Here is a great article about lending myths. I am amazed when I talk to potential homebuyers that still think they need 20% down, perfect credit, or are unaware of various down payment assistance programs that are currently available. Here are a few of the myths that are still out there in the marketplace.
Scotsman Guide - Obstacles in the path to homeownership have reached mythical proportions, preventing many would-be homebuyers from even starting the journey. Loan originators are in a unique position to help cut borrowers’ concerns down to actual size and give them confidence that they can achieve their goals.
Myths about mortgages abound in the minds of many homebuyers. Loan originators must be aware of the presence of these myths and, armed with the facts, provide potential borrowers with a better understanding of the realities and possibilities of the loan-origination process. Let’s take a look at some of the most common myths, along with the facts originators can use to dispel these fairy tales. READ MORE AT SCOTSMAN GUIDE