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🚨 Don’t Fall for These 5 Mortgage Myths! 🏡❌
There’s a lot of misinformation out there when it comes to getting a mortgage. Let’s clear up 5 common myths that might be holding you back from homeownership!
1️⃣ Pre-Qualification = Pre-Approval? Nope! Pre-qualification is just an estimate, while pre-approval involves verification and makes you a stronger buyer.
2️⃣ You need a perfect credit score to apply. Not true! While a higher score helps, there are plenty of loan programs for buyers with less-than-perfect credit.
3️⃣ You can’t pay off your mortgage early. Many loans allow early payments, and some even let you make extra payments without penalties.
4️⃣ Applying for a mortgage will tank your credit. A mortgage inquiry may cause a small, temporary dip, but it won’t ruin your score—especially if you’re responsible with your credit.
5️⃣ You should wait for interest rates to drop. Waiting could mean missing out on the right home. You can always refinance later if rates go down!
📌 Bottom line: Don’t let myths stop you from owning a home. If you’re unsure, talk to a mortgage pro to get the facts.
👉 Which of these myths surprised you the most? Drop a comment below! 👇
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#Mortgage #Mortgagetips