Six most Popular Mortgage Myths
If you are considering a Mortgage, you're probably getting a lot of well intentioned advice based one individual's personal experience. It is good to listen to them but remember one basic fact each one has his/her own way to perceive and express the facts. Always seek guidance from professionals and do not decide anything based on personal assumptions. Professionals keep themselves aware of financial market and have sound knowledge of the same.
Do not let yourself victim of prevalent myths in mortgage market. Some of the Most Popular Myths are:
A 30-year fixed is always the best way to go
There is no universalization of merits of loan type; i.e. loan that may suit your friend may not be suitable for you. There are various factors that have to be considered before deciding which loan type is the best for you. 30 year mortgage is good for all those who want to stay in the house for ever. While a 30 year mortgage may not be good for people who has an intention of using the property for short term stay.
It will take 90 days to get mortgage
We assure you of getting your loans processed in 7 days. The moment you send us request, we connect you to the top lenders of your area. The lenders will send you quotes and you need to choose the best. The lenders then may ask you for some documents and your loan will be sanctioned.
Lots of paperwork required
We connect you to lenders who need less paperwork and the process of granting loan is easy and hassle free.
People with poor credit rating do net get loans
Just shop with us, we will let you to have mortgage loans even when you have poor credit ratings.
Mortgage Providers always hide some costs
That may be true with lenders who are not legitimate and without any customer retention policies. Our lenders are genuine and are highly transparent in their working.
You need to make a big down payment
Increased market competition has led lenders to come up with Zero Down Payment system. Sometimes you have to pay 5-20% of the total value of the property purchased.