Buying a house for the first time can be stressful, especially if you are getting conflicting advice. The following are some myths you may have heard.

1. You Need Almost Perfect Credit

A good credit score will help you get the house you want, but you don’t need to be perfect. While some loans may require a score above 620, a score of 580 is enough for others.

2. You Only Need Enough Savings for the Down Payment

A down payment is not the only upfront cost you will have. On top of this, some lenders require a couple of months’ worth of payments in savings.

3. You Shouldn’t Have Too Many Credit Checks

Multiple inquiries can lower your credit score, so you may think it’s better not to get too many offers. However, if multiple lenders check your credit within 30 days, it only counts as one inquiry.

4. Buying is More Expensive Than Renting

While there may be more initial costs when buying a house, it is less expensive in the long run. In some cases, monthly rent can cost as much as paying a mortgage.

5. There Is a Fixed Down Payment Rate for Every Mortgage

A 20 percent down payment was once a common minimum, but this has changed. You may only need a 10 percent down payment, and this can be even lower if you have a high credit score.

6. You Should Buy a Home Based On Your Approved Loan

You might think that you should buy what you can get, but purchasing a home worth your maximum loan can be a bad idea. Higher mortgage payments can make it difficult to live comfortably.

7. You Can Save Money by Buying a Fixer-Upper

Buying a home that needs some work can initially cost you less. However, you should consider the price of renovations.

8. A Real Estate Agent is an Unnecessary Expense

Using a real estate agent can make the process easier for you. While they do get a commission, the seller is usually the one who pays it.

9. Newer Homes Don’t Need Inspections

Not having the house inspected may save some money, but that doesn’t mean it’s a good idea. Even new houses can have problems, and it is best to find them before making a purchase.

10. You Shouldn’t Get an Adjustable Rate Mortgage

Sometimes, this type of mortgage can be preferable. If you plan to move within five years, or if you plan to pay off the mortgage at that time, this may be a good choice.

There are many things to consider when buying a house. Disregarding any false information can make the process easier.