Home Buying Myths Myths about Mortgages Myth... I had some debt several years ago and I ruined my credit.  I'll never get a mortgage. Fact... You don't know what your credit history shows until you look.  And if you do have blemishes from the past, even bankruptcy, many lenders will overlook problems if the past two years show good credit practice on your part. Myth... I heard you need to put 25% down to buy a house.  But my friend says that you can get a mortgage with no down payment at all! Fact... Both scenarios are uncommon.  Although there are a variety of financing programs available, most require you to put at least 5-10% down, but rarely would you need 25%. Phone: 320.587.7969 Email: Homes@LindahlRealtors.com Visit: www.LindahlTeam.com Serving Hutchinson, MN and surrounding areas. Coldwell Banker Burnet 700 Highway 55 East Buffalo, MN 55313

Myths about Realtors Myth... If I have several Realtors looking for homes on my behalf, I'll find a house more quickly. Fact... Like most relationships, this one thrives on communication, loyalty and trust.  By working exclusively with one Realtor, you will improve both the process and the results. Myth... If I want a Realtor to represent me as a buyer, I'll have to pay them myself. Fact... Buyer representation means that the Realtor you select works with your best interests in mind.  In most cases however, they receive a portion of the commission paid by the seller. Myths about Buying Myth... I should find a new home first, before I sell the one I now have. Fact... If you find a buyer for your home first, you'll have more negotiating power in both the sale of your current home and the purchase of a new one. Myth... I just made an offer on a house I love, but so did several other people.  I'm worried that someone else will outbid me and get it. Fact... Different sellers are motivated by different things.  In addition to price a seller will look at the other terms of the offer, contingencies, closing date and required repairs.  Many times, a "clean" offer from a pre-approved buyer will be more attractive, even if the price is slightly lower.

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