Selling South of Boston l Episode 3: What Buyers Are Getting Wrong About Mortgages Right Now | South Shore Edition
Think you need 20% down to buy a home? Waiting for rates to "drop" before making a move? Assuming your monthly payment is the only number that matters?
In this episode of the Selling South of Boston Podcast, Kim, Renee & Laura break down the biggest mortgage misconceptions buyers are making right now—especially here on Massachusetts' South Shore.
The truth? Bad mortgage advice is everywhere, and believing the wrong thing could cost you the home you want… or thousands of dollars over time.
In this episode, we cover:
🏡 The biggest mortgage myths buyers still believe
· "I need 20% down to buy."
* "I should wait until rates come down."
* "Getting pre-qualified is the same as being fully pre-approved."
* "The cheapest monthly payment always means the best loan."
* "Online calculators tell me exactly what I can afford."
💰 What buyers are missing financially
· Closing costs buyers forget to budget for
* Escrow, taxes, homeowners insurance & PMI explained
* Why debt-to-income ratio matters more than many realize
* How credit score changes can impact your rate right before closing
📍 South Shore / Massachusetts buyer realities
· Property taxes vary town to town
* Flood insurance considerations for coastal communities
* Septic vs sewer impacts on homeownership costs
* Condo fees and special assessments buyers often overlook
* Why local lending strategy matters in competitive Massachusetts markets
🔥 The truth about interest rates Should you wait? Refinance later? Buy now and negotiate smarter? We unpack what buyers should actually be asking instead.
🎯 What makes your offer stronger (beyond price)
· Local lender vs big online lender
* Strong pre-approval letters
* Financing timelines
* Clean offers vs risky financing terms
If you're planning to buy anywhere on the South Shore, Plymouth, Duxbury, Kingston, Marshfield, Sandwich, Bourne, Cape Cod, or surrounding Massachusetts communities, this episode is packed with real-world advice.
Connect With Selling South of Boston
📍 South Shore Massachusetts Real Estate Experts 🌐 www.sellingsouthofboston.com [http://www.sellingsouthofboston.com/] 📲 Follow us on Instagram: @sellingsouthofboston
Thinking about buying or selling? Reach out—we'd love to help.
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