https://blog.cfcmtg.com/tags/mortgage-myths/Recent content in Mortgage Myths on Coastal Funding BlogHugoen-usWed, 21 Oct 2026 07:00:00 -0500https://blog.cfcmtg.com/posts/scary-mortgage-myths-halloween-2026/Sun, 18 Oct 2026 00:00:00 +0000https://blog.cfcmtg.com/posts/scary-mortgage-myths-halloween-2026/<p><strong>The biggest mortgage myths are that you need 20% down, perfect credit, and a perfect time to buy. They don&rsquo;t hold up. Many loans allow 0% to 3.5% down, government-backed programs have flexible credit rules, and waiting has risks too. Here are five scary mortgage myths, busted, plus where rates stand this October.</strong></p> <h2 id="key-takeaways">Key Takeaways</h2> <ul> <li><strong>You don&rsquo;t need 20% down.</strong> Conventional loans can start at 3%, FHA at 3.5%, and eligible VA and USDA borrowers may put 0% down.</li> <li><strong>Credit doesn&rsquo;t have to be perfect.</strong> FHA guidelines are built to be flexible.</li> <li><strong>Rate shopping won&rsquo;t haunt your credit.</strong> Multiple mortgage inquiries in a short window generally count as one.</li> <li><strong>Rates:</strong> Freddie Mac&rsquo;s 30-year average was 7.40% the week of October 15, 2026.</li> <li><strong>Investors</strong> may qualify on rental income with a DSCR loan.</li> </ul> <p>Halloween is the one time of year when a little fright is fun. Buying a home shouldn&rsquo;t be scary, though. Below, we bust five of the most common mortgage myths, share where rates stand, and lay out the tricks and treats of buying a home this fall.</p>