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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🩺 Doctor Loan Program Explained: Home Financing Made Easy for Physicians & Dentists 🏡
🩺 Doctor Loan Program Explained: Home Financing Made Easy for Physicians & Dentists 🏡
💰 How Doctors Buy Homes with 0% Down – The Doctor Loan Advantage 💼
Doctors and Dentists save lives — and now there’s a loan program designed to save you money.
For medical professionals juggling residency, long hours, and student loans, saving for a home can feel impossible. That’s where the Doctor and Dentist Loan Program comes in — a mortgage option designed specifically for doctors, dentists, and other high-income professionals starting their careers.
Who Qualifies
This program is available to:
·Physicians (MD, DO, DPM)
·Dentists (DDS, DMD)
·Residents and Fellows
·Veterinarians (in select programs)
Even if you’re still in training or just graduated, you may qualify with an employment contract instead of pay stubs.
Key Benefits
·3–5% down payment options
·No PMI (Private Mortgage Insurance)
·Flexible debt-to-income ratios
·Future income accepted — banks underwrite based on your signed contract
·Portfolio loan options typically structured as 5, 7, or 10-year ARMs
Doctor loans are portfolio products, meaning they’re kept in-house by lenders — allowing more flexibility than conventional loans.
Why Banks Love Doctors
Lenders view physicians and dentists as low-risk, high-potential borrowers. Even with large student loans, your earning trajectory and job stability make you an attractive client for banks.
Doctor Loan vs. Conventional Loan
Doctor loans win on flexibility — no PMI, minimal down payment, and future income acceptance.
Conventional loans, however, can still be advantageous if you prefer fixed 30-year terms or want to use 75/20 or 80/15 piggyback financing to stay conforming.
Real Example
A recent client — a first-year resident — used a doctor loan to purchase her first home near her hospital with just 3% down and no PMI. Without this program, she would have needed to rent for years before saving enough for a conventional down payment.
Closing Thoughts
Whether you’re in residency or launching your practice, the Doctor Loan Program is designed to help you achieve homeownership faster and smarter.
👉 If you’re a doctor ready to buy your dream home without waiting years to save a massive down payment, let’s talk. I’ll help you put the stethoscope down and pick up the house keys.
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