If you’re applying for a mortgage for the first time, you’ve probably heard at least some of the myths listed below. Now, while seeking help from a mortgage broker can definitely simplify the process and make it more manageable, it’s also helpful to try and get a better understanding of mortgage procedures yourself, and by debunking 5 common untruths about them, you should feel a little more mortgage savvy:

Paying off a mortgage quickly is something that most Canadians would love to be able to do, and being debt-free is a dream for us all. Not only is mortgage debt a financial burden, but it’s one that can put intense stress on you in many other ways, too.

Being self-employed can be a great way to earn a living doing the things you love or are great at (or both), and for as many as 13% of Canadians, that’s exactly what they’re doing.

Canada welcomes thousands of newcomers every single year, and recent statistics have shown that as many as one in five home buyers are new to the country.