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How to Choose Your "Super" Mortgage Lender

By Gene Mundt, IL/WI Mortgage Originator - FHA/VA/Conv/Jumbo/Portfolio/Refi

Mortgage and Lending with NMLS #216987, IL Lic. 031.0006220, WI Licensed. APMC NMLS #175656 IL Lic 031.0006220/WI

February 14, 2013 05:51 AM

How to Choose Your "Super" Mortgage Lender

     One of the questions I see crop-up often on real estate websites such as Zillow and Trulia comes from First-time Home Buyers. It concerns HOW they should go about looking for and choosing the Mortgage Lender for their first home's financing.

   Often, in response to these questions, I see others offering up the name of a lender they know for contact. And I suppose if that name crops-up multiple times, that does provide at least a starting point from which a home buyer can work.


     But I think those looking for mortgage lending services, especially First-time Home Buyers, need a more specific answer to that very important question.  First-time Home Buyers need real guidelines they can follow to help them find the strong "Super" Mortgage Lender that will ultimately prove best suited to their personal financial needs and most beneficial to securing a successful outcome when they buy their home.

   So, HOW do you go about finding your own "Super" Mortgage Lender?

   I won't try to kid you. What I'm about to suggest will take some time and effort on your part. But the end results make it worth it, because the Mortgage Lender you end up choosing will possess the attributes:

   * YOU find important
     * YOU are comfortable with

Link to FREE Consultation with Gene Mundt, Mortgage Lender

   * A great reputation. They will come highly recommended by multiple people, including other real estate-related professionals
   * They will have responded to your initial inquiries and questions in a timely and thorough fashion
   * They will have provided information regarding what determines your Interest Rate and yourmortgage program costs
   * That Mortgage Lender will be experienced, knowledgeable, and have a proven track record for successful Closings. They'll offer references, testimonials.
   * They will have provided you real guidance, based upon facts and your personal finances ... not just generalities
* You will have found by speaking with their prior clients/professionals worked with ... that they were willing to "go to bat" for those clients, if need be. That they don't give up on their clients or their transaction. That they serve as a true advocate on the behalf of their clients and referral partners.

   If you truly hope to find the best Mortgage Lender for your needs, there is no getting around it. You need to do your homework. You need to ask questions ... and then ask some more. Not be satisfied with vague or incomplete answers. You need to dig long enough and hard enough to discover the Mortgage Lender that matches those characteristics listed above. You want to work with the best.

   If you're a First-time Home Buyer looking to buy a home within the current market, doing that homework is well worth the effort. You'll not only reap a historically low interest rate, but a great home at an unbelievable price. And you'll be establishing a real relationship with a quality, experienced Mortgage Lender. One that will continue to work on your behalf beyond the Closing table. A "Super" Mortgage Lender with which you can always rely in the future.

     Act soon and get started ...

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* Are YOU hoping to buy (or refinance) a home in Will County or elsewhere in the Chicagoland area? Let's talk! I'll put my 35+ years of mortgage experience and expertise to work answering your questions and fulfilling your financing needs.
I can be conveniently found at the following:

Direct: 815.524.2280 Cell/Text: 708.921.6331

gmundt@goapmc.com

www.genemundt.com

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Sheila Anderson

Referral Group Incorporated - East Brunswick, NJ

The Real Estate Whisperer Who Listens 732-715-1133

Good morning Gene. This is, as other concur, a very thorough and comprehensive guideline for choosing the best possible lender. Well done.

Feb 14, 2013 09:32 PM

Paul McFadden

Responsive Pest Control - Seattle, WA

Pest Control, Seattle, WA.

Gene: If that person happened to be in the Chicago area I would tell them to choose you! Thanks for another great post. They're always thoughtul!

Feb 15, 2013 06:32 AM

Paul McFadden

Responsive Pest Control - Seattle, WA

Pest Control, Seattle, WA.

I forgot to add that sometimes the choice is so random. It's like the first person who answers their phone, etc., etc. gets the business. I wish people would take more time on choosing a mortgage professional. I know people are busy but the stakes are too high and the horror stories abound. Take care.

Feb 15, 2013 06:36 AM

Maureen Bray Portland OR Home Stager ~ Room Solutions Staging

Room Solutions Staging, Portland OR - Portland, OR

"Staging Consultations that Sell Portland Homes"

Hi Gene ~ Anyone who's looking for a Super Mortgage Lender just needs to contact Gene Mundt at (815) 524-2280 or your website: http://www.genemundt.com

Hope you have a great weekend!!

