Busted! Don’t Believe These Myths About Mortgages!

Busted! Don’t Believe These Myths About Mortgages!

You shouldn’t believe everything you hear as you could turn down the best opportunity to finance your dream home if you believe in the misconceptions that you hear or read about. To help you avoid falling prey to these misconceptions and get the best available mortgage options, we have debunked three myths about obtaining a mortgage.

Mortgage. Credit Myths, Busted: TransUnion Tackles Credit Confusion in Annual. More than one-third (35 percent) of consumers believe closing a. Close to half (44 percent) of all consumers still don't know this basic fact.


Busted! Don’t Believe These Borrowing Myths!. Though they are the most common way to purchase a home, there is a lot of inaccurate information about mortgages floating around. These misconceptions have misled people into believing falsehoods that have negative impacts on their mortgage.

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If your mortgage is a purchase, refinance, or just switching between lenders this can affect the rate. These key mortgage features don’t fit in a rate ad, and this is where the rubber hits the road in building the right mortgage. I often think of the lowest rate mortgage to something like a car.

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Or worse, your mortgage terms may reflect things you didn’t expect. To help you steer clear of these misconceptions, Connie Graham, a mortgage broker in Edmonton, with Axiom Mortgage Solutions, has debunked some of the most widely believed myths about mortgages. Myth 1: Only mortgage clients who don’t qualify at a bank use a mortgage broker.

Busted! Don’t Believe These Myths About Mortgages!. Myth 2: A home mortgage pre-approval means that the money is guaranteed. This is so not the case. A mortgage pre-approval is only a potential amount of mortgage you can obtain. Remember the lender has not necessarily received or reviewed.

Busted! Don’t Believe These Mortgage Myths! Gary Brown | May 31, 2018 Buying a new house can be both exciting and stressful. As you embark on your home-buying adventure, some of the more stressful parts are related to finances. To help you handle the financial aspects of home buying, like.

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