated technology and may include artificial or prerecorded voice messages. Consent is not a condition of purchasing any property, goods or services. Message and data rates may apply. Message frequency varies. Reply STOP to opt out of text messages or HELP for help. You may unsubscribe from marketing emails at any time. I agree to the Privacy Policy and Terms of Use. Your privacy matters. We do not sell your information. By opting in, you may receive real estate and mortgage-related communications from Florida Homes & Loans Inc. You can opt out at any time.