Think You Can't Afford to Buy a Home? You Might Be Surprised. - The Source

I hear the same thing from potential homebuyers all the time:

“I’d love to buy, but interest rates are too high.”

Or:

“I just don’t have enough saved for a down payment.”

And my response is usually the same:

Have you actually looked at what you qualify for?

Because you might be surprised.

With rental prices continuing to put pressure on household budgets, many people assume buying a home would mean taking on an even larger monthly payment. But that isn’t necessarily the case.

Depending on the home, loan program and buyer qualifications, there are opportunities where a mortgage payment may be comparable to, or potentially even lower than, what someone is currently paying in rent.

The difference? You’re putting that monthly payment toward a home of your own and building equity along the way.

There are programs and resources available right now that many Central Oregon buyers simply don’t know exist. Depending on your qualifications, there may be opportunities for significantly reduced interest rates, down payment assistance, closing cost assistance, seller credits and, in some cases, options requiring little to no money down.

Select programs may even offer qualified buyers interest rates as low as 3.785%.*

And these opportunities aren’t necessarily limited to the buyer you might picture when you hear “homebuyer assistance.”

First-time homebuyers, educators, first responders, health care workers, veterans and people in a variety of other professions may have programs or incentives available to them.

You don’t necessarily need 20% down. You don’t necessarily need perfect credit. And you shouldn’t automatically assume that today’s advertised mortgage rates mean homeownership is out of reach.

There are also strategies beyond special loan programs. Seller-paid closing costs, rate buydowns, down payment assistance and other incentives can completely change the numbers.

The biggest mistake may be deciding you can’t afford to buy before ever finding out what buying would actually cost you.

You don’t have to be ready to make an offer next week. You don’t even have to know exactly what you’re looking for yet.

Start with a conversation.

Let’s look at what you’re currently paying in rent, what you’re comfortable spending each month, what you’ve saved and what you hope to accomplish. I can connect you with lending resources and help you understand which options may be available to you.

Maybe you discover that buying isn’t the right move yet. That’s valuable information, too, because now you have a roadmap.

But you may also discover you’re much closer to owning a home than you thought.

Before you sign another lease because you assume buying isn’t possible, let’s run the numbers.

This article appears in the Source August 27, 2026.