If you are renting, you are getting left behind. This may sound harsh, but did you know that the average homeowner has a net worth that is forty times higher than that of a renter? 

Despite the high interest rates and expensive housing market, now is still a great time to buy a home, and it can be done with little to no capital put down.

According to Apartment List, two-thirds of millennial renters say they don’t have enough money saved for a down payment on a home purchase, and 45% of renters believe that they need a down payment of 20% or more to purchase a home, according to the latest survey from the National Association of Realtors. 

The truth is that a home can be mortgaged with 0% to 5% down, and there are many options out there to accomplish this.

Some renters also fear that their credit scores are not high enough to be approved for a mortgage. This can be true in some circumstances, but there is good news on this front as well. There are tools out there to help clients increase their credit score with minimal capital needed. 

This is where a top Mortgage Advisor team comes in handy. They will walk you through a step by step process of rebounding your scores to get you to a point where you can buy your dream home and raise your net worth.

Rents will likely continue to rise! Don’t miss your chance to start building wealth through homeownership today.

About the Expert:

Donnie Eden is a licensed mortgage planner and the owner of Prosperity Mortgage Advisors in White House, Tennessee, founded in 2015. He has his BA in Economics from The University of Tennessee and has helped over 5,000 families so far throughout his career. 

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