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
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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.
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DO: Consider your future plans
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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
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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.
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DO: Be prepared for unexpected expenses
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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
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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.
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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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💵 Financing Adaptive Reuse Projects: Smart Capital for Smart CRE ♻️
💵 Financing Adaptive Reuse Projects: Smart Capital for Smart CRE ♻️
🏦 How to Fund Adaptive Reuse with Construction Loans and Bridge Financing 🏗️
💵 Adaptive Reuse: Smart Financing for the Greenest Developments ♻️
By Bill Rapp – Medallion Mortgage, Commercial & Residential Financing
As the demand for sustainable, cost-efficient development rises, adaptive reuse is becoming the go-to strategy for investors and developers. But here’s the catch: financing these projects isn’t always straightforward.
At Medallion Mortgage, we help clients finance adaptive reuse projects with loan options tailored for value-add strategies. Whether it’s a church-to-retail conversion or an old hotel becoming apartments, the right loan makes all the difference.
Key Financing Tools for Adaptive Reuse:
🏦 Bridge Loans – Great for short-term repositioning until stabilized.
🧱 Renovation Loans – Especially FHA 203(k) or Fannie Mae Homestyle for residential conversions.
♻️ Green Building Incentives – Lenders love sustainable features; energy credits can lower your rate.
📈 Construction-to-Perm Loans – Finance the reno, then convert to long-term fixed.
📉 Historic Tax Credit Syndication – Great for cash flow if you're restoring historic buildings.
What Lenders Want to See:
✔️ Strong project plan with timeline & budget
✔️ Solid after-repair value (ARV)
✔️ Lease-up strategy or exit plan
✔️ Environmental & zoning clearances
✔️ Borrower experience or team strength
If you're eyeing an adaptive reuse play in Houston or beyond, let’s structure financing that turns vision into value. As both a broker and lender, I’ll help you navigate the loan maze—fast, smart, and aligned with your goals.
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