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Busted! Don’t Believe These Mortgage Myths!

By  Paul Mangion |   | Posted in " Custom Mortgage Solutions, Home Equity Loans, Home Purchase Mortgage, Mississauga Interest Rates, Mortgage Investments "

Busted! Don’t Believe These Mortgage Myths!

Buying a dream home inevitably requires you to obtain a mortgage. However, the mortgage process, with its many steps and decisions can leave you feeling stressed and overwhelmed. Adding to the situation is the growing number of myths and misconceptions that are rarely addressed.

To help you make your way from prequalification to closing without a pitfall, and to help you spot the popular mortgage myths and reveal the truth behind them, we’ve debunked a few common myths.

Myth 1: Anyone can get a great rate.

This may be true if rate is your only requirement. However, what about penalties and pre-payment options? Many people break their mortgage early and sometimes your great rate can have very high penalties. By engaging mortgage services, you’re informed of all the pro's and con's about your mortgage selection.

Myth 2: All brokers charge fees.

This is definitely not the case. Very often clients do not have to pay for outstanding service.

Myth 3: I will never get a mortgage.

Very rarely should you be devoid of any hope of getting a mortgage. In most case you will get a mortgage. In addition, if you have a sufficient down payment, there is always a good chance you will be approved. If not, you can work with mortgage service agents who will help you qualify for a mortgage in the future.

Having been in the mortgage industry for over 17 years, we atM.O.S MortgageOne Solutions Ltd, specialize in hard-to-place mortgages and have extensive experience in helping our clients secure the right lending solution to achieve their financial goals. If you have any questions about The Mortgage Centre, we’d love to hear from you. Contact us here.