Felipe Pacheco from Primary Residential Mortgage, Inc. separates the facts from fiction when it comes to buying a house. He's been with the company for 13 years. As a graduate of Tooele High School, Felipe understands the market in Utah.
Pacheco says when it comes to myths, one of the biggest one is about down payments. Many people believe you need 20 percent down. But that is false, there are many options for lower down payments.
You don't need perfect credit to qualify for a mortgage either. There are many programs available for people who have less than perfect credit scores.
Pacheco says monthly or annual income is not the only thing that determines the amount that can be borrowed. Debt load is an important factor in how much you can qualify for.
If you have questions... you can find answers with Primary Residential Mortgage, Inc.