Myth 1: It's impossible to buy a house today with less than perfect credit.

If you have perfect credit, a big applause to you! For the rest of us borrowers with less than perfect credit, very often we are able to get an affordable mortgage. Sure there are caveats, but the only sure way to know is to discuss your specific situation with an experienced lending team like the Sherman Team. We work to find the right solution for you. That may include a FHA, VA, an ARM, or even a Fixed-Rate Mortgage. Schedule an appointment to discuss the options that are best for you .

Myth 2: 30-year fixed mortgages are always best.

It depends. How long do you plan to stay in the house? If it’s less than five to seven years, an ARM may be better for you. If you are near retirement age a 15-year fixed mortgage with no prepayment penalties might be just the ticket. Schedule an appointment to discuss the options that are best for you .

Myth 3: The lender with the lowest interest rates is always the best choice.

Your mortgage interest rate is very important. So are fees, the reputation of the lender and high-quality customer service. You deserve peace of mind knowing all your questions will be answered during the process and your lender is looking out for your best interests. Schedule an appointment to discuss the options that are best for you .

Myth 4: "Affordable" means anything that keeps your debt ratio under 36%.

Actually, this is a consideration for your lender. Your priorities must also include closing costs, a maintenance fund and an emergency fund. The house is only affordable if you can afford to stay in it. Schedule an appointment to discuss the options that are best for you . Then you and your realtor can shop for the best home to fit your budget.