Top Mortgage Myths:

“…but I need 20% for a down-payment”.

Well… that makes it easier, but not really. There are options for a little as 3.5% down, but please remember there is always a catch. They’re not that bad, but you need to know bout them.

“I have to get a lot of paperwork together too, right”?

There is a lot of documentation required now. There is just no getting around that. But it really isn’t that bad, and if you know how to use a technology like online banking you can pull almost everything together quickly.

“It will take a lot of time”.

Not really. There is time involved yes; but most of that is people working behind the scenes on your behalf. And a good mortgage broker should be able to at least sketch out a pathway and identify potential pitfalls within a few minutes of getting honest answers to honest questions.

“Sounds great, but I’ll just go to my bank”.

You could do that. But banks really don’t have many options regarding what they can offer, and they can’t offer anything different that a mortgage company anyway. Plus, they don’t have the ability to maneuver when needed if there is a hiccup, and there is always a hiccup.

“I’ll rent for a while, I don’t really want to pay a mortgage payment”.

Here’s the thing… you are already paying a mortgage payment. Just not yours. And somebody else is getting the write-offs and gaining equity and you’re paying for it.

…So do you think it might be worth a conversation?