7 Mortgage Myths That Refuse to Die For an industry that's been around as long as mortgages have, it's amazing how much bad information continues to circulate. Almost every week I have a conversation with a buyer who has delayed purchasing a home, missed an opportunity, or created unnecessary stress because they believed something they heard from a friend, family member, coworker, or even social media. The problem isn't that people are intentionally spreading bad information. Most of the time they're repeating advice that may have been true years ago, applied to someone else's situation, or simply wasn't accurate to begin with. As a mortgage lender working with buyers across Florida every day, I've seen these misconceptions cost people time, money, and opportunities. Let's clear up seven mortgage myths that simply refuse to die. Myth #1: You Need 20% Down to Buy a Home This might be the biggest mortgage myth of them all. Many buyers are shocked when I ...