real estate: Be Prepared & Safe for the Coming Winter: Perform These Chicagoland Fall Home Maintenance Measures Now - 09/25/19 02:20 PM
Be Prepared & Safe for the Coming Winter:
Perform These Chicagoland
Fall Home Maintenance Measures Now
Seems like we were just talking about the beginning of warm weather and summer pursuits ... 
But here we are ... already putting pumpkins, cornstalks, and fall mums out to decorate our homes.  
Yes, it's hard to believe, but Fall has officially arrived and colder temperatures can't be too far behind.

That, of course, means that fall maintenance chores should be done.  And whether a personal residence or an investment property, there's plenty to do.  Performing fall maintenance chores now will prevent breakdowns, damage, or discomfort during the harsher, colder weather … (6 comments)

real estate: Considering the Purchase of a Condominium or Townhome as an Investment Property? - 09/17/19 11:08 AM
  Considering the Purchase of a Condominium or Townhome as an Investment Property?   Have you been thinking about entering the real estate market as a first-time investor?   Could your investment purchase include a condominium or townhome?   It's something many are currently considering as each property type can offer advantages to an investor looking to dip their toes in the real estate investment market for the first time.   Here's one example of that being true ...   Exterior maintenance of Condominiums and Townhomes is typically taken care of by the HOA (Home Owners Association).  The HOA pays for the maintenance out … (15 comments)

real estate: Be Prepared! Act Proactively! Gather & Retain this Documentation & Info for Future Mortgage Application - 07/22/19 12:19 PM
Be Prepared! Act Proactively!
Gather & Retain this Documentation & Info
for Future Mortgage Application
There is typically one bit of knowledge that the overwhelming majority of home buyers already know when they contact me for a mortgage ...  
They know they'll need to provide "a boatload" of information and documentation to get their mortgage ball rolling.  
What exactly does "a boatload" entail?   Well, they're not sure about that.
And that's certainly understandable.  Until you've actually gone through the process of pre-qualifying and applying for a mortgage, there's typically no exposure to or need for that having that kind of information.
But if you're someone that:

real estate: 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)

real estate: Establishing Legal Ownership: Condos, Dwelling Parcels, PUDs - 12/07/18 10:03 AM
Establishing Legal Ownership:
Condos, Dwelling Parcels, PUDs
I've "been around" ...
Around the mortgage business, that is.  For over 40 years.
And during those 40 years,  besides being a Mortgage Originator, I also held an IL Real Estate Appraiser license for around 2 decades.  Plus I was honored to serve on my local Village Board.  
My time served on that Board included working on a Comprehensive Plan for the Village and on the Building and Zoning Commission.  Each capacity fulfilled provided me with amazing opportunities to learn and expand my knowledge.  Most importantly for me was what I learned regarding real estate and the financing of it.  … (14 comments)

real estate: A Mortgage Originator's View of Property Valuations - 10/24/18 12:22 PM
A Mortgage Originator's View of Property Valuations
Recently I read an article by Appraiser Tom Horn (Birmingham, AL) entitled: "How do Appraisers Calculate Price per Square Foot?" ...  

Soon after reading this informative article, I received an Appraisal in my office on a (purchase) transaction I was originating.  
The article and the appraisal motivated me to write the following post.  It summarizes a few of the issues addressed in Tom's article and those I confront fairly often within appraisals I receive.   

Appraisals and the act of appraising are of great interest to me.  My interest doesn't spring solely from the fact that I'm a Mortgage Originator and appraisals … (20 comments)

real estate: Our 1st Home was "Imperfectly" Perfect - 03/15/17 02:00 PM
Our 1st Home was "Imperfectly" Perfect 
This post is written in response to Paul Henderson's challenge to write about our "unique and special" homes ...
When Paul says it's a "challenge", he's right.  I feel every home I've had the pleasure of living in holds a special place in my heart.  Each represented a specific milestone or offers memories of wonderful times.
I know I'm uniquely fortunate to be able to still go back to the place I called "home" as a kid. That home located on Thelma Street in Manhattan, IL has been the Mundt Family home for over 65 years now.  Mom … (21 comments)

real estate: How Much Do You Know? Newsletter by Gene Mundt, Mortgage Originator - 04/15/16 02:09 AM

If you go on Facebook*, you don't have to be there long before you run into an opportunity to take a quiz ... or see a friend posting the results of a quiz they took.  They're extremely popular right now.
Admittedly, some of the quizzes you see are kind of silly or obviously for entertainment only.  But some I've seen are remarkably insightful and offer a chance for real learning.
So I searched and found some quizzes that I thought could prove helpful to you, other homeowners, and those dreaming of becoming homeowners ... and yes, some quizzes to take just for the fun of it too.  I hope … (7 comments)

real estate: 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)

real estate: 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)

real estate: Gene Mundt, Mortgage Lender's "Mortgage, Real Estate, & Credit News!" - November 5, 2014 - 11/05/14 02:06 AM

