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.
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DO: Shop around for the best mortgage rates
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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.
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DO: Have a budget in mind
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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
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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
.
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.
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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!
Jonathan goes the extra mile and then some to walk you through the journey of purchasing a home. Pro-Active and extremely well versed in the home lending field. Friendly, polite, professional and most importantly, he keeps you in the loop and updated.
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Clint and Emily “Proud Home Owners
John was first class from the very beginning. We all know how unpleasant refi can be, but he made it easy and enjoyable. He is very knowledgeable and professional and I highly recommend them!! The Two Mortgage guys are ROCKSTARS!!!!
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Steve Hurtig
Jonathan provided exceptional transparency and professionalism to my family. The process to finance the house for our family was excellent.
We highly recommend them when buying your dream house or refinancing.
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Tino Morfin
Jonathan goes the extra mile and then some to walk you through the journey of purchasing a home. Pro-Active and extremely well versed in the home lending field. Friendly, polite, professional and most importantly, he keeps you in the loop and updated.
Clint and Emily “Proud Home Owners
John was first class from the very beginning. We all know how unpleasant refi can be, but he made it easy and enjoyable. He is very knowledgeable and professional and I highly recommend them!! The Two Mortgage guys are ROCKSTARS!!!!
Steve Hurtig
Jonathan provided exceptional transparency and professionalism to my family. The process to finance the house for our family was excellent.
We highly recommend them when buying your dream house or refinancing.
Tino Morfin
Thank you for working so hard to get us our house! We love it and can’t wait to move in and settle down! You made the process so easy, quick and answered all of our questions! I really appreciate everything that you did for us! Thank you for the great experience!
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Chelby Watson
This was my second loan working with Jonathan and if I ever need another mortgage I'll definitely be back for a third time. Jonathan and all the staff at Two Mortgage Guys were attentive to my needs and worked diligently to get me the best possible rate on my re-fi. .
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Mark Taylor
Jonathan is one of the most professional individuals you will ever work with. He is extremely knowledgeable. He has helped me several times and is always quick to give great recommendations to help solve any issue. Super trustworthy and helpful. I highly recommend Jonathan!
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Sherri McFadden
Thank you for working so hard to get us our house! We love it and can’t wait to move in and settle down! You made the process so easy, quick and answered all of our questions! I really appreciate everything that you did for us! Thank you for the great experience!
Chelby Watson
This was my second loan working with Jonathan and if I ever need another mortgage I'll definitely be back for a third time. Jonathan and all the staff at Two Mortgage Guys were attentive to my needs and worked diligently to get me the best possible rate on my re-fi. .
Mark Taylor
Jonathan is one of the most professional individuals you will ever work with. He is extremely knowledgeable. He has helped me several times and is always quick to give great recommendations to help solve any issue. Super trustworthy and helpful. I highly recommend Jonathan!
Sherri McFadden
© Copyright 2023 Jonathan Ferrell Mortgage Broker. All rights reserved
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Jonathan Ferrell, NMLS ID 871443, is a licensed mortgage broker with Park Cities Lending, Inc. - NMLS 1465666 | 1055 Equestrian Drive Rockwall, TX 75032 |
More about Park Cities Lending, Inc.
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Notice To Texas Loan Applicants: Consumers wishing to file a complaint against a mortgage banker, or a licensed mortgage banker residential mortgage loan originator, should complete and send a complaint form to the Texas Department of Savings and Mortgage Lending, 2601 North Lamar, Suite 201, Austin, TX 78705. Complaint forms and instructions may be obtained from the department’s website at www.sml.texas.gov
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A toll-free consumer hotline is available at 1-877-276-5550. The department maintains a recovery fund to make payments of certain actual out of pocket damages sustained by borrowers caused by acts of licensed mortgage banker residential mortgage loan originators. A written application for reimbursement from the recovery fund must be filed with and investigated by the department prior to the payment of a claim. For more information about the recovery fund, please consult the department’s website at www.sml.texas.gov