10/19/2026
MORTGAGE MYTHS vs. FACTS!
THE SAMUELS TEAM | MORTGAGE EDITION
Let’s bust some of the biggest mortgage myths that could be keeping you from becoming a homeowner!
MYTH #1: You need 20% down to buy a home.
FACT: NOT TRUE! Some loan programs allow as little as 3% or 3.5% down, and eligible buyers may even qualify for ZERO down payment options!
MYTH #2: You need PERFECT credit to qualify for a mortgage.
FACT: Different loan programs have different credit requirements! You don’t necessarily need a perfect score to become a homeowner.
MYTH #3: Getting prequalified and preapproved are the same thing.
FACT: Not exactly! Prequalification is typically an initial estimate, while preapproval generally involves a more detailed review of your financial information.
MYTH #4: Renting is ALWAYS cheaper than owning.
FACT: Not necessarily! Depending on your local market, home price, interest rate, taxes, insurance, and maintenance costs, owning may be a competitive option. Plus, mortgage payments can help build equity over time!
MYTH #5: You should wait until interest rates drop before buying a home.
FACT: Timing the market isn’t always the best strategy! The RIGHT time to buy depends on your financial readiness, affordability, and long-term goals.
MYTH #6: If you’ve been denied a mortgage before, you’ll never qualify.
FACT: A previous denial doesn’t mean homeownership is impossible! Financial circumstances change, loan programs vary, and understanding your options can make all the difference!
Which mortgage myth have YOU heard the most?
1️⃣ You need 20% down
2️⃣ You need perfect credit
3️⃣ Renting is always cheaper
4️⃣ You should wait for rates to drop
5️⃣ Once denied, always denied
DROP YOUR NUMBER IN THE COMMENTS!
