Because of ongoing events and the current low-interest rates being seen, many homeowners are contacting me and asking ...
"Would a Refinance of my present mortgage be a smart move?"
My answer to them is typically, "Well, it depends." It's easy to see why most callers think my response should be a quick and simple yes or no. Most articles I've run across do tend to portray it in that manner ... as "right or wrong" or in stark black and white terms, with an answer solely based on dollars and cents alone. And that can be true … (14 comments)
prequalification for mortgage: Lethal Mix: Procrastination and Mortgage Financing
- 01/29/20 08:25 AM
Lethal Mix:Procrastination and Mortgage Financing If you read about real estate and financing much at all, you've probably run across numerous articles that spoke to the challenges and frustrations that can be found in modern-day transactions and their financing ... And as a mortgage lender, I won't deny that it can be true. Challenges and frustrations exist. For clients and professionals alike. But ... and there's always a "but", right? In most cases, those challenges and frustrations don't need to be overly stressful, insurmountable or deal-killing. Answers and solutions typically do exist. It's been my experience, that what causes or contributes to many of the issues and challenges … (5 comments)
prequalification for mortgage: What a New Millennial Survey Teaches Us ...
- 08/29/19 09:49 AM
What a New Millennial Survey Teaches Us ... While Millennials are currently reported to be buying homes at a faster pace than in the past, many of those that wish to buy are presently being stymied ... What is it that Millennials feel stand in the way of their home buying dreams? And what number feel that they are fundamentally incapable of buying? A survey conducted by LendEDU attempts to shed some light on these questions. The June 2019 survey indicates that while many Millennials long for homeownership, nearly 90% of non-homeowning Millennials hoping to buy have not done so yet. Why not? Most taking the survey indicated that their student loans were/are the biggest deterrent to taking this big … (26 comments)
Another weekend is just around the corner ... do you have plans?
Silly question, I know. But even if you already have a boatload of activities on your calendar, carve out enough time to add one more important activity.
Check your credit and credit scores!
It only takes a couple of minutes to request your free Credit Report on annualcreditreport.com. You fill out a simple form and "viola"! It's really pretty easy peasy.
While this one simple act is accomplished quickly and easily, it's well worth doing as it reaps you long-term benefits. So … (28 comments)
Taking The Mystery Out of Credit Score Calculations
Credit ... Credit Building ... Credit Repair ... Credit Reports ... Credit Scores ... Credit Scoring ... I feel a bit like Bubba in Forrest Gump at times when I speak or write of credit-related things ...
Why? Because such a large number of the questions I receive as a Chicagoland Mortgage Originator revolve around credit and credit topics. And rightfully so, as credit ... and all things reliant upon credit ... make our world go 'round.
Our credit and our credit standing (via Credit Scores) affect everything about our lives. From simple and modern daily needs like acquiring cell phones and … (22 comments)
Have you set yourself a goal of buying a home in the Chicagoland area?
If serious about buying, I'm betting you've tried to grow your savings, improve your credit standing, and raise your credit scores ... and chosen to work with a Mortgage Originator (because that's the fastest most efficient way) to help you do so. You've been successful and you're now in a much more advantageous position to buy. But what comes next?
Because of your decision to work pro-actively with an Originator prior to entering the home buying/financing process, you're ahead of many mortgage applicants. … (6 comments)
Be Pre-Qualified for your Mortgage before you go and view homes! There, I've said it. First thing. Right out of the box. So it can't be missed. I place that advice right at the top of this post in bright colors so it's not overlooked. And because it's such a very important message, especially for buyers hoping to purchase a home in a highly competitive housing market. Right now, homes for Sale are receiving lots of attention. The shortage of homes currently for sale in most housing markets dictates that. This means that Buyers must be decisive and ready … (38 comments)
Brrrrr ... But that doesn't mean that you can't dream and plan for Spring or warm weather activities. If presently a Chicago-area home owner and dreaming of selling your home ... and buying a new one ... there is good news. Most present indicators point to 2015 being a good year to do that. It's predicted that move-up Sellers, as well … (7 comments)
prequalification for mortgage: Are Easier Financing Requirements Ahead?
- 11/25/14 05:36 AM
Are Easier Financing Requirements Ahead? Recently (and I'd say somewhat unceremoniously given the importance and need for the announcement), Fannie Mae and Freddie Mac announced the easing of Financing Guidelines ... including the news that they're bringing back the 3% Down Payment - Conventional Mortgage. Good news, no doubt about it. But even more changes are needed ... Mortgage Lenders and Agents (and the public) are still anxiously awaiting the much-needed relief demanded to relax the tougher standards that came as a result of the housing recession/crisis that arrived in the mid-2000's. A crisis from … (50 comments)
prequalification for mortgage: A Recipe for Disaster: Entering your Mortgage Transaction "Flying by the Seat of your Pants"
- 02/10/14 11:31 PM
A Recipe for Disaster: Entering your Mortgage Transaction "Flying by the Seat of your Pants" Have you ever heard the old saying "flying by the seat of your pants"? I sense that's exactly what some of my potential clients are doing when they first talk to me about buying and financing a home. It's like the idea of Buying a Home dawned on them in the middle of the night in the middle of some dream. In this day and age of more challenging housing and financing markets, it's not wise to be "flying by … (14 comments)
prequalification for mortgage: The Modern Mortgage and Mortgage Process are Much Like a Fingerprint or Snowflake ... No Two are Alike
- 07/17/13 07:17 AM
The Modern Mortgage and Mortgage Process are Much Like a Fingerprint or Snowflake ... No Two are Alike Yesterday, I received a call from a First-Time Home Buyer. During that call, my young caller's inquisitiveness and enthusiasm ran high. He peppered me with question after question regarding Mortgages and the Mortgage Process. And I loved every single minute of it. The questions he asked covered a wide range of topics and went into quite a bit of detail. He'd obviously prepared ahead of time for the call. Everything from Mortgage programs ... to the value of … (10 comments)
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)
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