mortgage financing: Jumbo .. or Piggyback Loan. Which is Best? - 01/05/15 04:46 AM
  Jumbo .. or Piggyback Loan.  Which is Best?     
                                           
                                                                                    "Ask the right questions if  you're  
                                                                     going to find the right answers."            
                                      … (25 comments)

mortgage financing: Real Estate Round Table #1: Making Chicagoland First-Time Home Buying Easier - 12/12/13 02:23 AM
 
Real Estate Round Table #1: Making Chicagoland First-Time Home Buying Easier
     They say stepping out of your "comfort zone" and showing a willingness to do new things is good.  That lesson is valid whether you're talking about buying a first home or doing your first webinar.  I did the latter just  this morning ...
     With the assistance of small business and real estate consultant, facilitator, and wonderful friend Carra Riley, I tackled my first online webinar today.  A webinar that addresses the other "first" I speak of above ... Buying a First Home.  
     There were a few … (15 comments)

mortgage financing: When Should a Will County - Chicagoland Home Buyer First Seek Financing Guidance? - 10/22/13 07:41 AM
    When Should a Will County - Chicagoland  Home Buyer First Seek Financing Guidance?    
     As a Mortgage Lender, I recommend that potential Home Buyers contact me up to one year in advance of their purchase.  That is especially true when that Home Buyer is a First-Time Home Buyer.  And here's why ...        I recently had a young newly-engaged couple contact me for Mortgage financing.  They were hopeful First-Time Home Buyers wanting to learn how well they were currently positioned to buy a home.  They also wanted to know more about their Mortgage financing options and … (22 comments)

mortgage financing: Why are Federal Tax Returns Important to the Mortgage Process? - 10/17/13 06:03 AM
 
Why are Federal Tax Returns Important to the Mortgage Process?
     A recently submitted file reminded me yet again, of the pressing need within Mortgage Processing for Income Verification to the "n'th degree" ...  
    
     The topic of Income Verification is sometimes a topic that mystifies my Mortgage applicants.  They question why they must produce so much paperwork and so many documents.  The requests seem "over the top".  
    
     A Mortgage Lender requires that Borrowers provide a Federal Tax Return, including all Schedules, W-2's, 1099's, and also that the IRS confirms those figures via tax transcripts.  Current lending requirements demand that … (25 comments)

mortgage financing: Say Yes to that New Store Credit Card: Can it Derail Your Dreams of Buying a Home? - 09/29/13 02:24 AM
 
Saying Yes to that New Store Credit Card: 
Can it Derail Your Dreams of Buying a Home? 
       My wife and mom went shopping together one day this last week.  Both have already started thinking about Christmas shopping.  Seems they're not alone.  

     If you've watched much TV over the past few weeks, you've probably caught a commercial or two heralding the approaching holiday retail shopping season.  Holiday decorations to put you in a holiday shopping mood have begun to pop up in stores too. 
     Yep ... the "push" for your holiday shopping dollars has officially begun and we haven't even seen Halloween yet .  And … (14 comments)

mortgage financing: How Do we Fix the Problem of Reality? - 07/19/13 03:13 AM
  How Do we Fix the Problem of Reality?
     This morning I was on Facebook.  I'm connected with many other professionals there.  Many of them are from ActiveRain.  
     One of those AR professionals is  Charita Cadenhead, Keller Williams Realty,  in metro Birmingham, AL.  Charita's a jewel and has become a favorite of mine.  I just love her spirit and outlook.  Today Charita wrote on her FB timeline,  "There doesn't always have to be someone to blame when things go wrong. Sometimes stuff just happens."  
     Whew ... did she hit a chord.  That darn reality!
     Just the other day, I … (53 comments)

mortgage financing: Survey Says ... On Average Only 5 Hours of Research Devoted to Mortgage Search - 07/12/13 01:54 AM
Survey Says ... On Average Only
5 Hours of Research Devoted to Mortgage Search
     In 2008, Zillow conducted a survey to find out what time expenditure was given by the average Home Buyer when researching mortgage financing.  Zillow had many reasons at the time for wanting this info, but were also interested in making a comparison between the hourly expenditure for mortgage financing and the time allotments given to other types of purchases.  
     What their survey found was that the average expenditure of time given for mortgage financing research was only  5 hours.  Mind boggling, to say … (30 comments)

mortgage financing: Warning: Credit Bureaus Don't Forgive or Forget Quickly! - 04/10/13 02:23 AM
 
