The warmer months bring many consumers on the hunt for the perfect home. However, it is surprising the number of myths that many homebuyers think before stepping into our offices. Let us help sort out the facts from the fiction.

Myth – All home improvements add value.
The Truth – Not all home improvements add value to your home. Some could increase the value and marketability depending on what is being done. There are a lot of things to consider when adding home improvements, what is appealing today may not have the same value 10 years from now.

Myth – Renting is always cheaper than buying.
The Truth – Renting can be cheaper in the short-term; however, buying offers a long-term solution that provides owners with appreciation in their investment.

Myth – You need a perfect credit score to buy a home.
The Truth – While a good credit score helps, there are loan programs for buyers with less-than perfect scores.

Myth – All lenders offer the same rates.
The Truth – Mortgage rates fluctuate depending on the market and vary amongst mortgage companies. It is always best to shop around and ask your lender is they offer any rate reductions to help.

Our best piece of advice is to not believe everything you hear when it comes to owning or buying a home. First Savings Bank offers several experienced and knowledgeable mortgage lenders who invite you to call with any questions during your homeownership journey. Reach out to our team today by calling 1-833-372-4968!