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Financing Your Home >Mortgage Myths
Nationwide surveys indicate that a large number of potential home buyers count themselves out of the market because of widely-held myths about home financing.
Some of the most prevalent myths include: 1) home buyers need large down payments (more than is actually the case); 2) the loan process works against people under age 35; 3) owning a home is more expensive than renting; and 4) minorities have no chance of getting a mortgage.
The surveys found that many people view the mortgage process as "difficult, stressful, and incomprehensible." Many qualified first-time buyers are unaware of special programs designed to make home ownership affordable to them. The home loan industry is always looking for new ways to dispel these myths because lenders want more business, not less. The alternatives to traditional 20% down, thirty-year fixed mortgages are astonishing. Mortgage brokers are experienced in explaining today's financing and debunking the myths.
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What is a Balloon Mortgage?
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A balloon is a short-term mortgage which requires the entire balance of the loan to be re-paid at the end of the loan term.
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Bradley E. Arnowitz PA, RPS, CLHMS 1355 Real Estate Associates, Inc. Formally, Re/Max Beach Properties 3301 N.E. 183rd Street, Suite 405 Aventura, FL 33160 24/7: 305.776.6113 Facsimile: 305.402.0707 Brad@ArnowitzProperties.com ClientCare@ArnowitzProperties.com
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Founder, The Institute for Luxury Home Marketing
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Voted "Best Local Realtor" Miami Sun Times
Miami Beach Area Council Chair, Realtor Association of Miami & The Beaches 
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