“Date the Rate, Marry the Home” - Why That Advice Could Hurt You

By Ed Stojancevich, Co-Owner, SouthShore Region Mortgage Group

You’ve probably heard it before - “Date the rate, marry the home.”

It's a catchy phrase often thrown around in the real estate and mortgage world. The idea is this: find the home you love now and worry about the interest rate later. Just refinance when the rates come down.

Sounds clever. Maybe even comforting. But is it smart?

Here's the reality - this advice, when misunderstood or misused, can put homebuyers in serious financial trouble.

The Hidden Risk Behind "Just Refinance Later"

At SouthShore Region Mortgage Group, we've helped thousands of buyers navigate the mortgage process over the years. We've seen what happens when buyers stretch their budget based on the hope of refinancing later - and it’s often not pretty.

Too many people are being told, "You can always refinance later when rates go down." But here’s the truth: refinancing is never guaranteed.

There are many variables that can affect your ability to refinance, including:

• Job loss or change
• Medical issues or health emergencies
• A decrease in income
• Increased debt-to-income ratio
• A drop in your credit score
• Changes in lending guidelines or the housing market

Any one of these factors can make refinancing difficult - or even impossible - even if rates do drop.

So, when someone gives you advice that encourages you to buy beyond your means today, based solely on what might happen tomorrow, they're not guiding you - they're selling you.

Put Your Peace of Mind First

Your home should be your sanctuary - not a source of financial stress. At SouthShore Region Mortgage Group, we don't believe in one-size-fits-all advice or catchy phrases that sound good in a sales pitch but fall apart in real life.

We believe in helping people make smart, informed decisions they can live with - and thrive with - for the long haul.

That means asking the right questions and creating a mortgage strategy that fits your current financial situation - not one based on risky assumptions about the future.

We won't tell you what you want to hear just to close a deal - we'll tell you what you need to hear so you can make the right decision for you and your family.

Here's What You Can Do Instead

1. Work with a lender you can trust. Choose someone who educates you and walks through your unique scenario - not someone who just pushes you toward a closing.
2. Get pre-approved for a payment, not just a price. Home prices mean nothing if the monthly payment stretches your budget too thin. Know what payment you're truly comfortable with first.
3. Plan for the unexpected. Life happens. Build in a buffer to your monthly budget for emergencies, income fluctuations, and those surprise expenses we all face from time to time.

These steps might not be as flashy as "date the rate, marry the home" - but they're smarter, safer, and built on real financial stability.

Trust Matters More Than Ever

Not all advice is good advice. And not all lenders are focused on your long-term success.

At SouthShore Region Mortgage Group, we've built our reputation on trust, integrity, and a commitment to doing what's right - not what's easy or profitable. Our team is here to help you understand your options, avoid the traps, and move forward with confidence.

Don't just trust anyone with your mortgage - especially those who offer advice designed to close the sale instead of protecting your future.

Have questions? Thinking about buying a home? We're here to help - no pressure, just honest guidance.

Reach out today and let's make a smart move together.