Mythbusters
"Renting and owning are basically the same—you're paying to live somewhere."
When you rent, your payment covers today. When you own, your payment helps build tomorrow. Each mortgage payment increases your equity — the part of your home you truly own — which can grow into long-term wealth and stability. The shift isn’t just where you live, but how your money works for you.
“I need perfect credit or a big income to qualify for a mortgage.”
Most first-time buyers don’t start with perfect credit or high salaries. What matters is understanding your options, improving where you can, and finding programs that meet you where you are. Small steps — like checking your credit and setting savings goals — can open doors faster than you might expect.
“I'll never be able to save enough for a down payment."
You don’t have to do it alone. Local programs like FAMboost™ and other forms of down payment support are designed to make homeownership achievable for more people. The key is knowing what’s available and building a plan that fits your life.
"I need 20% down to buy a home"
Putting 20% down — meaning 20% of the home’s price — can lower your monthly costs and help you avoid an extra monthly insurance fee (called PMI). But many first-time buyers purchase successfully with much less.
“The process is too complicated to handle."
It can feel overwhelming, but having the right team — a lender, realtor, and local support network — makes it manageable and even exciting.
“If I can't afford my dream home, I shouldn't buy one."
Your first home doesn’t have to be your forever home. It’s often a stepping stone that helps you build wealth and stability over time.
"Once I buy a home, I’m on my own."
You’re not. Homeownership can feel like a solo journey, but you’re part of a much larger community. There are local resources, experts, and neighbors who’ve been right where you are — and who want to help you succeed. Through FAMforward, you can connect with guidance, workshops, and people who understand the ups and downs of owning a home.