firsttime home buyers: Recent Changes to Fannie Mae Deliver Good News to Chicago - Chicagoland Condo Buyers - 08/07/18 11:56 AM
 Recent Changes to Fannie Mae DeliverGood News to Chicago - Chicagoland Condo Buyers   No matter your lifestyle, Chicago - Chicagoland ... with its many diverse neighborhoods and extended surrounding suburbs ... has real estate property for sale that will fit and satisfy your personal tastes, budget, lifestyle, and needs ... Property prices may now also be seen as an advantage to buying in the Chicago - Chicagoland area.    While a post-recession recovery has occurred in much of its extended and diverse housing market, the Chicago - Chicagoland area has not experienced the larger property price increases that other metropolitan areas have elsewhere across the U.S.     For … (4 comments)

firsttime home buyers: First-Time Home Buyer: Is New Construction Your Dream? - 01/23/18 02:43 PM
  First-Time Home Buyer: Is New Construction Your Dream?  
There's a common thread running through much of the current real estate and economic news.  That thread connects, weaves, and embroiders a message regarding a severe inventory shortage found in many U.S. housing markets. I hear about the shortage of homes fairly often.  Many of my clients want to buy, but they're currently finding it extremely hard to find affordable well-maintained homes during their home searches. The home inventory shortage is especially keen in the first-time homebuying and "step-up" markets.  That fact is something that's not going unnoticed by some U.S. homebuilders. A recent article found in NewHome Source reported (via Bloomberg Business) that, "newly constructed … (4 comments)

firsttime home buyers: Have Student Loan Debt? A Solution May Exist For You - 10/04/17 10:13 AM
Have Student Loan Debt?
A Solution May Exist For You 
I'm sure you've seen these headlines or others like them ...
"Debt-Locked: Student Loans Force Millennials to Delay Life Milestones"   
"Yes, student debt is delaying homeownership"
"Student Debt May Prevent Some Americans From Buying Homes"  It's a sad fact.  Student Loan Debt is a huge concern for many consumers in the present economy. And because of that, it's become a huge concern for the commercial and governmental sectors too.  Rightfully so.
In a previous article, "Student Loan Debt Guidelines Simplified by Fannie Mae", I spoke of Fannie Mae, (the GSE, Government Sponsored Enterprise that oversees and ensures mortgage liquidity and guidelines to many Banks, Lenders, … (35 comments)

firsttime home buyers: 1st-Time Home Buyer in Chicagoland? Consider Seller-Paid Closing Costs - 03/04/15 02:29 AM
1st-Time Home Buyer in Chicagoland?
Consider Seller-Paid Closing Costs
     Looking out my office window right now, you'd never know that Spring ... and Spring's busier Chicagoland housing market isn't that far off.  Yet, the Spring time change is here ... and warmer temperatures are predicted soon ...     Chicagoland First-time Home Buyers (those that oftentimes are purchasing homes from the low $100K's to the low-$200K's) and anyone else hoping to buy during this upcoming Spring and Summer markets, should be making plans and taking action NOW.  Not waiting until winter snow disappears from the ground and temperatures are rising.      So, if you're … (19 comments)

firsttime home buyers: What Does 580 + 43 Equal? MORTGAGE APPROVAL! - 03/03/15 07:19 AM
What Does 580 + 43 Equal?   MORTGAGE APPROVAL!          Credit Scores of 580 or higher ... and Debt-to-Income Ratio of 43% or less ... mean FHA Buyers can obtain Mortgage Approval.  
      Other qualifying factors such as:     Employment/Income Stability  Down Payment  Acceptable Credit History  No major credit events, etc.     
     ... are also required to meet or exceed current guidelines. 
     This is good news for First-Time Home Buyers.  And anyone else that may have suffered some minor setbacks on their credit ratings (but otherwise have contributing financial factors in good shape).   


firsttime home buyers: The Changing Status of "Non-Traditional Credit References" - 03/14/13 03:48 AM
The Changing Status of  "Non-Traditional Credit References"  

     When talking with potential clients seeking mortgage financing, one of the very first things I do is provide the address to my website.  I've loaded my mortgage website with helpful info and tools to benefit all those that visit there.

      One of the bits of info that I use and stress the importance of, is my "Mortgage Checklist".  This list includes the info and documentation that is typically needed for mortgage application and processing.   Having this list available ahead of time helps applicants tremendously and makes their mortgage … (33 comments)

firsttime home buyers: Changes are Ahead! The "Perfect Storm" for Buying a Home Will Not Last Forever - 02/05/13 12:13 AM
Changes are Ahead!  The "Perfect Storm" for Buying a Home Will Not Last Forever  
     If you're hoping and dreaming of becoming a First-Time Home Buyer, you're probably currently battling with yourself over the timing of a home purchase.  

     Is NOW the best time?  Or should I wait a bit longer?

     If you have:  
*  A secure job ..  *  Excellent credit .. 
*  Savings for a Down Payment ...  the answer to those questions is probably fairly clear to you.  And you may already have taken steps towards achieving your goal.


firsttime home buyers: I Promise to Love, Cherish ... and Pay My Bills?? - 03/05/12 06:28 AM
 I Promise to Love, Cherish ... and Pay My Bills??

    *  Food for thought: 
          According to the 2010 Current Population Survey (conducted annually by the U.S. Census Bureau), there are about 7.5 million unmarried opposite-sex couples cohabiting in the United States today, a well as another 620,000 same-sex couples. The same source reported that married couples now account for only 48 percent of all households.                 More and more often, especially with young, first-time home buyers, I am assisting unmarried partners with their mortgage financing ... and I'm seeing huge differences in many of … (47 comments)

firsttime home buyers: Considering Helping Your Child Buy a Home? What Parents and/or Co-Signors Need to Know - 02/24/12 11:04 PM
Considering Helping Your Child
Buy a Home?
What Parents and/or Co-Signors Need to Know
   Within the current housing market, there is great opportunity to be found, especially if you're a first-time home buyer.  Home prices are down ... lower than they have been for almost an entire decade.  And Interest Rates??  The cost of borrowing, in regards to Interest Rates, is at historic lows ...   truly a gift, should you be able to take advantage of them.
    With all the positive opportunities that exist, many buyers, along with their families, are looking for ways to … (29 comments)

firsttime home buyers: Addressing First-Time Home Buyer's Worries ... Down Payments, Credit, FHA, & More - 03/30/09 08:39 AM
I recently had an associate that forwarded an article to me regarding the findings of a survey conducted with prospective first-time home buyers.  Being a mortgage banker, he knew the results of such a survey would naturally be of interest to me. 
The information contained within this article surprised me just a little bit, I have to admit.  Maybe it's because I am employed within the real estate industry and sensitive to every move and gesture of it, but it seems to me that news, information, and opinions regarding our industry are everywhere and delivered non-stop.  At times, it feels almost relentless. 
Still, the findings of this … (2 comments)

firsttime home buyers: The Convenience of Modern Technology Regarding Mortgages - 03/09/09 09:43 AM
Especially in today's present economic environment, it's crucial that a lender has the information and tools on hand to educate and enlighten the public regarding credit, debt management, lending and mortgage planning.  Technology and the internet provide important support to this endeavor, with personal websites being almost a "must-have" for the communications now required and demanded by consumers.
Having been in the mortgage industry pre-technology, and now enjoying the benefits that those modern technologies offer, I can say that the speed, efficiency and convenience with which I can provide service to my customers versus the past has vastly improved.  You can work almost anywhere anymore.  Responses to inquiries are virtually instantaneous and information … (3 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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