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...
š„ CRE Credit Crunch 2025: Debt Pressure Mounts as Office Sector Falters š¢
š„ CRE Credit Crunch 2025: Debt Pressure Mounts as Office Sector Falters š¢
šØ Commercial Real Estate Distress Hits $116B: Is the System Cracking? šø
CRE Credit Distress Accelerates as Office Woes Deepen
Americaās commercial real estate market is heading into choppy waters. Distress levels are rising sharply, and cracks in the financial foundation are no longer just isolated to office buildingsāthey're spreading.
š $116 Billion in Trouble:
According to MSCI, commercial real estate (CRE) distress climbed to $116 billion as of March 2025, up 23% year-over-year. Thatās the highest level since the global financial crisis. Delinquencies are risingāalbeit at a slower paceāyet the systemic risk is growing.
š¢ Office and Multifamily Under Fire:
The office sector remains the epicenter of CRE woes. A combination of remote work, stalled leasing activity, and uncertain economic policy is hammering demand. The Fedās Beige Book flagged weakness across both office and industrial leasing markets. Whatās more alarming: multifamily is now feeling the strain too, with past-due and nonaccrual loan levels hitting highs not seen since 2014, according to the FDIC.
š¦ Banks Are Backpedaling:
Deutsche Pfandbriefbank, a major German lender, is pulling out of U.S. commercial real estate altogether, aiming to offload $4.7 billion in loans. U.S. banks are extending loan maturities rather than recording lossesāeffectively kicking the can down the road. With $410 billion in unrealized securities losses looming, this strategy is delaying the inevitable.
š¼ Private Lenders Fill the Void (But At What Cost?):
Private debt funds and non-bank lenders are stepping in, but regulators are warning they may not be equipped to weather a credit crunch. The Financial Stability Board has cautioned that these players could amplify systemic risk in a downturn.
š Foreign Capital May Dry Up:
A proposed Section 899 tax could severely impact foreign investment in U.S. CREāadding more pressure to an already fragile market.
š The Big Picture:
This isnāt just an office problem or a regional bank issue anymore. Itās systemic. Debt maturities, weak leasing demand, regulatory pressure, and capital flight are converging. For borrowers and investors, navigating the CRE market in 2025 will require strategic refinancing, flexibility, and expert guidance.
š Need help evaluating your options in a distressed market?
Our team at Medallion Mortgage can help you refinance commercial loans, identify bridge lending solutions, and source private capital where traditional lenders fall short.
https://www.billrapponline.com/
https://findamortgagebroker.com/Profile/WilliamRappJr28883
https://billrapp.commloan.com/
https://billrapponline.com/financingfuturescre-houston-katy
https://houstoncommercialmortgage.com/
https://author.billrapponline.com
https://doctorvideo.billrapponline.com/
https://veteransvideo.billrapponline.com/
https://mortgageviking.billrapponline.com/
https://fha203h.billrapponline.com/
https://renovationvideo.billrapponline.com
https://medallionfunds.com/bill-rapp/
https://www.amazon.com/dp/B0F32Z5BH2
Ā© 2023-2024 Bill Rapp, Medallion Funds LLC, Director of Capital Advisory
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
š§® Renovation ROI Calculator
š ļø Renovation ROI Calculator š°
Copyright Ā©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/