refinance: How Financing Options are Affected by the Rise & Fall of Federal Reserve Interest Rates - 09/26/19 10:41 AM
  How Financing Options are Affected by the Rise & Fall of Federal Reserve Interest Rates    My phone is ringing off the hook these days ...
The latest move by the Federal Reserve has garnered lots of attention and piqued the interest of many.  Many of my callers are wondering:   Have mortgage interest rates fallen? If so, how much have they fallen? How might this affect my current mortgage? How does this affect the financing options I have?
Answering those questions is not as easy as it might seem, as each caller     (and consumer) possesses their own individual financial standing and credit history.  As a result, … (25 comments)

refinance: Have a HELOC and First Mortgage? Pay Them Off With a Jumbo Loan - 06/03/15 04:40 AM
 
Payoff a HELOC and First Mortgagewith a Jumbo Loan       There was once a time where interest rates on Jumbo Loans were typically  1/4%  to  1/2%  higher  than "conforming" loan amounts.      Jumbo Loans are: Loans with a beginning Principal Balance of $417,000 or greater (in most areas)       Or ... 
Loans with a beginning Principal Balance of $625,500 and above (in 46 U.S. Counties considered "high-cost areas)     Conforming Loan Amounts are:
 Loans with a beginning Principal Balance of less than $417,001.
     During that time, it was very common for a higher-end homeowner to borrow the maximum Conforming Loan amount ($417,000 or $625,000), and then … (5 comments)

refinance: 3 Reasons Why Borrowing Money To Buy or Refinance a Home Makes Sense Right Now - 12/06/12 04:00 AM
 
3 Reasons Why Borrowing Money To Buy or Refinance a Home Makes Sense Right Now          With  FHA and HUD  and economists announcing their predictions of higher interest rates (sooner than later) and recent history indicating interest rates can't get much lower,NOW seems like the perfect time to Buy and Sell home.  And that may be especially true if you're a First-time Home Buyer.          Present Homeowners can also position themselves for a brighter financial future with a Refinance of their present mortgage and securing a mortgage term reduction or lower interest rate. Gary Ryan Blair, … (27 comments)

refinance: Ho! Ho! Ho! Don't "SAVE" or "BARGAIN" Yourself Right Out of Buying Your New Home - 12/03/12 02:37 AM
 
Ho! Ho! Ho! Don't  "SAVE" or "BARGAIN" Yourself  Right Out of Buying Your New Home            I've  written on this topic  before, but the Holiday season has rolled around once again ... and I think the topic so very important, that I'm revisiting it.  Admittedly, a  CBS "Money-Watch" article  I saw just this morning triggered my action too ...          It's Holiday Shopping Time!  And that means "bargains" are everywhere and consumers are often buying Holiday gifts on credit.  It's natural (and smart) to look for "bargains", no doubt about that.  But what about those … (75 comments)

refinance: Jumbos are Back! - 11/17/12 05:25 AM
 
Jumbos are Back!  
 
     Chicagoland has many areas within it that traditionally can support the use of Jumbo Mortgages ... those mortgages that are higher dollar amounts than the norm or average that exceed allowable limits for "conforming" loans , eligible for placement with Fannie Mae/Freddie Mac.
 
       With many of the housing markets in Chicagoland, and across the nation, now experiencing a resurgence in sale prices, the interest in  Jumbo Mortgage  products is returning.  Both clients and agents alike are  contacting me  for information about availability of this type of financing ... and about … (8 comments)

refinance: Be Prepared for Mortgage Application. Start Gathering These Documents NOW! - 11/02/12 05:17 AM
 
Be Prepared for Mortgage Application. Start Gathering These Documents NOW!  
      
     Thinking about Buying a Home or Refinancing soon?        Read on and be better prepared when applying for your new  Mortgage ...
 
       The news and blogs are currently filled with stories regarding the huge and sometimes overwhelming demand for documentation during the mortgage lending process.  There is much talk regarding the number and kind of requests currently made for proof of finances, payments, credit, and more by Mortgage Lender and Underwriters during the  processing of loans.      It's my opinion that we won't … (26 comments)

refinance: The large number and array of calls and questions I received and answered in just one weekend prove beyond a shadow of a doubt ... - 10/15/12 07:19 AM
 
The large number and array of calls and questions I received and answered in just one weekend prove it beyond a shadow of a doubt ...
 
 
 
    
     The market is changing!  I'm hearing a huge assortment of questions regarding mortgages once again ...
 
     This weekend's calls and contacts brought me a full array of  questions regarding mortgage financing.  Their questions showed me they're paying attention and doing their homework in advance to  contacting  me.   It also shows that  THEY ARE GETTING  GOOD, SOUND GUIDANCE  FROM THE AGENTS and PROFESSIONALS THEY ARE CHOOSING … (50 comments)

refinance: Loan Modifications ... Refinance. Present Options That Can Exist ... - 12/13/11 07:05 AM
Loan Modifications ... Refinance Present Options That Can Exist              It seems lately, that I've had more and more questions from homeowners about  "Loan Modification", as they continue to struggle within today's challenging market and economy.         Agents and many of my other referral partners also want to know about them, and other financing options that might exist, too.  THEY are getting quizzed by homeowners (and potential buyers) regarding Loan Modifications too ... especially now after the governments release of information regarding the upcoming HARP 2.0.  It seems, you can't be doing business within the current market and … (11 comments)

refinance: Schools are Back in Session. Are You Planning on Learning Anything New This Fall? - 08/29/11 09:53 AM
    
     Most kids across our nation are back in school now or heading back very shortly.  For most Americans, this annual ritual represents the beginning of Fall, no matter the temperatures outside.
     What lies ahead for our kids during their school year? Limitless chances to learn new things and experience new adventures.  They will discover new opportunities to grow ... spread their wings in the classroom and beyond.      Maybe as adults, we need to view Fall in the exact same manner for ourselves.  And with the same frame of mind.  We should continue to see Fall as … (4 comments)

refinance: Cash-In Refinance. Nothin' New. Nothin' Revolutionary. - 09/29/10 12:10 PM
 
 
Cash in Refinance.  Nothin' New.  Nothin' Revolutionary. 
By Gene Mundt, Professional Mortgage Banker  -  Chicago Bancorp

     
     The concept of bringing "Cash In" to Closings of a Refinance is nothing new or revolutionary ... but it HAS become more common these days.            
     Why?       
     Home Values have declined in most U.S. housing market regions.  Yields on stocks, bonds, and other investments are dwindling ... and Mortgage Rates are hovering at, or under 5%.  (This last statement should be making those Americans looking to Buy a Home or Refinance salivate).       
     If any … (14 comments)

refinance: Today's Credit Equation For a Successful Transaction - 08/29/10 12:46 PM
 
 
     In today's challenging financing world and real estate market, you must make sure you are working with the right professional and possess the right equation to reach a successful conclusion to your real estate transactions.  Whether it be enhancing your credit scores, refinancing, or buying a new home, these main elements remain the same.
     I can't overemphasize the importance of credit to this equation.  Your credit is the foundation on which everything else is built.  Have a poor foundation of credit, and your transaction ...your finances become fragile or crumble completely. 
     Intelligent credit design is all important, so seeking … (9 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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