Jeffrey Appel's top 4 mortgage myths

Eye on Real Estate's own Jeffrey Appel knows the mortgage business inside and out. If you have questions about your mortgage, how you can get a mortgage, or what kind of deal you've gotten, Jeffrey can help.

Did you hear something on the street about the mortgage business? Maybe it's just not true. Here are Jeffrey Appel's top four mortgage myths.

1. Mortgage money is no longer available. FannieMae, private and regional banks, institutional banks and savings banks are mostly unaffected by this event, or are still doing business with modifications to guidelines and pricing.

2. Interest rates are shooting through the roof. In actuality, mortgage rates are now at their lowest levels in more than five decades.

3. This is not a good time to buy a home. Real estate is a cyclical industry. It is ALWAYS a good time to buy!

4. Most of the mortgages granted in recent years are considered sub-prime. Loans classified as “sub-prime,” which include loans to borrowers with weak credit, loans to borrowers who do not fully document their income and/or assets, and financing at high loan to value ratios, only make up about 10% of the market (Source: Fox News).