For many, the dream of owning a home feels out of reach, especially when myths and misinformation cloud the process. These misconceptions can be even more daunting for Deaf buyers who may not have access to accurate, accessible information. The truth? Homeownership is possible—and more attainable than you might think.
In this guide, we’ll tackle the top myths about buying a home and empower Deaf buyers with the knowledge and tools to confidently begin their journey to homeownership.
Myth 1: You Need a Huge Down Payment
One of the most common myths is that you need 20% of the home’s price saved up before you can buy. While a larger down payment can reduce your monthly mortgage, many programs allow you to purchase a home with as little as 3% down—or even no money down in some cases.
Solutions for Deaf Buyers:
Myth 2: You Must Have Perfect Credit
While having good credit helps, you don’t need a perfect score to qualify for a mortgage. Many lenders work with buyers who have fair credit, and some government-backed loans, like FHA loans, are designed for those with lower credit scores.
Tips for Deaf Buyers:
Myth 3: Renting Is Always Cheaper
Renting might seem like the more affordable option, but over time, it can cost more than owning a home. With a mortgage, you’re building equity—essentially paying yourself—while rent payments go to your landlord.
Considerations for Deaf Buyers:
Myth 4: The Home-Buying Process Is Too Complicated
The process of buying a home may seem overwhelming, but with the right support and resources, it’s manageable. Working with a Deaf-friendly real estate agent ensures clear communication and guidance at every step.
How to Simplify the Process:
Use Visual Tools: Many agents provide video walkthroughs and visual aids to explain complex steps.
Myth 5: You Can’t Buy a Home if You’re Self-Employed
If you’re self-employed, you may have heard it’s impossible to get a mortgage. While the process can be a bit more involved, it’s far from impossible. Lenders typically require additional documentation, like tax returns and profit-and-loss statements, to verify your income.
Tips for Deaf Buyers Who Are Self-Employed:
Empower Yourself with Knowledge
Buying a home is one of the biggest investments you’ll make, and understanding the facts is key to making informed decisions. Don’t let myths hold you back from achieving your dream of homeownership.
Resources to Help You Get Started
We’ve compiled tools and resources to make your home-buying journey smoother and more accessible:
Ready to Start Your Journey?
You don’t need perfect credit or a huge down payment to buy a home. With the right resources and support, homeownership is within your reach.
Take the first step today:
