Are you under the impression that you need to save up a huge amount of money for a down payment to buy your dream home? Does homeownership feel unattainable? The truth is, these are common myths that could be holding you back from homeownership.

Here at Luminate, we’re here to break that mold and to tell you that now is the perfect time to start building equity so you can enjoy the benefits of homeownership! Here are some quick facts to consider:

  • A larger down payment can lower your monthly mortgage payments and help you avoid mortgage insurance, but it doesn’t have to keep you from owning a home.
  • Your credit score, debt-to-income ratio, and other financial factors may play a more significant role in determining your eligibility for a mortgage.
  • Lowering your down payment doesn’t necessarily mean you’ll pay more interest over the life of the loan. With a shorter loan term, you may actually save money in the long run.
  • You may be able to qualify for down payment assistance programs that can further reduce your upfront costs.

That’s why we encourage you to speak with us so we can fully explore your options. Our team takes the time to understand your specific needs, provides guidance, and will help you make the most of your financial situation.

Don’t let the myth of high down payments hold you back from your dream home. Contact us today to learn more!

Ready to get started?  We’re here to help!

Tim Erickson
P: (652) 451-2273

Mark Henderson
P: (651) 398-3477