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Ep 4: Mortgage Mythbusting - What's True and What is a Myth?
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What’s true and what’s a myth when it comes to home buying and mortgages? On today’s episode, Bill is going to play myth-buster as we go through 7 different statements.
Is it true you need to put 20% down? Does your down payment cover closing costs? While you don’t necessarily need to put all 20% down, it’s all going to depend on your situation. We’ll also go over how a mortgage pull impacts your credit, whether student loans are a dealbreaker, the difference between pre-qualification vs. pre-approval, and much more. There’s a lot of information out there so we’ll help you sort through these statements and discern fact from fiction.
Get Additional Information: https://smartmortgageshow.com/podcast/ep-4-mortgage-mythbusting-whats-true-and-what-is-a-myth/534/
Timestamps:
0:54 – Do you need to put 20% down?
1:48 – Does your down payment cover your closing costs?
2:44 – Does applying for a mortgage hurt your credit?
3:44 – Is having a student loan a dealbreaker?
5:07 – Are adjustable-rate mortgages bad?
6:28 – Do you get penalized for paying your mortgage off early?
7:15 – Are pre-qualification and pre-approval the same thing?
8:11 – Are there any other misconceptions?
Resources:
Schedule a time to meet with Bill here.
Visit the Smart Mortgage Show website for more podcasts, videos and info.
Call: 484-352-4151.
Visit LendUS® on the web.
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