MYTH 1:  I should call an agent or lender to start the process.

This is the #1 mistake.  If you call an agent first, they will pass you on to their “mortgage guy”. Then this “guy” will make a snap decision on whether or not they will work with you.  That’s why Get Mortgage Ready is in business. We make sure your 1st impression is so good that they covet your business.


Myth 2:  Home ownership is too expensive.

Owning a home or renting an apartment comes with expenses.  However, if you take the time to compare the cost of renting an apartment versus being a home owner and gaining equity, you may be surprised. 


Myth 3:  I don’t have the 20% down payment to close on the home.

You don’t need 20%. There are 0% programs and others as low as 3.0%. 


Myth 4:  I have good credit, a good job and some money. I’ll get approved.
Granted having those are a plus, however many 1st timers who said the same thing were rejected by a mortgage company. Underwriters dig into your employment and income history, they analyze your credit report and they keep

digging.  Remember, it’s not just about getting approved; you want to be approved at the best rates and lowest payments.


Myth 5: Any Realtor or Mortgage company is good enough to work with.

This might be the 2nd biggest mistake.  Choosing a “friend” is often not the way to go. There will be some tough conversations along the way and a friendship often gets in the middle.  We have dedicated 1st time buyer specialist who are not only accountable to you, but also us! 


Myth 6:  I’m preapproved.  So nothing can go wrong.

Ouch.  A pre-approval is nice to have however; there are many hurdles you still have to overcome to get the final approval.  Many 1st timers have lost thousands of dollars AFTER they received a pre-approval.  That’s why having a dedicated Advisor (like us) guiding you each step to avoid these issues.


Myth 7:  My credit or student loans are stopping me from purchasing a home.

Credit can be improved fast.  Student loans are a heavy burden but there are strategies to lessen their impact.  Get Mortgage Ready helps you address each of these issues in advance – making your home shopping less stressful.

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