12/08/2026
Busting 2 of the biggest mortgage myths that trip up property buyers! 🏠💡
When applying for a home loan, misinformation can end up costing you time and money. Here’s the truth behind two common mortgage myths:
Myth 1: You need long-term employment to be eligible for a loan.
Fact: False! You don’t need years at the same company. As long as you are past your probation period and have a stable income, you can apply for a loan in as little as 1 month in your new job.
Myth 2: Lenders Mortgage Insurance (LMI) protects the buyer.
Fact: LMI protects the lender, not you! However, paying LMI isn’t always a bad move. If property prices are rising fast, paying LMI to enter the market with a smaller deposit can be much smarter than waiting years and getting priced out.
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