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3 Common Mortgage Myths, Debunked

TheMotleyFool

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Ninety-three percent of American adults believe that owning a home is part of the American dream, and 81% believe that owning a home increases financial stability, according to a recent survey by NeighborWorks America. Unfortunately, many Americans have misconceptions about what is necessary to be able to purchase a home.

With that in mind, here are three things Americans think about the homebuying process, and the truth behind each one. If you want to buy a home, but don't think you'll be able to, you may find that some of the excuses holding you back are just that: excuses.

Image source: Getty Images.

Source: Fool.com

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