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5 Mortgage Myths Waterloo Buyers Still Believe (and the Truth!)

5 Mortgage Myths Waterloo Buyers Still Believe (and the Truth!)

Let’s bust some myths — because bad info can cost you serious money.

Myth #1: You need 20% down

Reality: You can buy with as little as 5% down (with mortgage insurance).

Myth #2: A pre-approval means you’re guaranteed a mortgage

Reality: Nope. It’s conditional, and things can still change before closing.

Myth #3: Fixed is always better

Reality: Depends on your goals. Sometimes variable can save you thousands.

Myth #4: You should always go with your bank

Reality: Mortgage brokers (like me!) have access to multiple lenders and better options.

Myth #5: Renting is always cheaper

Reality: Not in today’s market. Ownership often builds equity faster than you think.


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