Time to DEBUNK those mortgage myths that are out there!👊

Time to DEBUNK those mortgage myths that are out there!👊

Myth: Low mortgage rates mean you need to buy a home ASAP.

⁣Truth: Rates are low, but don’t let that rush you into a decision you’re not quite ready for. Consider the flip side: Low rates have pushed home prices up more than 19%. Translation? You could end up overpaying for a home just because rates are low.⁣⁣

Myth: IF you find a house you like, THEN you can worry about a mortgage.⁣

Truth: Nope. Not true. In this market, you’ve got to have your financing locked up if you want a chance at nabbing the home you love. Offers are flying around so fast you simply don’t have time to make an offer without a pre-approval.⁣⁣

Myth: You need piles of cash lying around to buy a house.⁣

Truth: The average buyer put down just 12% in 2021. For first-time buyers, the average was closer to 7%. So while you do need to have your finances in order and a steady job, there are more options available out there than just the 20% down myth. ⁣

Other real estate rumors got you scratching your head? Reach out and let us set the record straight!

*Eustis mortgage is an equal opportunity employer that welcomes and encourages all applicants to apply regardless of age, race, sex, religion, color, national origin, disability, veteran status, sexual orientation, gender identity and/or expression, marital or parental status, ancestry, citizenship status, pregnancy or other reason prohibited by law. Eustis Mortgage Corporation supports Equal Housing Opportunity. Any application for credit must be approved based on current underwriting policies. For more information about Eustis mortgage visit our website at www.locallending.com *

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