Mortgage Myths Busted

If you’re in the market to buy a home, getting a mortgage can be intimidating because of mortgage myths that can cause confusion. By knowing these myths, you can make a more informed decision and find the right mortgage for you.

Don't fall prey to the common mortgage myths that you must make a 20 percent down payment. While it’s a general rule of thumb, that doesn't mean you can't buy one with a smaller down payment. Another myth is that you need a perfect credit score. Having good credit is important when applying for a mortgage, but it's not the only factor lenders consider.