Buying a home is a huge commitment and one which should be considered carefully before undertaking. Not only are you committing to years of the mortgage, but you are also putting down roots in a community for some period of time. As more and more Millennials consider the pros and cons of buying their first home, they are often confronted with a barrage of information containing half-truths and outright lies.

Here are 2 common myths which cause my potential buyers to hold off buying a home.

While it’s true that most 0% down loans have disappeared after the mortgage meltdown last decade, it’s also true that there are some very attractive loan options which do not require a 20% down payment. Although loans with less than an 80% loan-to-value do require private mortgage insurance, which add cost to the monthly payment, there are many options available with a lower down payment; many lenders offer conventional loans with 5-10% down payments, FHA loans for first time home buyers require only 3.5% down payment. Qualified veterans can also use the VA loan program to purchase a home with 0%.

While it is certainly helpful to have a high FICO score and great credit, there loan programs available for buyers will lower scores. In fact, a survey done last fall indicated that over 50% of new loans in the past year were for people with FICO scores in the 600-649 range. The main point is that buying a home is a great investment in your future, both financially and personally. Before you assume you aren’t ready to buy a home, talk with a lender and learn your options. Don’t let these myths keep you from a new home.