Warning:  Credit Bureaus Don't Forgive or Forget Quickly!      
     Today, I am frustrated ...
     And the scenario over which I am so frustrated has now popped-up a few times within a very short time.  

     What's the scenario?

     Multiple new clients have contacted me for financing. Both purchase and/or refinancing assistance has been requested.  Many of these clients have related that they have been contemplating taking action for a quite a while.  Great!  So what's frustrating about all of this?

     A handful of these clients have made late payments … (24 comments)

mortgage financing: The Questions You Should Ask Your Mortgage Lender in Order to Receive the Best Mortgage Financing for Your Needs - 02/21/13 06:12 AM
 
The Questions You Should Ask Your Mortgage Lender in Order to Receive the Best Mortgage Financing for Your Needs


     In earlier posts, I have addressed some major issues surrounding mortgages, mortgage processing, and mortgage closings.   

     In my post,  "WHY Home Buying Transactions Must Begin With Home Buyers Getting Pre-Qualified!",  I spoke of the great importance of being  pre-qualified  for your mortgage financing prior to viewing homes.   In   "Your Preparation and Planning for Buying a Home Needs to Start Well in Advance of Your Viewing of Homes",  I addressed the time-frame … (12 comments)

mortgage financing: Hoping to become a successful Spring home Seller and Buyer? Part 1 ... - 01/03/13 05:49 AM
 
    
Hoping to become a successful Spring  home Seller and Buyer?   Part 1 ...             In Chicagoland, as in other colder climate regions of the US, the next few months most likely mean cold weather.  Blistering winds.  Snow.  Ice.   
           Brrrrr ...       Does the thought of that have you dreaming of spring and warm weather activities already?          If you're presently a home owner and your dreams include selling your home and buying and moving into a new one during the upcoming year ... all indications are that  2013 will be a good … (5 comments)

mortgage financing: It Only Takes One Click. One Call ... to get started - 12/20/12 10:49 AM
 
 
It Only Takes One Click.  One Call ... to get started      Yesterday I read an article that provided the results of a new Trulia study that stated:
 
"93% of young adults (those between the ages of 18 to 34 years of age) that are currently renting, plan to purchase a home".  
                Great news!  But the article went on to say, that these young adults believe that the current, historically low interest rates will last ... and that because of that, they may lose out on today's unique and golden opportunity within … (10 comments)

mortgage financing: Don't listen to the noise or static around you. Make wise CHOICES based upon the facts contained within YOUR personal mortgage financing scenario ... - 10/29/12 06:08 AM
 
 
Don't listen to the noise or static around you.  
 
Make wise CHOICES based upon the facts contained within
YOUR personal mortgage financing scenario ...  

      Choices ...

                       They exist in every walk of life.  They come in big and small sizes, with big and small consequences.  And they arrive on your doorstep during almost every second of your day.             While Home Buying, you most certainly confront many CHOICES throughout your mortgage financing process.  From beginning to end, you are asked to … (6 comments)

mortgage 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)

mortgage financing: Being Pre-Qualified for your Mortgage Financing doesn't have to be Scarey. Eliminate the Fear Factor. - 08/07/12 09:25 AM
 
