Truth Over TikTok Trends

In today’s fast-paced market, misinformation spreads faster than listings on Zillow. From viral TikTok “mortgage hacks” to outdated loan advice, buyers often come to the table with myths that can kill deals before they even start.

That’s why we launched our “How to Partner Smarter” Series – designed to empower Realtors and clients with real, actionable mortgage knowledge.

At Edwin Mortgage Team at Edge Home Finance, we believe the right education turns hesitant buyers into confident homeowners. Let’s tackle the 7 buyer myths we hear most often – and how you can help bust them early.

Myth #1: “You need 20% down to buy a home.”

This myth is as old as 30-year fixed rates.

Reality: Many qualified buyers close with as little as 0–5% down using today’s flexible programs:

  • VA loans: 0% down for eligible veterans
  • USDA loans: 0% down in rural areas
  • FHA loans: 3.5% down – even with a 580 credit score
  • Conventional loans: just 3% down for first-time homebuyers and 5% down for repeat homeowners

With today’s programs, a 20% down payment is optional – not required. In fact, waiting to save that much could mean losing purchasing power or missing out on rising home values.

✅ Pro Tip: If your buyer is saving for a 20% down payment, they may be sitting on the sidelines longer than necessary. Have them talk with us about low-down or no-down options that can get them into a home sooner and keep deals moving.

Myth #2: “You need perfect credit to get approved.”

Reality: At Edwin Mortgage, we help borrowers every day who thought they “weren’t ready.”
We offer:

  • FHA and VA loans down to a 500 credit score
  • Bank statement and 1099 programs for self-employed clients
  • Credit coaching to help improve scores before applying – start your personalized plan today with our free tool, the Edge Loan Advisor

With this secure app, you can track your credit, set savings goals, and prepare financially for homeownership – all in one place.

Partner Smarter Tip: Share a “Credit Myth Monday” post to educate your audience – we’ll even help you craft one!

Myth #3: “Pre-qualification = pre-approval.”

Reality: Not even close.
A pre-qualification is a quick estimate.
A pre-approval is verified with income, assets, and credit – giving your buyer a stronger offer in competitive markets.

Agent Advantage: Always insist your buyers get fully underwritten pre-approvals before touring homes. It prevents heartbreak later and helps you win offers faster.

Myth #4: “I should wait until rates drop.”

Reality: Waiting on rates could cost buyers more in home price appreciation and lost equity than they’d ever save in interest.

Smart Strategy: We often recommend clients marry the home, date the rate — meaning buy when you find the right home and refinance later when rates improve.

Myth #5: “If I’m self-employed, I can’t get a mortgage.”

Reality: Self-employed buyers are often more qualified than they realize.
We offer:

  • Bank statement loans
  • 1099-only income verification
  • No-income investor programs (DSCR)

We’ve closed deals for entrepreneurs, contractors, and gig workers who were turned down elsewhere. If they earn it, we can usually document it.

Myth #6: “VA and FHA loans are harder to close.”

Reality: Not with the right team. Many Realtors shy away from VA or FHA buyers due to outdated myths about appraisals or delays. But with Edge Home Finance, the largest VA mortgage broker in the country, we close VA loans faster than most conventional deals.

We’re proud to serve veterans and make the process smooth from start to finish.

Myth #7: “My lender doesn’t matter – all rates are the same.”

Reality: The lender you choose can make or break a deal.

At Edwin Mortgage Team, we shop dozens of lenders through Edge Home Finance, ensuring:

  • Competitive rates across multiple wholesale partners
  • Faster closings with clear communication
  • Creative solutions for unique buyers

When Realtors and lenders communicate early, deals close cleaner and faster.

Partner Smarter Tip: Educate to Dominate

Want to stand out in your market? Share a “Myth Monday” post each week.
We’ll help you craft short, client-friendly scripts that boost engagement and position you as the trusted expert.

It’s a simple way to build credibility and trust – while giving your audience real value.

About the Edwin Mortgage Team at Edge Home Finance

We’re Jammi Cash and Nathan Jordan, a husband-and-wife mortgage team proudly serving Alabama, Georgia, and Florida from our office at:
7 Snow Street, Oxford, AL 36203

With Edge Home Finance (NMLS #891464) – the nation’s largest VA mortgage broker with over 1,000 loan officers – we combine local service with national strength.

We specialize in:

  • FHA & VA loans (down to 500 credit score)
  • Conventional, USDA & Jumbo
  • Self-Employed: Bank Statement & 1099 Options
  • Investor Loans: Fix & Flip, DSCR, No-Income Primary
  • ITIN & Foreign National Programs

We believe Realtors deserve a lending partner who communicates clearly, solves problems fast, and helps close more deals with confidence.

Ready to Partner Smarter?

Whether you’re a first-time buyer or an experienced agent, our mission is simple:
Educate. Empower. Close with confidence.

Contact the Edwin Mortgage Team today to bust myths, unlock solutions, and make your next home purchase or sale seamless.

FAQ – Buyer Myth Busting

Q1: Can I buy a home with bad credit in Alabama?
Yes! We offer FHA and VA loans down to a 500 score and credit improvement guidance.

Q2: Do FHA or VA loans take longer to close?
Not with us. Our streamlined process often matches or beats conventional timelines.

Q3: What’s the difference between pre-qualification and pre-approval?
Pre-qualification is a basic estimate. Pre-approval verifies your full financial picture – and strengthens your offer.

Q4: Can self-employed or 1099 workers qualify for a mortgage?
Absolutely. We have bank statement and 1099-only options designed for entrepreneurs.

Q5: Why should Realtors partner with Edwin Mortgage Team?
Because we help you close more deals faster, with clear communication and creative lending solutions backed by Edge Home Finance’s national resources.

How to Partner Smarter Series: The 7 Buyer Myths That Kill Deals (and How to Bust Them Early)

By Nathan Jordan, NMLS #2670112

edwinmortgage.com   256-371-6811

Edwin Mortgage Team at Edge Home Finance | NMLS #891464