🏡 5 Mortgage Myths That Are Holding You Back from Buying a Home in California

Buying a home is a huge step—but too many people stop themselves before they even begin. Why? Because of outdated information and plain old myths. If you’ve been sitting on the sidelines thinking you can’t afford a home, this post is for you.

As a local mortgage advisor here in Chico, CA, I hear these five myths all the time—and I’m here to bust them wide open:

1. 

You need 20% down to buy a home.

Nope! In California, there are first-time homebuyer programs and down payment assistance options that let you buy with as little as 3% down—or even zero in some cases. Don’t let the old 20% rule keep you from exploring your options.

2. 

You must have perfect credit.

While good credit helps, you don’t need a 750+ score to qualify for a mortgage. FHA loans, VA loans, and other programs are designed for people with credit challenges. I help clients create plans to improve credit if needed—and often, they qualify sooner than they expected.

3. 

Renting is cheaper than buying.

Not always. With rent prices going up in Butte County and beyond, monthly mortgage payments can often be lower than rent—especially when factoring in tax benefits and long-term equity.

4. 

You can’t buy a home if you have student loan debt.

You can. It’s all about how your debt-to-income ratio is structured. I work with clients every day who are managing student loans and still become homeowners. Let’s make a plan that works with your numbers.

5. 

You have to be 100% ready before talking to a lender.

Actually, the sooner you talk to someone like me, the better. Even if you’re 6-12 months away from buying, we can create a personalized plan to get you mortgage-ready. No pressure. Just clarity.

Let’s bust these myths together.

If you’ve been holding off because of one of these myths, let’s talk. I’ll give you the facts, the numbers, and a custom strategy—no cookie-cutter advice. Whether you’re ready now or later, I’m here to help.

📍 Based in Chico, serving all of California

📲 Let’s connect today