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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š§ Mortgage Wisdom from 23+ Years in the Game š¼
š” What 23+ Years in Mortgages Taught Me (That Could Save You Thousands) š
š§ The Biggest Lesson Iāve Learned in 23+ Years as a Mortgage Pro
After two decades in the mortgage industryāthrough booming markets, recessions, new regulations, and tech overhaulsāthe biggest lesson Iāve learned is this:
Your mortgage isnāt just a loanāitās a strategy.
Why That Matters
Most people walk into the home loan process thinking itās all about the rate. While thatās important, itās just one piece of a much bigger puzzle. Over the years, Iāve seen families thrive because we structured the right mortgage for their life, not just their house.
Hereās What I Mean:
Ā· š Lower rates aren't always better if youāre paying unnecessary points or extending your breakeven beyond your expected move date.
Ā· š§¾ Self-employed borrowers can absolutely qualifyābut you need a lender who understands creative documentation.
Ā· š§ Mortgage planning is financial planningāwhat we structure today affects your cash flow, taxes, and future net worth.
The Real Lesson: Strategy Wins
Whether youāre a first-time buyer, investor, doctor, or disaster-affected homeownerāyour mortgage should be custom-fit. The best loan pros donāt just close loans. We ask the right questions, see around corners, and build strategies that protect your wealth.
In todayās marketāwith higher rates, tighter guidelines, and rising home pricesāworking with an experienced mortgage broker can mean the difference between regret and relief.
If youāre buying, refinancing, or planning ahead, donāt just shop for the lowest rateāshop for the smartest advice.
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