financing: Thinking About Buying Your First Home? How to Prepare - 05/02/19 09:37 AM
 
 
Thinking About Buying Your First Home?
How to Prepare
 
Buying a home ... 
 
While the end result ... a home of your own ... is an exciting thing to ponder, it also can be a bit nerve-wracking, can't it?  
 
All sorts of questions race through your mind once you decide to buy ... 
What do I need to do? What do I need to know? Who are the people that can help me? What kind of credit should I have?  Or money saved? How do I get started?  When will I know I'm prepared? More  
Don't panic!  
 
It's important to remember, there is absolutely no … (17 comments)

financing: Stay Calm and Take These Steps if You've Received a Mortgage Denial - 01/15/19 10:06 AM
 
 
Stay Calm and Take These Steps
if You've Received a Mortgage Denial
 
 
Emotions play a big part in the home buying and financing processes.  In fact, an emotion (or two) may have provided most people the initial motivation to begin the process to buy in the first place ...
 
 
 
Emotions, such as curiosity, optimism, joy, excitement, pride, and even surprise drive people's desire to buy a home.  
 
Add to those the emotions someone may feel during mortgage pre-approval and application ... such as nervousness, fear, stress, and anticipation ... and it's easy to see why the processes of home buying and financing are likened to an emotional … (24 comments)

financing: Positives Exist Within Today's Mortgage Process - 05/12/15 07:21 AM
Positives Exist Within Today's Mortgage Process 
     Scotsman Guide - May 4, 2015 
     “The data shows that 40 percent of the people getting loans now do not have pristine or perfect credit.”
               Edward Pinto, Co-Director - American Enterprise Institute’s International Center on Housing Risk  
     That's a pretty high percentage ...
     As a Mortgage Lender in the Chicagoland area, I'd agree with that statement too.  
     Few of the homebuyers I speak to have what could be categorized as "perfect" or "pristine" credit.  Many have financial scenarios that need to be addressed (or explained) at some point during … (9 comments)

financing: Just Like Your Underwear: Credit Needs to be Freshened-Up, Scrubbed, Updated, Fluffed & Changed - 04/18/14 02:35 AM
Just Like Your Underwear:
Credit Needs to be Freshened-Up, Scrubbed,
Updated, Fluffed & Changed           Everything needs to be "freshened up" once in a while.  It needs to be given a trim.  Updated.  Fluffed.  Scrubbed-up.  Changed or re-arranged.
     Credit is no different ...  
     But stop and think.  When was the last time you took a good hard look at your credit situation, your credit cards, or Credit Report?  Over a year?  Two?  More?
     Truth is, what worked for you credit-wise in the past, may not be serving your overall financial good now ...  
 
 Interest … (15 comments)

financing: Good or Bad Mortgage Process? How to Secure More Positive Results - 03/11/14 07:25 AM
 
Good or Bad Mortgage Process? How to Secure More Positive Results
    
      I read an article containing the recent TD Bank Mortgage Service Index.  It projected a "good news - bad news" message ... 
 
       Some of the good news reported:
82% of those taking part in the index study felt that 2014 is a "very good" or "good" time to buy a home 21% (up from 18% last year) are "extremely/very likely" to "likely" to purchase a home this year For those that had purchased recently, 62% thought their experience was "excellent" or "very good" For those … (16 comments)

financing: When "NO" Doesn't Mean "NO" ... or at Least Not Forever - 12/19/13 12:19 AM
  When "NO" Doesn't Mean "NO" ... or at Least Not Forever          Do I have you thoroughly confused with my title?  If so, let me explain ...           So many of my potential Mortgage Applicants mention thestatistics reported regarding their chances of successfully obtaining financing for a home purchase.  Add what's heard regarding today's actual Mortgage process (which is portrayed as pretty bad too) ... and I can find myself in front of some pretty scared people.  Especially true, if they're First-Time Home Buyers.
       It's hard to deny that the current process for … (26 comments)

financing: An ALERT regarding current volatile Interest Rates and HOW they can effect your transactions - 06/24/13 04:21 AM
 
An ALERT regarding current volatile Interest Rates and HOW they can effect your transactions  
      Last Friday, after an especially volatile couple of days in the market, I sent out an email to my referral agents, brokers, and others regarding what was taking place as it pertained to Interest Rates ... and how a rise in Interest Rates might effect their clients and transactions.
       Here is my email, as it read last Friday (6/21/2013) ...  
 
