Key Takeaways
- Shop multiple lenders before you commit.
- Do not change jobs or open new credit before closing.
- Budget for closing costs and reserves, not just the down payment.
Mendy's Original Take
From the Mendy Realty archive, first published by Mendy Lipsker.
8 Big Mortgage Mistakes and How to Avoid Them
Applying for a mortgage can be a challenging experience. For many people, buying a home or a commercial property is going to be the largest purchase of their life and the mortgage, their largest debt, because especially for those buying a home, the debt can be 2-3 times their annual income.
2026 Brooklyn Market Snapshot
Brooklyn prices kept rising in 2026 while fewer homes came to market, giving well-prepared buyers and sellers a clear picture of where value sits.
Median sale price by neighborhood, Q3 2026
Neighborhood medians are for Q3 2026.
How To Avoid Mortgage Mistakes
Get pre-approved early
Know your budget before you search.
Protect your credit
Avoid new debt until after closing.
Read the loan estimate
Compare rates, fees, and terms side by side.
Common Questions
What is the biggest mortgage mistake buyers make?
Making big financial changes, such as new loans or job changes, before closing.
How do I choose a mortgage lender?
Compare offers from several lenders and review rates, fees, and service.
Related Reading
Talk To A Brooklyn Broker
Buying, selling, or investing in New York real estate? Start with a direct conversation.
718.751.0738Market figures compiled from public records and published market data. Information is believed reliable but not guaranteed and should be independently verified.
