The happy path to securing a mortgage is, unfortunately, often accompanied by well-meaning advice that might not fit your situation. While the intentions behind such advice are good, it's essential to separate fact from fiction before making crucial decisions.
We're here to debunk some of the worst mortgage advice that often circulates.
Mortgage pre-approval is a waste of time
Why you might hear this: Early stages of home shopping might seem premature for a mortgage commitment.
Why it's poor advice: Although not an official guarantee, a pre-approval can save you from future headaches. Pre-approval not only prevents heartbreak over unaffordable homes but also provides an edge in competitive markets.
