As real estate agents, you're often the first stop on a buyer’s journey—and that means you're also the first to hear some seriously outdated ideas about home financing. As you probably know, these myths can delay decisions, create unnecessary anxiety, and even derail deals. Here are three of the most common lending myths I hear, and how you can help your buyers get the facts straight:

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

Truth: There are loan programs that allow for as little as 3% down—and in some cases, zero down. Many buyers don’t realize how accessible homeownership really is until someone walks them through the options.

✅ How to help: Encourage buyers to talk to a lender early. That conversation could open doors (literally) they didn’t think they could afford to walk through.

🔍 Myth #2: “I need perfect credit to qualify.”

Truth: While credit is important, there’s a wide range of loan options for buyers with average or even below-average scores. Plus, credit can often be improved quickly with a few simple adjustments and a rapid rescore done by a lender.

✅ How to help: If a buyer expresses concerns about their credit, reassure them that they don’t need to be perfect—just proactive. A good loan officer can help map out a plan.

🔍 Myth #3: “Pre-approval guarantees I’ll get the loan.”

Truth: Pre-approval is a crucial step, but it’s not the final green light. Changes in income, credit, or debt before closing can still affect eligibility.

✅ How to help: Remind buyers to hold off on big purchases or job changes until after the keys are in hand. And make sure they’re working with a lender who keeps them informed all the way through.

Final Thought:

As a loan officer, I see how much smoother a transaction goes when buyers are educated and confident. If you ever have a client who’s unsure or overwhelmed by the mortgage process, I’m here to help answer their questions or walk them through what’s possible.

👉 Let me help your client be better informed.

Athena Peña, NMLS #2104277

SMP Mortgage, Inc

346-315-7447

www.athenapena.com