Discover the "Secret" to a Successful Fluid Mortgage Process

By
Mortgage and Lending with NMLS #216987, IL Lic. 031.0006220, WI Licensed. APMC NMLS #175656 IL Lic 031.0006220/WI
http://actvra.in/57YM

 

Discover the "Secret" to a

Successful Fluid Mortgage Process

 

Having been in the mortgage business for as many years as I have, I've had the pleasure and opportunity to meet and work with many of Chicagoland's best real estate professionals ...  

 

With some, the relationship goes back decades.  I say "relationship", as over the years we've come to know each other well.  I've gotten to know about spouses, kids, grandkids, pets, life situations, and more through our shared stories.  

 

 

Subsequently, strong bonds and trust have been forged between us.  Because of that, I've had the pleasure of working with many of my referral partner's family members.  Those family members are entrusted to me because they trust and believe in me and my abilities.  

 

Such was the case when I received a call from a young home buyer this summer.  His mom, an agent I've worked with many times, has served the families of Joliet and Will County for well over 20 years.  

She recommended that he call me when he decided to buy his first home.  Having a mom with decades of experience in the real estate business has its advantages.  Receipt of great referrals is just one.


This young man's home buying and financing process flew by quickly and smoothly.  Proof of that fact lies in the timeframe of his purchase and mortgage processing:

  • Early July - Home search conducted
  • Selected home  
  • Home Contract Completed - July 18th  
  • Applied for loan (VA Loan) - July 20th  
  • Completed Appraisal back from VA - July 27th
  • Loan submitted to Underwriting - July 28th
  • Underwriting Approval received - July 31st  
  • Underwriting Conditions of Termite Inspection and Re-Verifications addressed (required within 10 days of Closing)
  • Clear to Close Received - August 8th


By August 8th, we were waiting for confirmation of a Closing Date to be received.  Pretty Impressive! 

Even more important, this young veteran was able to Close on his first home  investing only an:

  • Earnest Money Deposit of $2,000
  • Appraisal Fee of $425
  • Real Estate Tax Proration from the Seller at Closing (Taxes paid in arrears in IL)

An additional plus:  My borrower received a Lender Credit* from American Portfolio Mortgage Corp. ... and a check in the amount of $300+ back to him at the conclusion of his Closing.  

(*  In the case of this particular borrower, APMC was able to give a credit OFF Closing Costs based upon the market for interest rates at that rate, on that given day. In other words, interest rates were “in between” on the day the loan was locked so the borrower opted for the interest rate on which he would receive a “credit” as opposed to paying additional costs for the next lower 1/8% interest rate).

From beginning to end, this transaction went extremely well.  The efficiency of the VA Appraiser, the quick turn-around of Mortgage Underwriting, the willingness of my young Borrower to listen, comply and respond quickly ... each element fell into place perfectly.  Each contributed greatly to the fluidness and success of the transaction.  


Upon his Closing, my borrower was the owner of a home he loved ... in the area in which he'd hoped to buy ... having received the mortgage financing that best fulfilled his needs.  It doesn't get better than that.

Positive, happy-ending stories, such as my client's, need to be told.  It proves that mortgage financing can be a fluid positive experience.  A story and message too often left untold.

It also proves:  The level of experience and knowledge of the professionals you choose to represent you matters greatly.  


I understand that not everyone can reap the benefit of having a family member in the real estate or mortgage business.  But all can reap the benefit from conducting a thorough search for a highly-qualified agent and Mortgage Originator.

 

The "Secret" to reaping a successful and fluid mortgage process is really no secret at all.   If you take the time to make the effort to search for the best professionals available to you, my young borrower's positive experience can be yours.

Take the time.  Make the effort.  Reap good results ... 

 

 
 

* Hoping to Buy or Refinance a Home in New Lenox or elsewhere in the Chicagoland area?  Contact me!  I'll put my 40+ years of Mortgage experience and expertise hard to work on your behalf.  

