• Mary McLean

The Only Rational Part of the Home-Buying Process

The only true rational and quantifiable piece of the home-buying process is financial.

History of the Interest Rate

Fifty years ago, the only real variable in mainstream mortgages was the interest rate. At that time, all loans were for 30 years, and second mortgages, which are commonplace today, were considered questionable by both sides. Money was truly a commodity, sold by price alone — like cotton or pig iron (crude iron).

The Scaling of Rates

As time has made us more sophisticated, the real cost of money has become tied to the theoretical risk of the loan. Specifically, the scaling of rates allowed people with lower credit and smaller downpayments to achieve the American dream of homeownership, but at the cost of paying more. Today, there are multiple loan programs available for the poor to middle class that subsidize downpayments, interest rates, etc.

Tax Deductibility of Mortgages

Mortgage payments are mostly tax deductible; however, the part that goes toward principal deduction is ‘forced savings’, meaning you owe progressively less against your home every month and are thus building equity. For everyone who buys a home, the purchase is partially subsidized by the deduction of interest and real estate taxes at closing.

Look to the Professionals

It is recommended that you try not to learn the real estate mortgage market, but rather find someone that you instinctively trust and run with them. Talk to your agent, banker, tax consultant, friends and at least two to three mortgage brokers.

We prohibit our agents from getting fees from lenders, so that they are fully and constantly aware that their service and loyalty are to and for their real estate clients. Be cautious when dealing with agents who also place loans.

A Final Word

Most importantly, don’t let this sometimes tedious and dry part of the home-buying process dampen the fun and excitement for you of buying a home.



A resident of Dallas for more than  and a real estate professional since 2004, Mary McLean is the broker - owner of Dallas McLean Realty (DMR). Representing buyers and sellers, Mary has a passion for providing exceptional service to her clients. Her extensive knowledge of the marketplace and highly effective communication skills help her go the extra mile before, during and after closing to maximize representation on behalf of her clients. Mary holds an MBA from The University of Texas at Austin and a BA from Barnard College, Columbia University. Mary is also a Certified Luxury Home Market Specialist with Guild Recognition™, Certified Negotiation Expert®

Advanced Historic Home Specialist, Senior Real Estate Specialist® and has her GREEN Certification from the National Association of Realtors®.


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Dallas McLean Realty is an independent boutique real estate brokerage in Dallas, Texas, offering personalized service to both buyers and sellers. While buyers and sellers can get information faster than ever by simply typing 'house for sale' or 'condo for sale' in a browser or an MLS search, we take the time to understand our clients' needs and focus sharply on the right property solution.  

In a very dynamic real estate market like Dallas, once you have waded through the daily 'for sale by owner' and new listings on Zillow or Trulia, it is nice to just have someone in your corner who can answer your questions. Buying or selling real estate can pose plenty of unique challenges, and the terminology can be confusing. With years of experience in the Dallas market, we strive to make your real estate transactions as pleasant as possible. We pride ourselves in responding to every request and returning every call in a timely manner.

Dallas McLean Realty is a Trumeau Company founded 1998.