5 Home Buying Myths: Set Your Clients Straight » Mortgage Masters Group

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Financial Finesse Contributor Group. With housing prices on the rise and mortgage rates set to drop after the recent announcement that the. Here are some home buying myths that can lead to big mistakes:. generally take 5-7 years just to break even with the costs of buying, owning, and selling a home.

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But lenders like to see stability when they mull over applications for credit from potential customers, and staying in the same home. loan to buy a car, meeting the repayments over the course of.

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The HELOC strategy says you can pay off your mortgage early in just a few years.. On closer inspection, the HELOC method looks to be more of a myth than anything else.. You add a HELOC to your home, preferably one with a debit card.. my principal & now have a remaining balance of $64,000 at a 5% interest rate.

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