Misconceptions abound!

MYTH #1

I have to save at least 5% (or 10%, or 20%) to be able to buy a new home... NO.

• 100% Financing with Sovereign's Rural Housing or Non-Profit Grant Financing Plans
• ZERO Downpayment
• NO Work Equity
• NO Mortgage Insurance
• Lower Rates than our FHA 2-1 Buydown
• Lower Qualifying Ratios than FHA or New FHA financing
• Only 3% down payment required
• Combine with other special financing programs, and get into a new home for virtually zero total cash - often less than $100!

MYTH#2

I have to have excellent credit to qualify for a mortgage... NO.

• Mortgage lenders have a variety of programs to help nearly everyone buy a new home. Call or e-mail us and we will help you find the financing program for you.

MYTH #3

If my credit is bad, I won't be able to qualify for a loan or I'll have to pay a much higher interest rate... NO.

• Not necessarily. Many with less than pristine credit can qualify for market rates. Our special financing also helps you get a lower rate. If your credit is really, really bad, you may pay a higher rate. But at least you can get into a home, and refinance in a year or two at a better rate. Then you can take advantage of the tax breaks and appreciation of homeownership.

MYTH #4

Work Equity is the only way I can make up for not having enough down payment... NO.

Check our Sections on:

• 100% Financing Programs
• Grants. We will work with you in many creative ways to help you into your new home.

MYTH #5

Buying a used home is easier, more affordable and better than buying a new one... NO.

• Builders can offer you financing advantages that private individuals selling their homes cannot, giving you a lower interest rate and lower monthly payments. Specials offered by builders give you added value. The products and materials in new homes are superior giving you better energy efficiency. Designed for today's lifestyles, the new home offers a variety of floor plans from which to choose. Owner selections and options allow you to "customize" your new home to fit your needs and tastes. Full builder warranties and manufacturer warranties on the products are included. A new home is a joy on move-in day.

For more information and to find out how much home you can afford, visit one of our models, contact us via the web, or call Norie Fox  (614) 539-8031