Do you really need 20% of a home’s cost for a down payment? Can you buy a home if you have student loans? Is it better to be pre-qualified or pre-approved for a mortgage? Is your home guaranteed to increase in value? There are many misconceptions about the details of home ownership so if you’re starting the process of looking for a home this episode of Beginner to Buyer will get you up to speed on the reality behind common myths and misunderstandings. To start, host Nadeska Alexis talks with new homeowner Dave Brown about how he and his fiancé found their first home and managed to save for it as well as an upcoming wedding. Dave and his partner are both planners which shaped how they approached their search for a home as they were determined to do the research to avoid common myths around the process. Initially based in Washington, DC, they wound up looking in Minneapolis, Minnesota to be closer to family and find lower cost of living and housing prices. Dave is open about the frustrations of the process and how he and his fiancé communicated and created organizational tools to break down their priorities and evaluate how different houses fit them. Their focus eventually paid off and Dave shares perspective about what was challenging and ultimately rewarding. Nadeska is then joined by Cerita Battles, Managing Director, head of Community & Affordable Lending at Chase for a deep dive into common myths and misconceptions about the home buying process. Cerita explains different down payment options, how your debt affects your ability to buy a home and breaks down the expenses associated with home buying beyond the down payment. She also explains how home equity works, why your home is not always guaranteed to increase in value, and the realities of renovations in terms of home value. Whether you’re new to the home buying process or settling into home ownership, Nadeska and Cerita’s conversation is filled with important insights and detailed breakdowns of how to avoid common mistakes and misconceptions. You can read the full transcript on the Chase Website