Five Common Mortgage Myths...DEBUNKED! (Mindset)

During a time of historically low mortgage rates matched only by the historically unprecedented instability of the country's infrastructure due to COVID-19, we're seeing a lot of potential homebuyers trying to make the most of challenging circumstances and get into a home. The advertisements for low mortgage rates are everywhere, and it might seem like everyone you know is locking in those low rates. But don't be fooled; qualifying for a mortgage has never been an "easy" process, and now more than ever, it's become important that buyers be able to differentiate between the "mortgage myths" and what's actually taking place in lending institutions. In real estate, we know "time is of the essence," so understanding qualifying criteria for the mortgage you're looking to acquire and getting approved BEFORE you find a home is the best way to ensure you get to the closing table in a timely manner. Take note of any mortgage myths you might have heard during today's episode, and make sure you retire any misconceptions the next time you approach a mortgage broker or lender about qualifying for a loan.

Mentioned in today's episode:
Propstream

Here's a link to the article Donny discussed in today's episode:
5 Rampant Mortgage Myths You'll Hear These Days - Completely Debunked

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