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The idea of putting a minimum of 20 percent down on a home is a myth that can keep some people from trying to buy a home.

While it can be a great way to lower your mortgage payment and convince sellers that youre serious about buying, coming up with 20 percent of a homes purchase price can be difficult.

Here are some other options:

A lower down payment is acceptable. Lenders know that the 20 percent rule is a myth, and will often accept much less if you have good credit and a steady job.

The average down payment on a home purchase in 2016 was 11 percent, according to a report on aspiring homebuyers by the National Association of REALTORS. For borrowers under age 35, the average down payment was just under 8 percent. The largest share of loans for buyers under 35 were for people putting down less than 5 percent or about $3,500. Coming up with 10 percent down, however, can allow you to have a lower credit score”sometimes as low as 500 for an FHA loan”to qualify.

Around 3 percent is common. A few government agencies require only 3 percent or so down. Loan programs backed by Fannie Mae and Freddie Mac require 3 percent down, while the FHA mortgage that targets first-time buyers asks for 3.5 percent down. The FHA mortgage allows the down payment to be a financial gift or from an approved down payment assistance program.

The Fannie Mae HomeReady program allows non-borrowing household members to contribute toward qualifying income. So, if you have an aunt or roommate, their income can be included when qualifying for a home loan.

The programs dont require perfect credit. The average FICO credit score was 713, but borrowers with a 639 score can still be approved.

People who dont qualify for such programs can still buy a home with a 639 FICO score, but may need to increase their down payment to 5 percent.

There are no-down-payment options. VA mortgages require no money down for current and former military service members, and most lenders offer them.

Some loans for less than 20 percent down require private mortgage insurance, or PMI, which can add $100 or so to a monthly mortgage; however, VA loans dont require mortgage insurance.

USDA home loans also dont require a down payment. These loans are backed by the U.S. Department of Agriculture, and arent for farms but for single-family homes that are in less-dense areas of the country.

Piggyback loans are available. These require 5 ” 10 percent down and are two mortgages that work best for people with good credit. The first mortgage funds 80 percent of the cost and the second is a 10 percent mortgage”the final 10 percent is a down payment. This eliminates the need for mortgage insurance.

You can find other assistance programs. Down Payment Assistance programs, or DPAs, are run by the government and nonprofits. They offer gifts or no-interest loans to increase homeownership. Nearly 90 percent of all single-family homes in the U.S. are eligible for some kind of DPA.

All of the major loan types listed above allow DPA funds to be used toward a down payment. Your lender should be able to help you find DPAs in your area.

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Keep your home stocked with everything you need for nutritious meals and healthy living, and regain valuable time in your day.

Take Inventory

Let your current inventory guide your meal planning for the week so that youre using up what you already have on hand.

Map Out Your Shopping List

Make sure your list is in sync with the flow of the store and use a highlighter to help keep it organized.

Go Early

You’ll breeze through the store quickly and find it well-stocked if you’re able to snag the freshest produce and capitalize on sales and specials before they sell out.

Reconsider Coupons

Download the mobile app of your favorite store and have coupons and specials automatically loaded to your rewards card.

Buy in Bulk

Stock up on meat that’s on sale if you have extra freezer space, or large-size paper products if you’ve got a spot to tuck them away until needed.

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For generations, most home purchases were made by married couples. With many people postponing marriage to pursue an education and a career, more and more single adults are overcoming challenges to become homeowners.

Meet Income Requirements
If you want to buy a house by yourself, the lender will make its decision based solely on your income. If the earnings from your full-time job aren’t enough to buy the house you want, or if the monthly mortgage payments would be a stretch, consider looking for a part-time job. You could find a retail position, freelance work, odd jobs, or anything that would allow you to earn money by using skills you’ve learned in school, at a previous job, or by pursuing a hobby. A relatively small amount of money, earned on a consistent basis over a period of time, could make a big difference when it comes to qualifying for and paying a mortgage.

Check Your Credit
You should check your credit reports several months before applying for a mortgage. Your reports might contain errors that could derail your chance of qualifying for a loan. If you find any inaccurate information, contact the credit bureau right away to have it corrected.

Your credit report will also show your current credit scores. If they’re lower than lenders requirements, you can raise them by paying down debt and consistently making payments on time. Dont apply for any new credit cards or loans in the months before you apply for a mortgage because that could make you appear like a risky applicant. At the same time, dont cancel any credit cards you dont use, because that could increase the percentage of available credit you’re using and lower your credit score.

Make a Down Payment
For a single homebuyer, coming up with a 20-percent down payment can be difficult”or impossible. If a large down payment isn’t realistic in your case, explore other mortgage options that have lower down payment requirements, such as a loan from the Federal Housing Administration (FHA).

Consider a Co-Signer
If you cant qualify for a mortgage, or you need to act quickly to get the house you want, you might be able to get someone to co-sign the loan. Before you ask a family member or friend, think it over carefully. Doing so could help you get the mortgage, but what if you couldnt afford the monthly payments? The person who co-signed the loan would be financially responsible. Think about whether that person would be able to cover your mortgage in addition to his or her own bills, or whether your co-signers entire family might suffer financially by bailing you out. Consider how that could affect your relationship, and whether it’s worth the risk.

Make Your Dream a Reality
Buying a house by yourself is an achievable goal, as long as you meet the lenders guidelines. Take a realistic look at your current financial picture and do everything you can to make yourself a qualified applicant.

Published with permission from RISMedia.

Creating a nostalgic feel is the perfect way to recall a bygone era and can be done in any room with these items.

Jukebox

A mint-condition jukebox is an entertaining statement piece that will never go out of style.

Vintage Cameras

Arranging vintage cameras from different eras on a shelf is likely going to evoke a response from visitors young and old.

Arcade Games

Create a fun vibe with arcade games and pinball machines, while also introducing your kids to a game that you can actually beat them in.

Record Players

Record players have proven to be irreplaceable thanks to their distinctly rich sound and beautiful aesthetics.

Vintage Refrigerators

Whether you put it in your kitchen, game room or garage, a vintage refrigerator lends an old-timey feel and pop of color to any setting.

Published with permission from RISMedia.