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
.
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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💳 “Top Credit Score Myths Destroying Your Mortgage Approval 🚫”
💳 “Top Credit Score Myths Destroying Your Mortgage Approval 🚫”
⚠️ “Stop Believing These Credit Score Lies — They’re Costing You Thousands 💸”
💳 Credit Score Myths That Are Killing Your Loan Approval — and How to Fix Them
When it comes to qualifying for a mortgage in 2026, your credit score is still the #1 factor lenders evaluate first—yet most borrowers sabotage themselves because they believe outdated or flat-out wrong information.
As a mortgage broker at Medallion Funds, I see this every single day. Great people… good income… solid savings — but denied or given higher rates because they were following bad credit advice.
Today, we’re breaking down the biggest credit score myths holding borrowers back — and how to fix them fast so you can qualify for the best rates and mortgage programs.
✅ Myth #1: “Checking my credit will make my score drop.”
Reality: A soft pull does nothing to your credit score.
Soft pulls = checking your own score, monitoring apps, getting pre-qualified.
Hard pulls only occur when applying for credit, and even then:
• Mortgage inquiries within a 45-day window count as one inquiry
• The impact is usually 3–5 points — not 50
Fix:
Get pre-approved early so you know where you stand.
✅ Myth #2: “I need to carry a balance to build credit.”
Reality: Carrying a balance costs interest — and does not help your score.
The key is credit utilization, and the rule is simple:
✔ Keep balances under 30%
✔ Under 10% is ideal
✔ Zero balance is perfectly fine
Fix:
Pay cards down before the statement date, not the due date.
✅ Myth #3: “Closing old accounts will improve my score.”
Reality: Closing old accounts often lowers your score.
Why?
You lose:
• Your longest history
• Available credit limits
• Utilization ratio
Fix:
Keep older accounts open — even if you never use them.
✅ Myth #4: “All credit scores are the same.”
Reality: There are over 30 different versions of your score.
Lenders use mortgage-specific FICO models, not the scores shown on apps like:
• Credit Karma
• Experian Boost
• Bank apps
Fix:
Ask your mortgage broker for a tri-merge mortgage credit report — the only score that matters for home loans.
✅ Myth #5: “My income matters more than my credit score.”
Reality: You can make great money and still get denied.
Credit is the gateway to:
• Better rates
• Lower fees
• Low-down-payment programs
• NO-PMI mortgage options
Fix:
Work on your credit early — ideally 3–6 months before applying.
👉 The Bottom Line
Most borrowers don’t fail because of income…
They fail because of misinformation.
If you want a tailored credit and loan strategy — especially for doctors, self-employed buyers, first-time homebuyers, or investors — reach out to me at Medallion Funds.
Smart prep wins loans.
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