Feb 15, 2013 09:44 AM

Gene Mundt, IL/WI Mortgage Originator - FHA/VA/Conv/Jumbo/Portfolio/Refi

NMLS #216987, IL Lic. 031.0006220, WI Licensed. APMC NMLS #175656 - New Lenox, IL

708.921.6331 - 40+ yrs experience

Debbie: The relationship between client and lender .. and its quality ... is definitely underestimated. You work in tandem and closely for months leading up to the Closing .. and hopefully well beyond. Comfort between the two parties definitely enhances the experience and is reflected in the success found ...

Sally: Agree! Too often its some obscure reason that leads to the choice ...

Appreciate your support and the thumbs up, Frank. Thanks so much ...

Thank you, Sheila. You're always so kind and generous with your support ...

You are so right, Paul ... time and effort needs to be offered and made. There are vast differences in service and quality of service available. And know that I feel the same regarding your services ... thank you ...

Thank you so much, Maureen! Your kind words are greatly appreciated ...

Gene

Feb 15, 2013 11:03 AM

Mike Cooper, Broker VA,WV

Cornerstone Business Group Inc - Winchester, VA

Your Neighborhood Real Estate Sales Pro

Great points, Gene. I always feel tenuous for my first timers. They are so nervous, and they need real professionals guiding the way through the whole process.

Feb 15, 2013 11:29 AM

Praful Thakkar

LAER Realty Partners - Burlington, MA

Metro Boston Homes For Sale

Gene, it makes a big difference when a FIRST TIME HOME BUYER works with right lender - they need lot of TLC and if they don't get it, the result is not desirable to us - realtors(r).

Feb 15, 2013 04:56 PM

Nina Hollander, Broker

Coldwell Banker Realty - Charlotte, NC

Your Greater Charlotte Realtor

Great suggestions. I tell my clients they need to "shop" for a lender the way they shop for a Realtor to ensure the right service and handling. So often all they look for is simply the lowest rate, unfotunately!

Feb 15, 2013 07:24 PM

Shay Campbell

Universal American Mortgage Company - Raleigh, NC

Raleigh, NC

Gene you left out; "Does your loan officer have a license?" As you know not all loan officers have a license.

Feb 15, 2013 07:41 PM

Amanda Christiansen

Christiansen Group Realty (260)704-0843 - Fort Wayne, IN

Christiansen Group Realty

These are all great points Gene. Finding a good mortgage lender is very important.

Feb 15, 2013 08:47 PM

Michael Setunsky

Woodbridge, VA

Your Commercial Real Estate Link to Northern VA

Gene, all good tips for finding a good reputable mortgage lender. Unfortunately, many buyers shop for a lender based only on interest rates.

Feb 15, 2013 10:12 PM

Tracy Oliva

West USA Realty - Arizona - Fountain Hills, AZ

The Oliva Team Arizona Agents

Good morning gene great tips, keep up the good work and good luck with your business in 2013, E

Feb 15, 2013 10:23 PM

Ray Strahl, DTM

Mortgage Power, Inc. - Glendale, AZ

NMLS #195562

Great article, Gene. I've been a banker for over 40 yrs and started my banking career in Chicago with the 1st of Chicago Bank in the early '70's. I know that from the start I wanted to establish myself as a professional that consumers would want to work with. I now reside in Glendale, Arizona and am a Sr. Mortgage Banker with the largest direct mortgage lender in Arizona and it is extremely important to have not only a good image, but to be knowledgeable, helpful, compassionate and to be involved in teaching classes and active in your local Board of Realtors. It is about branding oneself and being consistant with one's performance.

Again, good job Gene!

Feb 16, 2013 01:06 AM

Christine Smith

Buyers Brokers Only LLC - www.BuyersBrokersOnly.com - Canton, MA

Exclusive Buyer Agent & Attorney, Canton, MA

Gene...first time buyers especially need a super mortgage lender like yourself! Referrals from their buyer agent are a great way to find out who is super!

Feb 16, 2013 02:05 AM

Glenn Freezman

Family Abstract, Inc. - Horsham, PA

Hi Gene ~ Anyone who's looking for a Super Mortgage Lender just needs to contact Gene Mundt at (815) 524-2280 or your website: http://www.genemundt.com

Hope you have a great weekend!!

