WHY Home Buying Transactions Must Begin With Home Buyers Getting Pre-Qualified!

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Mortgage and Lending with NMLS #216987, IL Lic. 031.0006220, WI Licensed. APMC NMLS #175656 IL Lic 031.0006220/WI

 

WHY Home Buying Transactions Must Begin
With Home Buyers Getting Pre-Qualified!

 



     I can write and write all day, but until a potential home buyer truly understands WHY and WHERE their home buying transaction must begin, those words can do little.

Link to a FREE mortgage consultation with Gene Mundt, Mortgage Lender

     

     

     Simply put, until a potential home buyer discovers IF they can buy (based upon their verifiable income and credit scores), how do they even know WHERE to start their home search?  Or WHAT homes they can (or should) be viewing?   

     
     To borrow a couple old phrases ... it's my opinion that viewing homes without being  pre-qualified  is like ...

     *  Putting the cart before the horse ... and potentially
     *  Closing the barn door after that horse is out!

    

     Ohhhhh, the many risks that come with viewing homes prematurely!   Why do I feel that way?  Time, effort, and possibly even money are at risk of being wasted. But to me, the emotional risks being taken by a home buyer in these circumstances are the real issue.  They're way too high.  It's like emotional Russian Roulette.
Link to a Full Mortgage Application with Gene Mundt, Mortgage Lender 
     View enough homes and odds are, you'll find one you fall in love with.  But what happens if you cannot buy  or finance  that home?  How do you emotionally proceed with home buying when you find yourself in that situationLet me tell you, it's heartbreaking as a Mortgage Lender to have to deliver that disappointing news. 

     Education is key to preventing the above scenario from occurring to any potential home buyer.  And that brings my post back full-circle.  As I see it, one of my biggest responsibilities (and challenges) as a  Mortgage Lender  surrounds education.  For my clients and potential clients throughout their entire home buying/financing process.  

     It's said that  "a picture is worth a thousand words".  Exactly why I utilize flyers as a way to get my mortgage message across.  They display, in a nutshell, the information and succinct message I hope to convey to those viewing them.

     My most recent marketing flyer addresses the very challenge I mention above ... that of educating a potential home buyer as to WHY they should have a conversation with me, their Mortgage Lenderprior to pursuing any other action regarding a home search.  Hopefully the flyer (shown below) proves motivational.  Let's get started ...

Link to a FREE mortgage consultation with Gene Mundt, Mortgage Lender 

 

     Dreaming of Buying a Home or Refinancing in the  New Lenox/JolietWill County  area, or elsewhere in the Chicagoland region?  Contact me today!  I'll put my 35+ years of mortgage experience and expertise to work on your behalf.  Together we'll discover your home buying and financing options. 

 

     I can be conveniently found at any of the following: 

 

Direct:  815.524.2280
Cell/Text:  708.921.6331
eFax:  815.524.2281   Skype:  630.219.1316
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Gene Mundt

 Mortgage Originator  -  NMLS #216987    

                                 IL Lic. #031.0006220  -  WI License #216987                                                                                                    

NMLS #175656

 

Gene Mundt, Mortgage Originator,  40+ years of #mortgage experience, will offer you exemplary mortgage service and advice when seeking:  #Conventional, #FHA, #VA, #Jumbo, #USDA, and Portfolio Loans in #Chicago and the greater Chicagoland region, including:  The #Lincoln-Way Area, #Will County, (#New Lenox, #Frankfort, #Mokena, #Manhattan, #Joliet, #Shorewood, #Crest Hill, #Plainfield, #Bolingbrook, #Romeoville, #Naperville, #Wilmington, #Peotone, etc.), #DuPage County, the City of Chicago, #Cook County, and elsewhere within IL and Wisconsin. 

 

Your Referrals & Testimonials are Always Greatly Appreciated! 

