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Five Home-Buying Myth Busters

The truth is, buying a home and getting a mortgage is easier and faster than you might think. Here are five popular myths and the real truth about home buying.

Myth: It will take a lot of time.
Truth: A good mortgage broker can take your application and give you a pre-approval letter in minutes!

Myth: I have to dig up tons of paperwork.
Truth: These days much of the verification process, like collecting pay stubs, bank statements, and tax info can be done automatically by your mortgage broker and lender.

Myth: I need a 20% down payment.
Truth: You can get a mortgage for as little as 1% down and still have a low monthly payment.

Myth: A bank is the best place to get a mortgage.
Truth: Banks don’t offer choices. A local independent mortgage broker can help find the best options and rates.

Myth: I need to be “settled down” first.
Truth: Even with a low down payment, monthly mortgage payments are often lower than rent prices. Plus, when you’re buying a home, you’re paying yourself, not a landlord.

Information provided on this website is for informational purposes only, and in no way is any of the content contained herein to be construed as financial, investment, or legal advice or instruction. American Mortgage Brokers does not guarantee the quality, accuracy, completeness or timelines of the information. While efforts are made to verify it, the information should not be assumed to be error free. Some information on the website may have been provided by outside sources and has not necessarily been verified by American Mortgage Brokers. American Mortgage Brokers does not assume any liability for the information contained herein.

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