Buying a home is a big commitment, so it’s understandable if you’ve been postponing this purchase. Like many, you might believe that a home is out of your financial reach.

But this thought may also be based on incorrect information. Keeping Current Matters recently disputed 4 commonly held misconceptions you might be harboring about your ability to buy a home.

Consider these myths:

I need to make a 20% down payment to buy a house: Actually, the average down payment for first-time buyers is only 6%.

Mortgage interest rates are going up, so I can’t afford to buy: In fact, mortgage rates have been decreasing since November and are far less than they were years ago. For example, in the 1980’s, interest rates were as high as 12.7%.

It’s cheaper to rent than buy a house: Not necessarily. Rents are on the rise. Keeping Current Matters notes that 88% of property managers raised their rents in the last 12 months.

My credit score is too low to qualify for a loan: The average credit score on approved loans has dropped for many loan types. For example, a credit score of just 675 is sufficient to secure an FHA loan.