     Interest Rates are RISING!
     The markets have been especially volatile over the last few days.  Interest Rates, already … (55 comments)

financing: Is Your Credit Haunted? - 05/06/13 07:10 AM
 
Is Your Credit Haunted?         As a  Mortgage Lender,  one of my most important services is that of credit advisor.  Credit advice (in one form or another, whether it's polishing/improving credit, or repairing it) is needed by clients before, throughout, and even following many transactions. 
      A perfect example of this fact, was the new client I met last Friday.  They were hoping to Refinance their present mortgage to reap alower interest rate and shorter term.   They'd not run a credit report for quite a while, so they had little idea what their current credit scores were.  

(27 comments)

financing: Once Again an Option for Home Buyers: 3% Down Conventional Financing Program - 04/15/13 05:27 AM
 
Once Again an Option for Home Buyers: 
3% Down Conventional Financing Program    
     There's no doubt about it, Financing has been tighter over the last few years.  And, that's as it needed to be.  But it's my opinion, that we are beginning to see some movement towards "loosening" of the tight standards that have now become the norm.
 
     That impression was backed-up by an article I found today in the  New York Times  entitled,  "Signs of Easier Money for Mortgages".  The author of this article speaks of a revival of some types of mortgage … (44 comments)

financing: Question is: What's "Acceptable" and what is "Unacceptable" to an Underwriter? Part 2 ... - 01/08/13 06:56 AM
 
Question is:   What's "Acceptable" and what is "Unacceptable" to an Underwriter?  Part 2 ...                


         In  Part 1  of this post, I answered the mortgage Underwriting questions ...
     "Why do I have to explain a late payment, the reason for a collection, or the reason for a prior bankruptcy?"   and ...

     "Why does an Underwriter care where the money for down payment comes from?"

     Today, I continue addressing  underwriting  questions that I often hear from my clients during their mortgage processing.  Questions, that when prepared for and addressed … (5 comments)

financing: Question is: What's "Acceptable" and "Unacceptable" to an Underwriter? - 01/07/13 05:26 AM
 
 
Question is:  What's "Acceptable" and "Unacceptable" to an Underwriter? Part 1 ...




     Last week, I wrote a post entitled,  "Hansel and Gretel were the original participants of "Survivor".    In that post I related that pre-planning and preparation were key to Hansel and his sister getting back home safely and alive ... and drew the parallel to modern-day mortgage processing.  

     My point was ... pre-planning and preparation prior to entry and  application  for mortgage financing would more safely and quickly deliver you through your mortgage process into becoming successful home buyers.  Keeping … (30 comments)

financing: The Not So Simple Task of Quoting Interest Rates - 08/21/12 03:01 AM
 
 
The Not So Simple Task of Quoting Interest Rates                     I liken Interest Rates to onions in more than a couple of ways.  Much like onions, Interest Rates have "layers".  In today's mortgage financing, a  Mortgage Lender  must weigh all the facts and peel away "layers" of information and data to find and reveal the answers to your  Interest Rate questions.         And right now with Interest Rates being at historic lows (but rising at the time of this writing), the more  you can peel away and sift through those layers of … (26 comments)

financing: My Own Version of the "TOP 10". More Ways to Service More Borrowers - 06/06/11 05:14 AM
 

I figure ... why not have some fun getting my message across? 
Hope you enjoy it too and contact me, should you have questions!
 

Worried about your credit?  I can help there too!
NO cost, NO obligation credit and mortgage
advice ... just a  "click"  away!
Contact me NOW!
 
 
(5 comments)

financing: Should I Stay or Should I Go? Which is the Right Answer for Me? - 08/31/10 03:45 PM


A Musical Introduction:
"Should I Stay or Should I Go"? ... by the CLASH
double-click -
http://www.last.fm/music/The+Clash/_/Should+I+Stay+or+Should+I+Go



Depending on your financial scenario, you may have more than one option to consider for your home financing ... and that's good.  Being in this situation is actually an envious one.  Before you make this important final decision regarding financing programs and rates, gather all the information and facts you need ... ask questions. 
To help you in your decision I have provided two different scenarios to consider below.  Read the explanations and do the math in each scenario.  Put yourself in the … (34 comments)

financing: Thinking of Buying, Selling, or Refinancing a Home? Better Be Prepared To Do Your Homework! - 06/04/10 12:35 PM
 
