---
title: "ON KATV: HOME BUYING FOR ALL"
description: Covid-19 has upended our lives in many ways.  Here to discuss how purchasing a home even during a Pandemic is something everyone can do is Patrick Dennis with Bank of Little Rock Mortgage.
image: https://blog.blrmortgage.com/hubfs/Capture-Oct-13-2020-07-23-41-32-PM.jpg
---

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# NEWS

# ON KATV: HOME BUYING FOR ALL

Posted by [Blake Montgomery](https://blog.blrmortgage.com/mortgage-newblog/author/blake-montgomery) on Oct 13, 2020 4:32:37 PM

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WATCH PATRICK AND VIKTORIA TO LEARN MORE

 

 

 

 

 

 

 

 

 

From the October KATV interview with Patrick Dennis and Viktoria Capek

No Headphones.  No Problem.  See below for transcript.

From the station that's on your side

this is channel 7 news good morning

arkansas

welcome back to good morning arkansas

everyone it is safe to say the

coronavirus pandemic has

kind of upended our lives in more ways

than just one

as arkansans stay home working many find

themselves maybe rethinking their living

arrangements right so

more and more arkansans are now

considering purchasing a new home with

more land a backyard oasis

a good place to be a space for home

offices and here to discuss why

purchasing a home is something everyone

can do

even during a global health crisis is

patrick dennis

loan officer bank of little rock

mortgage thank you patrick for joining

us

let's go ahead and jump into this why

buy when you can just rent

you know right now currently uh

rates are super low so by buying rather

than paying

high rental prices you can save a couple

hundred dollars a month

easily uh on a purchase and why not take

advantage of that right now

um plus you know discussed outdoor oasis

um things of that nature you know

building building the home that you want

to stay in

let's face it we're staying home a lot

more

you can't really make improvements to a

rental property without a landlord's

permission

so when you buy you can do whatever you

want to your surroundings and improve

that

and when you make those improvements

you're actually improving your future

wealth

because you're you know you're you're

putting money into your

property rather than the landlord's

property absolutely it's not like buying

home is kind of the perfect diy project

right

well you do have to put down uh kind of

a certain amount of funding when you

buy a home but what if buyers can't put

down a full 20

when they're looking to buy yeah so

there's there's always been this myth

that you have to have a

you know 20 down to uh to buy a home and

that's just not true now twenty percent

down will

will help you avoid uh mortgage

insurance but we have

a ton of different options for people uh

even

no no money down options uh for our

deserving veterans we have va loans with

that are a hundred percent uh also no

mortgage insurance on

monthly so it's just an incredibly low

payment

uh rates are in the twos right now on

those on those loans

uh rural development that's a hundred

percent loan

that's you know property eligible but a

great low mortgage insurance for for

those people that qualify

uh and and one of the better loans out

there is just three percent down

on what we call a home ready or a home

possible that's for new home buyers

first time home buyers and a first time

home buyer is constituted by

you haven't owned a home in three years

uh so

three percent down low mortgage

insurance

you know credit scores as low as 620 so

lots of opportunity to not have to put

that 20

down okay that's a good thing to know i

feel like i'm taking a lot of mental

notes because i know i'll be buying a

home here in the next few years so this

is definitely

definitely good stuff patrick well okay

so a lot of potential home buyers

they're still maybe kind of hesitant

what do you think

might be giving them this hesitation or

holding them back a little bit from

actually making the jump to buy a home

yeah so it's a huge commitment there's

no question and i think we've

all all have these uh preconceived

notions that it's a daunting task to buy

a home

uh i don't qualify it's not gonna happen

well you know what you got to take that

first step and we try to make it as easy

as possible when we go out and

and and get you pre-approved for a loan

um

it makes more sense to go after it now

it's well worth it to buy a home

money magazine came out with something

that said um

that homeowners spend 15 percent of

their

income on their monthly mortgage payment

whereas

renters uh pay 30 of their uh monthly

income on on their uh home payment

so i mean that's a vast difference as i

said earlier you can probably save a

couple hundred bucks

a month and set yourself up for the

future by

by purchasing a home at this point in

time absolutely and if

someone does maybe make that decision

okay we are going to buy a home

what is that very first thing someone

should do when beginning

the home buying process you know the

first thing that you want to do

especially now

houses are selling i mean sometimes

within 24 hours

sometimes within hours they're getting

multiple offers

so the first thing you want to do is get

your get your ducks in a row

get pre-qualified do an application with

a qualified mortgage lender

figure out what your income is figure

out what your debt is figure out what

you can afford

and you want to be ready for this and

this happened you know in the last two

weeks i had somebody

call me right away and and the house had

an offer within two hours and they

weren't unable to

you know to get their application in

that quickly so

before you start looking at homes let's

get you pre-qualified let's get you set

up and figure out what you can afford

and and how we can make it all happen

for you absolutely

one more time patrick if you could just

remind those viewers at home

uh maybe where they could learn more or

reach out to you in the bank of little

rock

yeah give us a call at bank of little

rock mortgage at

ninety 501-219-911 hundred um we're at

uh blrmortgage.com

as well facebook twitter uh all those uh

usual suspects

good stuff this morning well thank you

so much for joining us and telling us

all about that i know i definitely

learned a lot i hope a lot of you at

home did as well

more good morning arkansas when we come

back from this break

 Topics: [first-time home buyer](https://blog.blrmortgage.com/mortgage-newblog/topic/first-time-home-buyer) [Low Down Payment](https://blog.blrmortgage.com/mortgage-newblog/topic/low-down-payment) [Home Ready](https://blog.blrmortgage.com/mortgage-newblog/topic/home-ready) [Rent or Buy](https://blog.blrmortgage.com/mortgage-newblog/topic/rent-or-buy) [COVID19](https://blog.blrmortgage.com/mortgage-newblog/topic/covid19)

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