Did you have snow at your house this last weekend?  Don't know about you, but I'm not ready for it, at least mentally.  But yet, clocks were turned back, we ushered in the month of November, and dragged our winter coats out of the closet over the last week.  So ready or not, here comes winter and the upcoming Holidays!   Below you will find some activities, suggestions, tips, projects, and a recipe to help you prepare and manage the cold weather months to come.     Enjoy!         All The Important Things You Need To Know … (8 comments)

real estate: The Hidden Truths Within Bankruptcy Filings - 10/20/14 03:48 AM
The Hidden Truths Within Bankruptcy Filings
     We've arrived at an unique point in the world of home buying and financing.  It comes on the heels of several years of financial hardships, unprecedented foreclosures, and job losses.   
These challenges faced have often lead to the filing of Bankruptcy.  What's been contained, or included, in these Bankruptcy filings, are referred to as "Schedules".
     First of all, let's understand the "layers" and the timelines involved in a Bankruptcy. 
     First, there is a:  Filing Date.  
     That is followed by a:  Discharge Date, a date that's usually a few months after … (2 comments)

real estate: Gene Mundt's Mortgage News You Can Use - June 2nd, 2014 - 06/02/14 06:57 AM
       Here's some info and articles I thought you'd find educational and beneficial now and for the future.  Should you have questions, please contact me ...           Are you possibly selling your home or moving sometime in the near future?  The following article is full of helpful tips and suggestions for working with a moving company.
      8 Things to Know About Working with Movers ...  
     As always, if you've got questions or are in need of service, please give me a shout.  I'll be happy to hear from you and help! … (8 comments)

real estate: In Today's Real Estate Appraisals: Info is King, Data is Available - 02/25/14 02:38 AM
In Today's Real Estate Appraisals: Info is King, Data is Available          In this automated day and age, a huge amount of real estate sales data is readily available to professionals ...  
      With a few clicks and the entry of a few parameters, a Real Estate Appraiser can create an instantaneous list of data for their viewing and use.  Appraisers can realistically and confidently expect that they have a reliable process of finding the most recent, most proximate, most similar property types, featuring the most similar functionality and amenities for their Appraisal Reports at their disposal.   … (18 comments)

real estate: Mortgage & Real Estate News You Can Use: Week of February 12, 2014 - 02/12/14 05:59 AM


real estate: What Helps a Chicagoland Appraisal and its Comparables Survive the Scrutiny of Underwriting? - 08/26/13 07:23 AM
What Helps a Chicagoland Appraisal and its Comparables
Survive the Scrutiny of Underwriting?
     Mention the words Appraisal and Underwriting together in the same sentence these days  and you likely better stand back.  The reaction you receive could be fast and furious!

     In Mortgage Lending and Underwriting, nothing is taken at face value.  Verification of everything is called for.  Re-checks and reviews are the norm.  And the Appraisal (the collateral for the Mortgage financing) is certainly a key component and focus of today's Underwriting.  
     Most Chicagoland Mortgage Lenders and Agents will tell you that they suffer a bit … (11 comments)

real estate: 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)

real estate: How to Choose Your "Super" Mortgage Lender - 02/14/13 05:51 AM
How to Choose Your "Super" Mortgage Lender  
     One of the questions I see crop-up often on real estate websites such as  Zillow  and  Trulia  comes from  First-time Home Buyers.  It concerns HOW they should go about looking for and choosing the  Mortgage Lender  for their first home's financing.

     Often, in response to these questions, I see others offering up the name of a lender they know for contact.  And I suppose if that name crops-up multiple times, that does provide at least a starting point from which a home buyer can work.


real estate: Hey, You Are Damaging My Brand - 01/05/13 01:45 AM
I thought this post by  Debbie Reynolds, Prudential PenFed Realty,  so timely .. so very important for all of us to mull over, that I'm re-blogging it today.  Contemplating this very issue awhile ago drove me to change companies.  There were just too many outside influences ... others surrounding me ... that were negatively influencing how my services were perceived.  So I took action.
I pass this on with the hopes that this post raises the level of awareness regarding this issue.  And that what we do influences and reflects on others, besides ourselves ...
Thank you to Debbie Reynolds … (6 comments)

real estate: Understanding Real Estate Appraisals. How Appraisals can effect the outcome of your transaction - 06/23/11 09:48 AM
 Understanding Real Estate Appraisals.
How Appraisals Can Effect the Outcome
of your Transaction
     Inevitably there's a point during my conversation with almost every new mortgage client that the talk turns to the property appraisal.  If the client themself brings up the topic, it's an indication to me that I'm speaking with an educated buyer. That buyer has already done some homework regarding mortgages already ... and that's good.
     Typically, new home buyers and homeowners want to know the basics of the appraisal. Who is going to do the appraisal? Will they get to see it? Will they … (38 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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