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!

Blogs

The Top 5 Mortgage Mistakes to Avoid

Buying your first home can be both exciting and nerve-wracking at the same time. With so many things to consider and....

Mortgage Do and

Do not list

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....

Tips On How To Improve Your Credit Score

Let's talk about some ways you can improve your credit score! Your credit score is actually a big deal, and it can affect...

🏢 Houston CRE Alert! Tesla’s Battery Plant & Honda’s Big Move Shake Up Industrial Real Estate! 🔥📈

🚀 How Tariffs Are Reshaping the Auto Industry: Tesla & Honda Move Fast! ⚡💰

March 10, 20252 min read

🚀 How Tariffs Are Reshaping the Auto Industry: Tesla & Honda Move Fast! ⚡💰

🏢 Houston CRE Alert! Tesla’s Battery Plant & Honda’s Big Move Shake Up Industrial Real Estate! 🔥📈

The landscape of automotive manufacturing in the U.S. is shifting as Tesla and Honda respond to the latest tariff policies. With a 1M SF Tesla battery plant coming to Katy, Texas, and Honda relocating its Civic hybrid production from Mexico to Indiana, the industry is adapting fast!

🔋 Tesla’s New Texas Megapack Factory

  • Tesla is repurposing a logistics center in Waller County into a cutting-edge battery facility to build Megapacks for renewable energy storage.

  • The factory will create 1,500 jobs and support Tesla’s expansion into sustainable energy solutions.

🚗 Honda’s Move to Indiana

  • Honda was set to build its next-gen hybrid Civics in Mexico but pivoted to Indiana due to tariffs on Mexican imports.

  • The move will boost U.S. auto production, with 210,000 vehicles produced annually once the facility is fully operational.

📉 The Tariff War & Its Ripple Effect

  • President Trump’s 25% tariff on Mexican & Canadian goods has reshaped global supply chains.

  • While automakers got a temporary exemption, that carveout expires in 30 days—sparking uncertainty in the market.

🔥 Why This Matters for CRE?

  • Houston’s industrial market is gaining momentum with Tesla’s expansion, opening doors for real estate investments in logistics & manufacturing.

  • Automakers shifting production back to the U.S. means more demand for industrial & commercial spaces in Indiana, Texas, and beyond.

💭 What do you think? Will these moves boost U.S. manufacturing or cause long-term supply chain headaches? Let’s discuss! 👇

#TeslaFactory #HondaUSA #HoustonCRE #ManufacturingBoom #USAutoIndustry #SupplyChainDisruptions #EVBatteries #TariffImpact


Looking to buy, sell, or finance commercial real estate?

Work with an experienced Commercial Real Estate & Mortgage Broker you can trust!

Call me at 281-222-0433 today!

https://www.billrapponline.com/

https://medallionfunds.com/bill-rapp/

https://billrapp.commloan.com/

https://houstoncommercialmortgage.com/

https://findamortgagebroker.com/Profile/WilliamRappJr28883

https://billrapponline.com/financingfuturescre-houston-katy

https://www.smartbizloans.com/partner/vikingenterprisellc/bill

https://doctorvideo.billrapponline.com/

https://veteransvideo.billrapponline.com/

https://mortgageviking.billrapponline.com/

https://fha203h.billrapponline.com/

https://renovationvideo.billrapponline.com/

© 2023-2024 Bill Rapp, Medallion Funds LLC, Director of Capital Advisory

Tesla battery factoryElectric vehicle expansionautomotive supply chainIndustrial real estate HoustonUS Manufacturing tariffsHonda Civic hybriroduction
blog author image

Bill Rapp - Commercial & Residential Mortgage Broker

Whether you're a first-time homebuyer, a seasoned investor, or a business owner with ambitious plans, securing the right financing is crucial. At Medallion Funds, we take the guesswork out of mortgages, offering a comprehensive suite of residential and commercial loan options to fit your unique needs. Looking for Your Dream Home? We understand the excitement and challenges of navigating the residential real estate market. Our experienced mortgage brokers will guide you through every step, from pre-qualification to closing. We offer a variety of loan programs to suit your financial situation, including: • Fixed-rate mortgages: Offering stability with predictable monthly payments. • Adjustable-rate mortgages (ARMs): Providing competitive rates for a set period. • FHA loans: Making homeownership accessible with lower down payments. • VA loans: Rewarding veterans with attractive rates and flexible terms. Investing in Your Business Future? Growth often requires capital, and we can help you unlock the potential of your commercial property. Our brokers specialize in a wide range of commercial loan options, including: • Purchase loans: Financing the acquisition of new buildings or land. • Construction loans: Facilitating the development of your project. • Refinance loans: Restructuring your existing mortgage for better terms. • SBA loans: Providing access to government-backed financing for qualified businesses. The Medallion Funds Difference: We go beyond simply finding a loan. We take the time to understand your goals and develop a personalized strategy. Here's what sets us apart: • Expertise: Our brokers have a deep understanding of both residential and commercial lending. • Competitive Rates: We leverage our strong lender relationships to secure the best possible terms. • Streamlined Process: We handle the paperwork, keeping you informed every step of the way. • Exceptional Service: We're committed to providing you with a positive and stress-free experience. Ready to Take the First Step? Contact Medallion Funds today for a free consultation. Let's discuss your financing needs and help you achieve your dreams!

Back to Blog

10 Tips for First-Time Homebuyers

Buying your first home can be both exciting and nerve-wracking at the same time. With so many things to consider and....

How To Choose the Right Lender for You

Lorem Ipsum is simply dummy text of the printing and typesetting industry. Lorem Ipsum has been the industry's standard dummy

Refinancing youe loan and when to do it

Lorem Ipsum is simply dummy text of the printing and typesetting industry. Lorem Ipsum has been the industry's standard dummy

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/