You don’t have to shop around for a mortgage
Another sad truth is that so many homebuyers out there won’t shop around for the best deal, and this is an important step to avoid if you’re about to make the biggest purchase of your life, right?
Comparison shopping might get you very far, such as getting the lowest rate available on a mortgage. Only this will automatically save you thousands of dollars in interest.
So when it comes to mortgages, we highly recommend you get an estimate from a minimum of three to four lenders before deciding on anything. Look for the most advantageous deal out there and take care of your savings.
Buying is much better than renting
This is probably the biggest homebuying myth, that renting is throwing money away, while buying is the best thing you can decide upon.
However, buying a home won’t automatically lead you to greater wealth. Based on your situation, renting might make more sense.
1 thought on “8 Myths About Homebuying That Will Cost You a Fortune”
I want out of my mortgage. The fixed APR is fine, I am getting tired of being nickeled and dimed to death by my mortgage company. Seems like every time I turn around they are tacking on some kind of new fee.