Purchasing a house can be both thrilling and terrifying for many people. We’ve all encountered the myths and tales about what you should or should not do while buying a house. But don’t be put off by these mortgage misconceptions. I have debunked two of the most popular ones for you below.
First, the most obvious myths that people hold is that they are unable or rather cannot afford to buy a home. The truth is, if you can afford to make rental payments on a monthly basis, you might be able to purchase a home as well through monthly mortgage payment. Speak with a competent mortgage provider to see how much mortgage you can afford. You can receive a pre-qualification, which is a fast, non-binding assessment of how much cash you might possibly borrow. A mortgage pre-approval may be available from some lenders. Pre-approval, unlike pre-qualification, implies you’ve provided verification of your loan, income, and savings. You know how much you can borrow once you’ve been pre-qualified or pre-approved.
Secondly, a myth that most people have is the idea that …