Did You Know? Learn about different real estate ways

📘 Table of Contents – 25 Real Estate Facts

# 1 – Did You Know? Buy a House for 3% Down

Short Answer: Yes — some loan programs let you get started with just 3% down.

Long Answer: FHA and conventional loan programs allow qualified buyers to purchase homes with as little as 3% down. This makes homeownership accessible without needing to save up tens of thousands of dollars. It’s a great option for first-time buyers or those with limited savings. You will need to have funds for the inspection, possibly the appraisal, and lender added fees that the seller will not cover for you.

# 2 – Did You Know? Rent Might Be More Than a Mortgage

Short Answer: In many markets, rent exceeds what a monthly mortgage would cost.

Long Answer: It’s not uncommon for renters to be paying more each month than they would if they owned a similar home. With mortgage interest rates and housing prices varying, it’s worth comparing your rent to potential mortgage payments — you might be surprised at how much you could save.

# 3 – Did You Know? You Don’t Need Perfect Credit

Short Answer: Most loans accept scores as low as 580 — and some even lower.

Long Answer: While better credit gets you better rates, many loan programs are designed to help buyers with fair credit (usually 580+). FHA loans, for instance, offer options for buyers who are rebuilding their credit. You may still qualify even with a few dings on your report.

# 4 – Did You Know? Sellers Can Pay Your Closing Costs

Short Answer: Yes — it’s called a seller concession, and it can save you thousands.

Long Answer: In many deals, buyers negotiate for sellers to cover part (or all) of their closing costs. These costs can be 2–5% of the purchase price. Asking for a seller credit can help you get into a home with less cash upfront, especially if you’re using a low down payment loan. If you are using a real estate agent that specifically works with buyers, ask them. You won’t know until you ask.

# 5 – Did You Know? Use Gift Funds for a Down Payment

Short Answer: Family members can help you buy a home by gifting money toward the purchase.

Long Answer: Many loan programs allow down payment money to come from relatives, employers, or even close friends. You’ll typically need a gift letter and documentation that the funds were not a loan. This can make homeownership possible even if your own savings are limited.

# 6 – Did You Know? Sell a House As-Is

Short Answer: You don’t have to fix everything before selling.

Long Answer: Selling your home ‘as-is’ means you don’t make repairs or upgrades beforehand. It’s ideal for sellers who want to move fast or skip renovation costs. Just know you may need to price accordingly or offer inspection transparency to attract buyers.

# 7 – Did You Know? Refinance After 6 Months

Short Answer: Some lenders allow you to refinance your home as early as six months in.

Long Answer: If you’ve improved your credit or rates have dropped, refinancing shortly after purchase could lower your monthly payments. Always check your lender’s specific seasoning period and potential closing costs. In many cases, you shouldn’t refinance unless your interest rate is going to drop by a minimum of 1.5%, the more the better.

# 8 – Did You Know? Self-Employed Can Qualify

Short Answer: Business owners can get mortgages too — it just takes the right paperwork.

Long Answer: If you’re self-employed, lenders typically want 1–2 years of tax returns, profit/loss statements, and consistent income. Bank statement loans and alternative documentation programs can help too. Preparation is key. Having them ready before you begin looking for homes is very efficient as it doesn’t make anyone have to wait while you gather them.

# 9 – Did You Know? Use 401(k) for Real Estate

Short Answer: Yes, you can — and you might not even pay penalties.

Long Answer: Options like self-directed IRAs or borrowing from your 401(k) allow you to tap into retirement funds for real estate investing. Always consult a financial advisor to ensure you comply with rules and understand the risks.

# 10 – Did You Know? Down Payment Assistance Exists

Short Answer: Local, state, and federal programs can help cover your down payment.

Long Answer: Many cities and counties offer grants or low-interest loans for first-time homebuyers. Some don’t even require repayment unless you sell or refinance. These programs can be a great boost toward buying your first home.

# 11 – Did You Know? Buy with 0% Down

Short Answer: VA and USDA loans both offer 100% financing.

Long Answer: Veterans can qualify for VA loans, and rural buyers may be eligible for USDA loans — both requiring zero money down. If you meet the qualifications, you can become a homeowner without a big upfront investment. Some USDA loans can be obtained with as little as $800.00 for outside closing costs.

# 12 – Did You Know? House Hack with Multi-Family

Short Answer: Buy a multifamily, live in one unit, and rent the rest.