     The majority of buyers, sellers, and real estate professionals across much of America are facing real obstacles when working towards property sales.  The real estate market and the art of closing transactions has been extremely challenging as of late ... and it doesn't look like it's taking a breather from that anytime real soon.  The good ol' days and ways of closing properties are gone and over!
     My experiences and observations tell me that if you are someone considering Selling, Buying, or Refinancing a home today ... you better do some real hardcore homework and preparation PRIOR to your home search and/or … (2 comments)

financing: What Is The Mortgage Business Like Today? - 03/31/10 06:38 AM
My thanks to Carra Riley of Cosmic Cow Pie for offering me the opportunity to visit with her on her upcoming BlogTalkRadio show April 6th.  (See below for times.)
I hope to educate and clarify for our listeners many of the current issues within the mortgage industry and discuss their impact on the buying, selling, and financing of homes ... and the referral partners that so generously contribute to a lender's success.
Feel free to re-blog this article and the invitation it contains regarding Carra's BlogTalkRadio program.  She's a gem and offers a great opportunity to real estate industry members and home buyers … (8 comments)

financing: When it Comes to Purchasing a Home ... Teamwork is the Key! - 07/30/09 03:56 AM
                                                                                                                                                           
             Anyone that knows me at all, knows that I am a huge sports fan.  Okay ... I'll admit it, sports nut!  Whether it's basketball, baseball, golf, hockey, badminton, or football ... you name it ... I've played it or am interested in watching it.  Heck, I've even gotten into bull riding lately.  (Blame my wife for that one!)
             One of the aspects I like best about sports, is the teamwork that is involved in it.  Even sports typically noted for individual competition, such as bull riding and golf, host big events that are team-related.  And, there is definitely no doubt that, even in these sports where … (7 comments)

financing: First-Time Home Buying ... Fulfilling the American Dream in Today's Market - 03/23/09 09:20 AM
The state of the nation's economy and current housing market is creating quite differing financial scenarios for some americans.  While many are suffering hardships or battling through mortgage mayhem, the very same issues they are facing are causing quite the opposite effect for others and opening up avenues of opportunity. 
Most areas of our country have seen prices of homes and property drop or level-off.  Although admittedly  harder to obtain than in the past because of the financial credit crisis and more stringent guidelines, mortgages are available for those that have a reasonable amount of debt, have good credit scores, and are and have been employed for a set period … (0 comments)

financing: A Smooth Path Towards Closing - 03/22/09 11:48 AM
Recently I have been working on a young couple's application for mortgage that has been less than simple and filled with roadblocks.  Lower credit numbers than previously portrayed during initial conversations were the first hurdle that cropped up and caused some anxiety.  Then came the choice of property.  The home had some "issues" and they only made the appraisal and subsequently the lending more of a challenge.  That the purchase was being arranged for and sold through a government-owned agency added to the dilemma.  It was also becoming quite clear that the realtor representing the couple was inexperienced in this type of transaction.  All sorts of … (3 comments)

financing: Getting the Facts Out - Reverse Mortgages - 03/10/09 03:49 AM
There is only one word I can use to describe the reactions I sometimes receive regarding the topic of Reverse Mortgages.  It is resistance. 
I would also say that at times, people don't even know or completely understand why they are resisting.  All sorts of internal alarms seem to be set-off regarding this topic and I meet a roadblock.  Perhaps because of the age group utilizing these mortgages, special precautionary defenses get called into play emotionally.  Everyone has heard a horror story of a predatory vulture stalking an unsuspecting senior.  And unfortunately, too many times it has been true.
But we must guard against … (1 comments)

 
Gene Mundt, IL/WI Mortgage Originator - FHA/VA/Conv/Jumbo/Portfolio/Refi, 708.921.6331 - 40+ yrs experience (NMLS #216987, IL Lic. 031.0006220, WI Licensed. APMC NMLS #175656) Rainmaker large

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

708.921.6331 - 40+ yrs experience

New Lenox, IL

More about me…

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

Address: Gene Mundt, Mortgage Originator c/o American Portfolio Mortgage Corp., 318 Alana Drive, New Lenox, IL, 60451

Mobile: (708) 921-6331

Office: (815) 524-2280

Email Me



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