I'm easily found at: 

 
 
Gene Mundt
Mortgage Originator - nmls #216987 - IL Lic. 031.0006220 - WI Licensed 
 
American Portfolio Mortgage Corp.
nmls #175656
 
Direct: 815.524.2280
Cell/Text: 708.921.6331
eFax: 815.524.2281
 
 
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Gene Mundt

 Mortgage Originator  -  NMLS #216987    

                                 IL Lic. #031.0006220  -  WI License #216987                                                                                                    

NMLS #175656

 

Gene Mundt, Mortgage Originator,  40+ years of #mortgage experience, will offer you exemplary mortgage service and advice when seeking:  #Conventional, #FHA, #VA, #Jumbo, #USDA, and Portfolio Loans in #Chicago and the greater Chicagoland region, including:  The #Lincoln-Way Area, #Will County, (#New Lenox, #Frankfort, #Mokena, #Manhattan, #Joliet, #Shorewood, #Crest Hill, #Plainfield, #Bolingbrook, #Romeoville, #Naperville, #Wilmington, #Peotone, etc.), #DuPage County, the City of Chicago, #Cook County, and elsewhere within IL and Wisconsin. 

 

Your Referrals & Testimonials are Always Greatly Appreciated! 

 

Email Me .. to be added to my Mortgage & Real Estate Newsletter

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Topic:
Home Buying
Location:
Illinois Will County New Lenox
Groups:
Mortgages
Chicago Area Real Estate BUZZ!
VA Loan Group
Buyer Information - What Buyers Need to Know in Today's Market
Bananatude
Tags:
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mortgage process
mortgage closings
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preparing to buy a home and get a mortgage
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Ambassador
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Dick Greenberg
New Paradigm Partners LLC - Fort Collins, CO
Northern Colorado Residential Real Estate

Hi Gene - You're right. A lot of our best stories result from the collaboration between us and our mortgage lender, whom we have been using for almost a decade. Our experiences together provide a smooth and transparent process that our clients really appreciate and the results they're looking for.

Nov 01, 2017 11:21 AM #1
Rainmaker
1,582,057
Patricia Feager
DFW FINE PROPERTIES - Southlake, TX
Selling Homes Changing Lives

Congratulations to you on all your success in getting the right buyers into homes. I'm sure they appreciate it too!

Nov 01, 2017 01:06 PM #2
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John Meussner
Mason-McDuffie Mortgage, Conventional Loans, Jumbo Loans, FHA, 203(k), USDA, VA, - Walnut Creek, CA
#MortgageMadeEasy Walnut Creek, CA 484-680-4852

Sounds like a super streamlined process, with a couple of take aways-  you know what you're doing in making the process painless, which is rare.  And good for the appraiser -- I see a lot of appraisers in the VA world taking advantage and charging upwards of $600 for a report.  And finally, always fun to explain the "in between" rates to folks, that's something many people have no understanding of.

Nov 01, 2017 02:15 PM #3
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George Souto
George Souto NMLS #65149 FHA, CHFA, VA Mortgages - Middletown, CT
Your Connecticut Mortgage Expert

Gene that is an impressive time-line on this VA Loan, especially the 7 day turnaround time on the VA appraisal.  Around here VA Appraisers will take 2-3 weeks to get the appraisal done, since VA orders the appraisal and give all sorts of leeway. 

Great Job!!!

Nov 02, 2017 02:14 PM #4
Rainmaker
3,928,219
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

You did a great job helping this veteran get the home of his dreams, Gene.

Nov 06, 2017 02:09 PM #5
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Debbie Reynolds
Platinum Properties - Clarksville, TN
Your Dedicated Clarksville TN Real Estate Agent

I have discovered a lender in my area that makes it easy for my clients and does their job in half the time. This is in all of our best interest.

Nov 07, 2017 06:16 AM #6
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Rainmaker
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Gene Mundt, IL/WI Mortgage Originator - FHA/VA/Conv/Jumbo/Portfolio/Refi

708.921.6331 - 40+ yrs experience
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