Potential home buyers often describe the home buying process as being complicated. And, most likely, a lot of their confusion stems from the financing side of the transaction. A lack of knowledge about what is required and how to proceed can cause otherwise qualified borrowers to become intimidated and even delay their dreams of homeownership. For example, prospective buyers often have misconceptions about down payment requirements, believing they are required to put down much more than is actually necessary. And, though calculating the size of your down payment depends on a number of factors, believing that you can’t buy a house with less than a 20 percent down payment can be enough to convince a potential home buyer that they aren’t yet ready to buy. That’s why it’s important to contact your lender to explore your options before you talk yourself out of buying. Though there is plenty of information available online – and recent research shows the internet is the primary source of information about mortgages – you can’t get an accurate appraisal of your options and price range without the help of a qualified professional. Don’t allow misconceptions to hold you back from buying the home of your dreams. More here.