There
are a lot of misconceptions (a.k.a. myths) that home buyers,
especially first-timers, encounter during the process of their real
estate purchase. Here are some of the most common ones debunked.
Myth
#1: You need perfect credit to purchase a home – Not
entirely true. While an individual’s credit score definitely has an
impact on the mortgage loan approval process and the subsequent
interest rate, a perfect credit is not a requirement to secure
approval for a mortgage loan. You don’t need a flawless, clean
slate. The higher your credit score, certainly, the more options
you’ll have to find a mortgage with good interest rates.
