True
• You can get a loan with no money down
•
In most cases it is less expensive to own a home especially after equity is
built up.
• Outstanding
loans will not prevent you from getting a mortgage if you fall within some
lenient guidelines
• With
a credit pre-approval in hand you can close a mortgage loan in the time it
takes to get an appraisal
• Late
pays on your credit score may not lower it enough to prohibit your getting
a loan
• Your
Lake Realty Realtor/Agent is happy to help you through the process
False
• You
need a savings account with at least 20% of the purchase price of a home to
use as a down-payment.
• Owning
a home is much more expensive than renting one.
• Outstanding
loans will prevent you from getting a mortgage loan.
• College
loans and late payments on cars and credit cards will prevent you from getting
a home loan.
• It's
difficult for minorities to obtain a home loan.
• The
mortgage process is long and drawn out and very stressful.