Whether we are unsure about buying another house or we think it will be a breeze, there are probably some misconceptions that lead us in that direction. U.S. News & World Report cited a recent mortgage lender survey found that many Americans go into the mortgage-buying process ill-informed, and in many cases, misinformation actually prevents people from applying for a mortgage at all.

Here are three myths the survey uncovered.

1. Your credit has to be near-perfect. Two-thirds of survey respondents believed they needed a very good credit score to qualify for a mortgage. But experts say that in most cases, if you pay your bills on time and make a steady income, you can probably get by with some blemishes on your report.

2. You have to make a 20 percent down payment. More than 40 percent of survey respondents thought the only way they could buy a house was by putting down 20 percent of the purchase price. While 20 percent may help and may keep you from having to pay private mortgage insurance, many lenders don't require nearly that amount. Fannie Mae and Freddie Mac now offer mortgage programs with down payments as low as 3 percent.

3. A house is a great investment. A house can be a good long-term investment, but it is never guaranteed in the short-term. It's advisable to think of your house as a home first, and as a way to make money second.