Long Answer: This strategy is known as ‘house hacking.’ It allows you to offset or eliminate your own housing expenses by renting out the additional units. FHA even allows 3.5% down on 2–4 unit properties if you live in one unit.

# 13 – Did You Know? Buy After Bankruptcy

Short Answer: You may only need to wait 1–2 years to qualify again.

Long Answer: After a Chapter 7 or 13 bankruptcy, buyers can often qualify for FHA loans after a short waiting period — as little as 12 to 24 months. Keep your credit clean post-bankruptcy and work with a lender experienced in these cases.

# 14 – Did You Know? Lock Your Rate Before Closing

Short Answer: Many lenders let you lock in a rate to protect from increases.

Long Answer: Rate locks secure your interest rate for a set period — often 30 to 60 days — while you shop or complete your purchase. This helps protect you from rising rates and gives peace of mind.

# 15 – Did You Know? Winter Can Be a Great Time to Sell

Short Answer: There’s less competition and more serious buyers in winter.

Long Answer: Many sellers wait until spring, but winter buyers are often highly motivated. With fewer listings on the market, your property can stand out and attract strong offers.

# 16 – Did You Know? Buyers Don’t Pay Agent Commissions

Short Answer: In most transactions, the seller covers the agent’s fees.

Long Answer: Buyers often assume they must pay their agent’s commission. In reality, sellers usually cover both sides as part of the sales agreement, meaning buyers get expert help at no upfront cost. UPDATE: recent changes to the National Association of Realtors has given sellers more rights in what they can pay in commissions. Always check with your agent, as some may not receive a commission from the seller, and they have the right to ask you to pay them, instead of the seller.

# 17 – Did You Know? Videos Help Homes Sell

Short Answer: Homes with listing videos perform significantly better online.

Long Answer: A good video tour can create an emotional connection, drive more traffic, and shorten time on market. It helps out-of-town buyers view the home and makes your listing stand out in competitive markets. Smart agents are using this. If you intend to interview an agent to sell your home, ask them if they have a video program other than just the one they get for free from their local MLS service. They may charge for this service, so if you are selling a higher priced home, request it.

# 18 – Did You Know? Buyer Letters Make You Stand Out

Short Answer: A personal letter can make your offer stand out in multiple-offer situations.

Long Answer: These letters let sellers know who you are and why you love their home. When used properly and legally, they can give emotional weight to your offer — especially in tight markets.

# 19 – Did You Know? Staging Increases Value

Short Answer: Professionally staged homes sell faster and for more money.

Long Answer: Staging highlights a home’s strengths and minimizes weaknesses. It helps buyers envision themselves in the space and increases the perceived value, often leading to better offers.

# 20 – Did You Know? Insurance Rates Depend on Location

Short Answer: Things like flood zones and fire risks can raise insurance costs.

Long Answer: When buying a home, it’s important to research the area’s risk rating. Homes in high-risk zones may require additional insurance, which affects affordability and monthly expenses.

# 21 – Did You Know? Get Pre-Approved First

Short Answer: Pre-approval helps you know your budget and strengthens your offer.

Long Answer: A pre-approval letter shows sellers you’re a serious buyer and can make your offer more competitive. It also helps you understand your true budget and interest rate expectations.

# 22 – Did You Know? Renting May Be Smarter (Sometimes)

Short Answer: Owning isn’t always the best choice — it depends on your goals.

Long Answer: If you plan to move in the next year or two, or you’re building credit and savings, renting may be the better option for now. Your long-term goals should drive your housing decision.

# 23 – Did You Know? Thursdays Are Best to List

Short Answer: Homes listed Thursday typically get the most showings and offers.

Long Answer: Listing right before the weekend increases visibility during peak buyer browsing time. According to studies, homes listed on Thursdays often sell faster and closer to asking price.

# 24 – Did You Know? Tax Breaks for Homeowners

Short Answer: Mortgage interest and property taxes may be deductible.

Long Answer: Owning a home comes with potential tax benefits, including deductions for mortgage interest, property taxes, and more. These can significantly reduce your taxable income. Also, disabled veterans may also receive tax breaks from their own state.

# 25 – Did You Know? Sell With Tenants in Place

Short Answer: It’s legal — and often preferred by investors.

Long Answer: If you’re selling a rental, you don’t need to wait for tenants to move out. Many buyers are landlords themselves and may prefer a tenant-occupied property that’s already generating income.