Mortgage myths and misconceptions [#281]
From deposits and pre-approvals to offset accounts and paying off your loan, there’s no shortage of misconceptions around mortgages.
On this episode of the Friends With Money podcast, Money’s Tom Watson is joined by Jack Elliott, mortgage broker and national first home buyer specialist at Alcove and First Home Unlocked, to bust some of the most common mortgage myths.
00:00 Introduction
01:48 Do you need a 20% deposit to buy a home?
06:38 Does mortgage pre-approval guarantee loan approval?
10:22 Is the lowest home loan rate always the best deal?
13:36 Are offset accounts always worth it?
17:29 Should you pay off your mortgage in full if you can?
19:31 Conclusion
#friendswithmoney #tomwatson #jackelliott #mortgages
Podcast Links:
Listen on Apple Podcasts: https://apple.co/3mV0Cbr
Listen on Spotify: https://spoti.fi/3fSPI2h
Website: https://moneymag.com.au
Email: podcast@moneymag.com.au
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