Mortgage Do's And Don'ts
Mortgages can be tricky, and it's easy to make mistakes that can end up costing you dearly. That's why we've put together this list of Mortgage Do's and Do not's to help you navigate the process with ease - and a little bit of humor.
DO: Shop around for the best mortgage rates
DON'T: Assume your bank will give you the best rate just because you have a checking account there. Remember, loyalty is a two-way street.
DO: Have a budget in mind
DON'T: Get in over your head. Just because you can technically afford a million-dollar mansion doesn't mean you should buy one. You don't want to be house-poor and unable to afford groceries.
DO: Get pre-approved before house-hunting
.
DON'T: Assume you'll be approved for a mortgage just because you have good credit. Pre-approval is important because it gives you a better idea of how much house you can afford and shows sellers that you're serious.
.
DO: Consider your future plans
.
DON'T: Assume you'll live in your new house forever. Life happens, and you may need to sell sooner than you think. Make sure you're not getting into a mortgage that you can't realistically afford if you need to move in a few years.
DO: Get pre-approved before house-hunting
.
DON'T: Assume you'll be approved for a mortgage just because you have good credit. Pre-approval is important because it gives you a better idea of how much house you can afford and shows sellers that you're serious.
.
DO: Consider your future plans
.
DON'T: Assume you'll live in your new house forever. Life happens, and you may need to sell sooner than you think. Make sure you're not getting into a mortgage that you can't realistically afford if you need to move in a few years.
DO: Read the fine print
.
DON'T: Sign on the dotted line without reading the terms and conditions. There may be hidden fees or clauses that could come back to haunt you later.
.
DO: Be prepared for unexpected expenses
.
DON'T: Assume everything will go smoothly. There may be unforeseen expenses, like a leaky roof or a broken furnace, that can quickly drain your savings. Be sure to budget for these types of surprises.
DO: Read the fine print
.
DON'T: Sign on the dotted line without reading the terms and conditions. There may be hidden fees or clauses that could come back to haunt you later.
.
DO: Be prepared for unexpected expenses
.
DON'T: Assume everything will go smoothly. There may be unforeseen expenses, like a leaky roof or a broken furnace, that can quickly drain your savings. Be sure to budget for these types of surprises.
DO: Have a good sense of humor
.
DON'T: Take everything too seriously. Yes, buying a house and getting a mortgage can be stressful, but try to find the humor in the situation. After all, laughter is the best medicine for a stressful day.
.
By following these Mortgage Do's and Do not's, you'll be well on your way to successfully navigating the mortgage process - with a smile on your face. Good luck, and happy house hunting!
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š§¾ Commercial Financing 101: Choosing Between LLC and REIT Structures š§
š§¾ Commercial Financing 101: Choosing Between LLC and REIT Structures š§
š¼ REITs or LLCs? A Lenderās View of Real Estate Investment Structures š
šø LLC vs. REIT: Whatās the Best Investment Structure for Financing Real Estate?
At Medallion Mortgage, we work with business owners, developers, and real estate investors across the U.S. who are navigating one major decision: should I finance this property through an LLC or buy into a REIT?
The answer can impact your financing options, tax liability, and long-term return.
š¦ LLC Financing Insights
If you're purchasing or refinancing under an LLC, youāre treated as a direct real estate owner. This gives you access to tailored financing:
DSCR loans for investment properties
Bank statement loans for self-employed borrowers
Commercial bridge loans for value-add projects
Easier execution for 1031 exchanges
But lenders will underwrite the LLC structure carefully. Be prepared with an operating agreement, business financials, and a solid asset plan.
šļø REIT Investment & Lending
REITs are typically financed at a corporate or institutional level. If youāre investing in a REIT, you may not be applying for a loanāyou're buying shares. However, for developers looking to form a REIT or raise capital through one, the conversation shifts to syndication, SEC regulations, and large-scale financing tools like:
Non-recourse loans
CMBS financing
Private equity lending
REITs often offer passive access to professionally managed properties, but you trade control for liquidity and scale.
š¼ So Whatās Right for You?
Use an LLC if you:
Want control
Plan to hold and operate a commercial property
Need flexible financing or refinance tools
Consider a REIT if you:
Want passive income and diversification
Are raising investor capital for a larger portfolio
Donāt want to be hands-on with property management
At Medallion Mortgage, we help structure the dealāand the loanāfor maximum return and flexibility.
š© Reach out for a consultation at BillRappOnline.com or Medallion Mortgage.
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