We’re all familiar with the path you’re supposed to follow as an adult.

First you head off to college so that you can get a job. After graduation, you start working and living on your own for the first time. After a couple of years of saving up, it’s time to buy a home so that you can start to settle down.

It’s true that buying property is one of life’s biggest commitments, and one that may seem out of reach for plenty of people. But there are also many myths and misconceptions surrounding the process that can hold potential home buyers back from exploring their options and ultimately making an investment they might treasure.

Here are seven of the most pervasive myths about buying a home:

1. 20 % down is required.

False. Today you can buy a home with as low as 0 – 3% down meeting certain criteria.

2. Must have perfect credit.

False. We have a program that will go as low as 580 score if the loan makes sense.

3. I can’t buy for 7 years because I filed bankruptcy.

False. You can buy after 2 years of bankruptcy with re-established credit

4. I had a foreclosure so I have to wait 7 years.

False. You can buy after 3 years of foreclosure in most cases.

With proper direction and a step-by-step plan of action, CosmoLends has helped a myriad of families, individuals and investors finance the homes and investment properties of their choosing.

5. I don’t have traditional credit so I can’t buy.

False. We have programs that allow you to use alternative credit like rent and utility bills etc.

6. Just graduated college so I have to be at my job a year.

False. As long as your job is in the same field of study we count the schooling as work history immediately.

7. I don’t have money for closing costs and down payment.

We have strategies for how to get closing costs money.

With proper direction and a step-by-step plan of action, CosmoLends has helped countless families, individuals and investors finance homes and investment properties. They can do the same for you.

Take the first step toward owning your own home. Call CosmoLends at 216.387.1003.

CosmoLends is an Equal Housing Lender; NMLS# 282430