As part of the continuing Fact vs. Fiction series, Nicole talks about the facts and fiction of home loans. Listen to this 7-minute episode, play again until it sticks.
A preview:
Fact 1 - call your lender firstFiction 1 - assume the best loan for them is with 20% down or minimum down.Fact 2 - you have the power to affect your monthly payment.Fiction 2 - renting is not more cost-effective unless you are only looking at the immediate short term. You want to pay your OWN mortgage, not your landlord's.Fiction 3 - getting a home loan isn't possible unless everything is lined up or perfect.