Homebuyer Resource Center

Buying a home is no small decision, but we aim to make it as simple as possible for you. These resources from our homebuying experts will help you start to understand the process. When you're ready, we'll be here to guide you toward your next step.

Unraveling 5 Homebuying Myths

Myth 1: You can't afford/won't qualify to buy a home

With everyone so focused on down payment minimums and underwriting policies, buying a home can feel unattainable for some people. But every homebuyer is different and your situation is unique. The truth is, lenders will gather as much information as they can to help you find a mortgage program that you can afford today and in the future.

Myth 2: You need a large down payment

Years ago, a down payment of 20% was a common requirement for homebuyers but that's not the case anymore. Today, there are a number of mortgage options that don't require a large down payment. You may even qualify for certain down payment and closing cost assistance programs.

Myth 3: I need excellent credit to get a loan

While a high credit score will work in your favor, having less than perfect credit doesn't automatically disqualify you. Lenders look at multiple factors when deciding if homebuyers qualify for a loan, and your credit score is just one of them.

Myth 4: It's cheaper to rent than own a home

In recent years, rental prices have increased while interest rates have decreased, which makes homeownership much more enticing. Besides, rent is simply money spent on something you'll never own, while mortgage payments build equity in the home – similar to adding money to a savings account. Plus, owning a home can provide you with tax benefits.

Myth 5: The lower the mortgage rate, the better the value

Be wary of any mortgages with rates that seem too good to be true. They probably are. Rates change every day, and they're only one factor to consider when looking for a mortgage. The terms, closing costs, length of the loan, and length of the rate lock should all be taken into account to determine which option is best for you.

Homebuyer’s Handbook

Buying a home can feel overwhelming. This guide breaks each phase of the process into manageable steps to help you find the perfect home — and mortgage — for your current and future goals.

Download the homebuyer's handbook

House hunter’s checklist

Chances are, you'll consider a number of homes before finding the perfect one. Use this checklist to keep track of the properties you tour and weigh the pros and cons of each before putting in an offer.

Download the house hunter's checklist

5-Step Mortgage Process

While everyone's journey to homeownership is unique, securing a mortgage typically involves five key steps. Your Bremer Mortgage banker will guide you through each one, but the steps below are a great place to start understanding the process.

Mortgage Application Checklist

Use this checklist to make sure you have everything you need to complete your mortgage application.

Framework® Online Homebuying Course

This course is designed to help you become a more confident homebuyer. Interactive and engaging, it will take you through steps to improving your credit, choosing a real estate agent, home inspection basics and more.