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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Rebuild After the Storm 🏡 – How FHA 203(h) Loans Help Disaster Victims Start Fresh

FHA 203(h) Mortgage: ✅ Disaster Relief Home Loans Made Simple

October 28, 20252 min read

FHA 203(h) Mortgage: Disaster Relief Home Loans Made Simple

Rebuild After the Storm 🏡 – How FHA 203(h) Loans Help Disaster Victims Start Fresh


🏠 FHA 203(h) Mortgage: Rebuilding After Disaster

When disaster strikes, rebuilding your home and life can feel overwhelming. The FHA 203(h) loan program was created to make that process easier for individuals and families whose homes were destroyed or damaged in a federally declared disaster.

Unlike traditional loans, FHA 203(h) mortgages offer 100% financing, meaning you can buy or rebuild a home with no down payment required. This program is designed specifically for disaster-affected homeowners and renters looking to rebuild or relocate after events like hurricanes, floods, or wildfires.

🔍 Who Qualifies for the FHA 203(h) Loan?

To qualify, you must:

·Live in a federally declared disaster area verified by FEMA.

·Have lost your home or sustained significant damage.

·Apply for financing within one year of the disaster declaration.

This program is open to both homeowners and renters, giving everyone a fair chance to restore stability through homeownership.

💰 Key Benefits of FHA 203(h) Loans

·No down payment required — 100% financing available.

·Flexible credit requirements for easier qualification.

·Can be combined with FHA 203(k) for home renovation.

·Competitive interest rates and low closing costs.

·Rebuild or buy a new home in a safe area of your choice.

The FHA 203(h) loan empowers families to recover quickly without waiting for insurance payouts or personal savings to rebuild.

🧭 How Medallion Funds Can Help

At Medallion Funds, we specialize in helping homeowners navigate FHA programs, including 203(h) disaster recovery loans. Our team ensures a smooth application process, verifies eligibility, and coordinates with FEMA-declared zones to confirm qualification.

Whether your goal is to rebuild your existing property or purchase a new one, we’re here to help you start fresh with confidence and compassion.


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


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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!

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