5 Homebuying Myths That Might Be Holding You Back

Hi John, 

June is National Homeownership Month, and there's no better time to separate fact from fiction. Think you know what it takes to buy a home?

Here are 5 of the most common myths we hear. 

Guess before you read the answer:)

MYTH #1 - "You need a 20% down payment."

False - Most buyers put down far less — and at SNMC, we have exclusive products you won't find at other lenders. SNclose™ offers down payment and closing cost assistance, and SNhome™ brings options as low as 3.5% down with a forgivable second lien. You may need less cash upfront than you think.

MYTH #2 - "You need perfect credit to qualify."

False - Scores in the 580–620 range can still open doors depending on the loan type. SNMC offers Non-QM options with flexible documentation and credit requirements — meaning we look at the whole picture, not just a number.

MYTH #3 - "Renting is always cheaper than buying."

It depends — and the math might surprise you. Monthly rent vs. a mortgage payment is only part of the equation. I'm here as your mortgage 
advisor to help you run those numbers and decide what's best for you — even if that means continuing to rent for now. No pressure, just clarity.

MYTH #4 - "You have to be completely debt-free first."

False - Student loans, car payments, and credit cards don't automatically disqualify you. Lenders look at your debt-to-income ratio — not whether debt exists at all. Many of our borrowers carry debt and still close.

MYTH #5 - "The process is too complicated to figure out."

The biggest myth of all - That's literally what we're here for. SNapp Home lets you apply from your phone in minutes —it's fast, simple, and built for real life.

Whether you're ready to buy now or just curious about what's possible, SNapp Home makes it easy to take the next step. You can apply, upload documents, check your loan status, and connect with me—all from your phone.

Download SNapp Home today and see how simple the homebuying journey can be.

Sammie Garcia Mortgage Loan Originator NMLS: 2267769 Office: (801) 838-9808 Office: (801) 838-9808 sammie.garcia@snmc.com  APPLY NOW  SecurityNational Mortgage Company 433 Ascension Way, 5th Floor Salt Lake City, UT 84123  APPLY NOW  SecurityNational Mortgage Company 433 Ascension Way, 5th Floor Salt Lake City, UT 84123 O: (801) 838-9808 SecurityNational Mortgage Company (collectively “SNMC”) is an Equal Housing Lender. This is not a loan commitment as loans are subject to applicant qualification (including but not limited to income, credit worthiness, qualifying property), underwriting standards (including but not limited to interest rates, payment of points and fees), specific program guidelines, and similar. Requirements may change without notice based upon an applicant’s eligibility and/or market conditions. Lowering monthly payments on refinance transactions may result in a longer loan term or higher finance charges over life of loan. In compliance with Section 8 of RESPA, SNMC does not offer anything of value (including but not limited to marketing services, defrayed business costs), in exchange for referrals or the expectation of referrals. DBA: SN Mortgage Company in KY & VA | snmc.com/disclaimer | snmc.com/state-licensing | Co. NMLS# 3116