 
Being Pre-Qualified for your Mortgage Financing doesn't have to be Scarey.  Eliminate the Fear Factor                    Even after reading only a few of my mortgage posts, you'll probably pick-up on this  recurring theme  ... the importance of being prepared for your mortgage processing.        I feel strongly that whether you're in the infant stage of your pursuit, further along and actively seeking a property and financing for that home, or heading to the Closing itself, your success is dependent to an unbelievably large degree on how well prepared you are.      … (12 comments)

mortgage financing: I'm Adding MAGIC to my Mortgage Services ... - 07/02/12 08:51 AM
 
 
I'm Adding Magic to My Mortgage Services              Ever have one of those days where you found yourself wishing you had magical powers at your fingertips?   ZAP!!!   Anything you want!  Done!  Awarded!                    I read multiple blog posts this morning that made me wish that today could be one of those magical days.  The posts' topic?  They were all written about current interest rates and where they might be heading.  Lots of room for speculation and discussion in that topic!         Personally?  I think at times the focus on … (28 comments)

mortgage financing: Put a Little Thought & Effort into It ... Prepare for Your Mortgage Application - 07/01/12 12:36 AM
 
 
Put a Little Thought & Effort into It ... Prepare For Your Mortgage Application           H. Jackson Brown Jr.The best preparation for tomorrow is doing your best today.                     A few days ago, I took an  application  for some new home buyers. I'd talked multiple times with both the husband and wife leading up to the time of their ap.               Following my habit, I'd included a link to my   mortgage website   in every email to them, along with my other contact info. … (6 comments)

mortgage financing: Dispelling Nasty Rumors Regarding Down Payments - 02/10/12 02:05 AM
 
 
Dispelling Nasty Rumors Regarding Down Payments      
          "Rumours" ... catapulted Fleetwood Mac to the top of the charts during the year 1977 ...
         "Rumors" ... was the name of an episode on the TV program Glee this last spring ...           And Rumors ... are once again swirling about the amount of down payment a borrower needs to buy a home and obtain mortgage financing in the current market.         THOSE rumors don't sound pretty.  THOSE rumors don't make you smile or tap your toes.  Nor are they humorous … (10 comments)

mortgage financing: Driving the path to Home Ownership. Be prepared ... it's a "tollway" ... - 04/05/11 09:05 AM




Fact:
84% of Americans still believe that owning a home makes more sense than renting. (Even 68% of renters believe owning makes more sense). Buying a home is considered safer than buying stocks by over 3 times the number of people (64% vs 17%).           Statistics Courtesy of: National Housing Survey by Fannie Mae/4th Quarter 2010 Report


    
    The above statistics provided by the 4th Quarter 2010 Report of Fannie Mae's "National Housing Survey" prove ... Americans are still in love with the thought of owning their own homes.
     I think … (7 comments)

mortgage financing: Spring is the season for new life, renewed hope, home sales activity ... and baseball - 03/14/11 10:46 AM
 
     What do you think of when you think of Spring?
     Warmer weather .. budding trees ... plants popping up. Newborn animals ... grass turning green ... kids outside playing again ... adults out sprucing up their yards. They all come to mind.  But to me, nothing says Spring like Baseball. The two are simply synonymous.
     I guess it's not surprising then, that for someone that makes his living in the real estate mortgage industry ... the Spring Real Estate Market always takes on the feeling of a new baseball season. I view it as a time of … (4 comments)

mortgage financing: Reality Home Buying ... the Numbers Don't Lie. Buying NOW vs LATER ... - 02/08/11 05:10 AM
 
 
     Timing is said to be everything ...
     And whether you live in the Chicagoland area or elsewhere, right now, that has never been more true.  Timing the market ... for stock purchases or buying a home ... is very important.  
     Many people are presently asking themselves,  "Do I jump into the market now?  Or, will values (real estate or stock) begin to rise or fall even more?   
 
     If you've been trying to make your mind up about buying a home  in Chicagoland, or elsewhere across our nation for some time now ... say during much of '2010' ... you personally waited during … (18 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

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