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Home Loan Myths

With only 49 days until Christmas, many of you may already be stressing out about it — or your personal holiday of choice. This year, my family and I have completely embraced a stress-reducing movement that I thought I would share; check it out at http://www.adventconspiracy.org/. Be sure to play the video that is displayed in the top-right part of your screen.

On with today’s topic…

Here are a couple recent home loan myths that I have heard when talking to clients over the past week that I thought I would share with you.

Myth Number One

You need at least 10% down to buy a home.

This is false.  We have many home loan programs for borrowers with less than 10% down.  In fact, we have FHA, conventional and VA options available that fall into this category. Both the FHA and the Conventional options currently require 3% down and the VA will allow for 100% financing for all eligible veterans.

Myth Number Two

Only people with great credit can get a home loan

This, too, is false.  We have many programs available for borrowers with varying levels of credit history. If you have had financial troubles in the past, but are on the road to recovery, I can work to find a way to make a loan that you can afford!

Please contact me today for a free quote on a home loan refinance or new home purchase; we offer fixed rate mortgages amortized in five-year increments between 10 and 30 years – all without penalty for early payoff.

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