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!
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🏡🇺🇸 VA Loans 2025: Exclusive Benefits for Veterans & Military Families 🏠
🏡🇺🇸 VA Loans 2025: Exclusive Benefits for Veterans & Military Families 🏠
🎖️ Unlock Your Homeownership Potential with the VA Loan Program 🇺🇸
Veteran Loan Program (VA Loans) – Exclusive Benefits for Veterans, Active-Duty Service Members, and Eligible Spouses
For those who’ve served our country, the VA Loan Program is one of the most powerful financial benefits available. Backed by the U.S. Department of Veterans Affairs, VA loans make homeownership more accessible for veterans, active-duty service members, and eligible surviving spouses — offering low interest rates, no down payment requirements, and no private mortgage insurance (PMI).
💪 Why VA Loans Stand Out
VA loans are not just another mortgage option — they’re a reward for service. Unlike conventional or FHA loans, VA loans remove major barriers to homeownership by allowing 100% financing and capping closing costs, helping veterans keep more of their hard-earned money.
🏠 Key Benefits of VA Loans
·No Down Payment: Finance up to 100% of your home’s value.
·No PMI: Save hundreds each month compared to conventional loans.
·Competitive Interest Rates: VA loans typically offer lower rates than standard mortgages.
·Flexible Credit Requirements: Designed to help veterans with diverse financial histories.
·Assumable Loans: Another buyer can take over your VA loan with the same low rate.
·Streamlined Refinancing: The VA IRRRL program allows easy rate reductions for existing VA borrowers.
💼 Who Qualifies for a VA Loan?
You may be eligible if you’re:
·An active-duty service member, veteran, or National Guard/Reserve member who meets service requirements.
·The surviving spouse of a service member who died in the line of duty or from a service-connected disability.
🧾 How to Apply
1.Obtain a Certificate of Eligibility (COE) from the VA.
2.Work with an approved lender—like Medallion Funds—to start your pre-approval.
3.Shop for your home with confidence, knowing your benefits give you strong buying power.
💬 Why Work with Medallion Funds
At Medallion Funds, we specialize in helping veterans and military families secure the best financing terms available. Our experienced mortgage professionals walk you through every step — from eligibility verification to closing — ensuring a smooth, stress-free process that honors your service and your goals.
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