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Meet Bill Rapp
NMLS ID # NMLS # 228246
William Rapp, based in Houston, TX, US, is currently a Capital Advisor at Medallion Funds, bringing experience from previous roles at eXp Commercial, NEXA Mortgage, Viking Enterprise LLC and Sun Realty - Houston. William Rapp holds a 1997 - 2001 BBA in Finance @ Texas A&M University. With a robust skill set that includes REO, Sellers, SFR, FHA financing, Reverse Mortgages and more, William Rapp contributes valuable insights to the industry.
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Great experience purchasing our first home! Bill was easy to reach and always able to answer any questions or concerns.
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📚 Top 5 Mortgage Mistakes High-Income Earners Make (and How to Avoid Them) 💸
📚 Top 5 Mortgage Mistakes High-Income Earners Make (and How to Avoid Them) 💸
💼 High Earner Mortgage Mistakes to Avoid in 2025 🏡 | Smart Loan Tips
📚 Top 5 Mortgage Mistakes High Earners Make (and How to Avoid Them)
When you’re a high-income earner, securing a mortgage might seem like a straightforward process. After all, strong salaries, bonuses, and investment income should make approvals easy, right? The reality is that many doctors, attorneys, business owners, and other professionals fall into common mortgage traps that cost them time, money, and even opportunities.
Here are the top 5 mortgage mistakes high earners make—and how you can avoid them:
1. 💳 Ignoring Debt-to-Income Ratios
Even with a high salary, carrying excessive student loans, car payments, or business debts can throw off your debt-to-income (DTI) ratio. Lenders weigh this ratio heavily when approving loans.
✅ Tip: Pay down high-interest debt and avoid new credit lines before applying for a mortgage.
2. 📝 Relying Too Much on Variable Income
Bonuses, commissions, and investment returns often fluctuate. Many lenders require a two-year history of these income streams to count them toward qualifying.
✅ Tip: Work with a mortgage broker who can place you with lenders that understand high earner income structures.
3. 🏦 Not Shopping Beyond Your Primary Bank
High earners often assume their bank offers the best deal. In reality, banks may offer limited loan products compared to mortgage brokers.
✅ Tip: Compare multiple lenders through a broker to find the most competitive rates and programs.
4. 🛑 Overlooking Specialty Loan Programs
Doctors, dentists, and self-employed professionals often qualify for unique mortgage programs with little money down and no private mortgage insurance (PMI).
✅ Tip: Ask your broker about physician loans, jumbo loan options, or bank-statement loans designed for entrepreneurs.
5. 💡 Waiting Too Long to Get Pre-Approved
Even with high income, sellers and agents want proof of funds. Waiting until the last minute to get pre-approved can cost you your dream home in a competitive market.
✅ Tip: Get pre-approved early to strengthen your offer and streamline the closing process.
🚀 Final Thoughts
Earning more doesn’t mean qualifying is easier—it often means your financial picture is more complex. By avoiding these common mortgage mistakes, high earners can save thousands and secure their dream homes with confidence.
👉 Ready to explore your options? Connect with Medallion Mortgage today and let’s find the right solution tailored to your income and goals.
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Copyright ©2021 | Mortgage Viking Team
Licensed to Do Business | NMLS # 228246
This is not an offer to enter into an agreement. Not all customers will qualify. Information, rates and programs are subject to change without notice. All products are subject to credit and property approval. Other restrictions and limitations may apply. Copyright © 2021 | Medallion Funds
Corporate | NMLS ID NMLS # 1825831
Corporate Address : 2651 N. Green Valley Pkwy STE. 101 Henderson, NV 89014
Corporate NMLS NMLS # 1825831 | Company Website: https://medallionfunds.com/bill-rapp/
Copyright ©2021 | Mortgage Viking Team Licensed to Do Business | NMLS # 228246
This is not an offer to enter into an agreement. Not all customers will qualify. Information, rates and programs are subject to change without notice. All products are subject to credit and property approval. Other restrictions and limitations may apply
Corporate | NMLS ID NMLS # 1825831
Corporate Address : 2651 N. Green Valley Pkwy STE. 101 Henderson, NV 89014 https://medallionfunds.com/bill-rapp/
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