09/07/2026
Top 5 Mortgage Myths vs. Facts
From The Loan Professor
MYTH #1: You need 20% down to buy a home.
FACT: Not necessarily! There are loan programs that offer low down payment options, and some qualified buyers may even be eligible for 0% down.
MYTH #2: Your credit has to be perfect.
FACT: Perfect credit is not required. Different loan programs have different credit requirements, and a mortgage professional can help determine which options may fit your situation.
MYTH #3: Renting is always cheaper than buying.
FACT: It depends on your finances, goals, location, and how long you plan to stay. Buying can provide an opportunity to build equity, while renting may make sense in other situations.
MYTH #4: Getting denied once means you can’t buy a home.
FACT: A denial doesn’t necessarily mean the end of your homeownership journey. Sometimes the solution is a different loan program, lender, strategy, or a plan to become mortgage-ready.
MYTH #5: All mortgage lenders offer the same options.
FACT: They don’t. As a mortgage broker, The Loan Professor has access to multiple lenders and loan programs, creating more opportunities to find a financing solution that fits each borrower’s needs.
Knowledge. Options. Solutions.
Jimol Samuels | The Loan Professor
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