:) I i couldn't agree more.

Feb 16, 2013 02:09 AM

Gene Mundt, IL/WI Mortgage Originator - FHA/VA/Conv/Jumbo/Portfolio/Refi

NMLS #216987, IL Lic. 031.0006220, WI Licensed. APMC NMLS #175656 - New Lenox, IL

708.921.6331 - 40+ yrs experience

Definitely a good assessment of those buyers out for the first time, Mike. And exactly the best time for buyers to work with experienced professionals at their side. Great results and less stress ...

Praful: So true! No one goes away happy when first-timers are poorly or improperly serviced. Not the clients .. and certainly NOT the other real estate professionals working within the transaction ...

Nina: Truly it's about the expertise and realiability of the professional chosen. There are vast differences to be found there that do not surround the issue of interest rate. The "lowest rate" does nothing for you, if you don't get the transaction CLOSED!

Shay: I understand where you're coming from, believe me. And I think the fact that someone passed a test in order to be able to provide their service is indicative of much. That said, there are good lenders that exist within a non-licensed environment. It remains about the individual themselves ... licensing is a part that should be considered tho, I agree ...

Jared: Although I advocate future buyers starting with Lenders at minimum 6 to 12 months ahead of actually starting to view homes, most buyers that do not come through my own database referrals, come via an agent. And it's my belief that a strong, experienced agent will definitely assist their buyers in the act of finding a quality lender to work with during their upcoming transaction. A strong and experienced lender is worth their weight in gold to a lender in many many ways, as you prove ...

You're right about that, Michael. Sad that they don't see or value the bigger picture ...

Thanks, Ed!

Ray: Thank you so much for your input and thumbs up! And Chicagoland obviously lost a great lender to lucky Arizona!

So true, Christine! Who would know better than the agents that see the lenders days in and day out? As I said to Jared above, an agent's referral, input, and support is like gold to a lender. No doubt about it ...

Thanks so much, Glenn! Your help in getting the word out (both in message and for myself) is unbelievably well appreciated. Hope you have a fantastic weekend ...

Gene

Feb 16, 2013 05:45 AM

John G. Johnston

John G. Johnston & Associates, LLC - Westcliffe, CO

An Exclusive Buyer's Agent ~ Westcliffe, CO

Gene Great blog for 1st time buyers and brokers to learn to start using you early in the game. I liked Ray's comment (#21) and know the both of you to be knowledgeable, helpful, compassionate and have an outstanding image. And, as you said, act soon and get started. YOU ROCK!

Feb 16, 2013 07:08 AM

Eric Michael

Remerica Integrity, Realtors®, Northville, MI - Livonia, MI

Metro Detroit Real Estate Professional 734.564.1519

Gene, you made a bunch of great points about finding an awesome lender. I have a few lenders that I recommend (you included!), but sometimes a buyer will show up with someone they've decided to work with. I have no problem with that, but I don't know how they work, so there's often issues that pop up with them. Keep up the great work, pal!

Feb 16, 2013 09:07 AM

Nick T Pappas

Assoc. Broker ABR, CRS, SFR, e-Pro, @Homes Realty Group, Broker/Providence Property Mgmnt, LLC Huntsville AL - Huntsville, AL

Madison & Huntsville Alabama Real Estate Resource

Gene, when I refer clients to a lender they get a "Super" mortgage lender just like you. If I ever have clients moving to the Chicago area you can expect a call from me and them!

Feb 16, 2013 01:11 PM

Gene Mundt, IL/WI Mortgage Originator - FHA/VA/Conv/Jumbo/Portfolio/Refi

NMLS #216987, IL Lic. 031.0006220, WI Licensed. APMC NMLS #175656 - New Lenox, IL

708.921.6331 - 40+ yrs experience

Thanks, John. I'm glad I've had the pleasure of finding and reading your posts more recently too. You're great at getting conversation going! I'm glad you liked the post and its message. Hopefully it proves beneficial to your clients and readers ...

Eric: Thank you ... your referrals are greatly appreciated! And yes, we have to work with unknowns often. Sometimes it becomes a very pleasant surprise ... other times not. Communication helps. But strong agent referral partners are priceless for both the recipients of the referrals ... but definitely the client ...

Nick: Thanks so much! Let's just get YOU up here for that round of golf! Then we'll talk some business ... maybe on that 19th hole??

Gene

Feb 17, 2013 01:12 AM