 

Email Me .. to be added to my Mortgage & Real Estate Newsletter

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Re-Blogged 2 times:

Re-Blogged By Re-Blogged At
  1. Martha Brown 02/13/2013 07:25 AM
  2. Gabe Sanders 02/17/2013 08:50 PM
Topic:
Home Buying
Location:
Illinois Will County New Lenox
Groups:
Mortgages
Chicago Area Real Estate BUZZ!
Posts to Localism
Advice for Buyers
Bananatude
Tags:
credit score
mortgages
home buying
mortgage lender
mortgage prequalification
home buyers
1sttime home buyer
prequalifying for loan

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Rainmaker
1,071,831
Margaret Goss
Baird & Warner Real Estate - Winnetka, IL
Chicago's North Shore & Winnetka Real Estate

You have discovered that you can't say this enough.  There are all sorts of reasons why people don't want to take this important step before they look.  But none of them are worth the time it takes us (real estate agents) to uselessly ferry them around.

Feb 13, 2013 07:01 AM #1
Rainmaker
669,398
Martha Brown
Long & Foster Real Estate, Inc., Annapolis MD 21403 - Annapolis, MD
Your Homes Around Annapolis Agent

So true and I am glad you continue to get the word out. Know what you can afford BEFORE you look for homes. re-blogging. :)

Feb 13, 2013 07:21 AM #2
Ambassador
3,982,858
Debbie Reynolds
Platinum Properties - Clarksville, TN
Your Dedicated Clarksville TN Real Estate Agent

Gene, I am with you on this 100%. Why waste anyone's time not knowing then be disappointed?

Feb 13, 2013 09:08 AM #3
Rainmaker
1,223,014
Gene Mundt, IL/WI Mortgage Originator - FHA/VA/Conv/Jumbo/Portfolio/Refi
NMLS #216987, IL Lic. 031.0006220, WI Licensed. APMC NMLS #175656 - New Lenox, IL
708.921.6331 - 40+ yrs experience

Margaret:  Agree ... it's a total waste of time, effort, and resources for the potential buyer and the real estate professional.  Why take the chance?

Martha:  We keep trying.  Perhaps if we all stick to this message over long enough period of time ... we will succeed in the majority of cases ...

Debbie:  Definitely true!  The emotional toll is too high to take the chance ...

Gene

Feb 13, 2013 10:34 AM #4
Rainmaker
3,796,496
Dorie Dillard CRS GRI ABR
Coldwell Banker United Realtors® ~ 512.750.6899 - Austin, TX
Serving Buyers & Sellers in NW Austin Real Estate

Hi Gene,

You are right on the money..never start seriously working with a client until we know for sure the price range and they can perform!!

Feb 13, 2013 10:57 AM #5
Rainmaker
570,170
Christine Smith
Buyers Brokers Only LLC - www.BuyersBrokersOnly.com - Canton, MA
Exclusive Buyer Agent & Attorney, Canton, MA

Gene....this is exactly what I tell buyers who contact me....a preapproval from a quality loan officer is essential!

Feb 13, 2013 11:40 AM #6
Rainmaker
316,584
Frank Laisch
Orlando, FL
"The Insurance Guy"

Gene, excellent points. Being pre-qualified is a first step MUST before looking at homes. I do like your analogies. …

Feb 13, 2013 08:14 PM #7
Rainmaker
1,223,014
Gene Mundt, IL/WI Mortgage Originator - FHA/VA/Conv/Jumbo/Portfolio/Refi
NMLS #216987, IL Lic. 031.0006220, WI Licensed. APMC NMLS #175656 - New Lenox, IL
708.921.6331 - 40+ yrs experience

Dorie:  You make a good point.  No harm in talking and starting to build a relationship.  But beyond that, pre-qualify!  Otherwise, how do you know where to start?

Christine:  And I so appreciate your support of the message!  It's really for their benefit ... but also yours too.

Frank:  Thank you ... glad you found the analogies worked! 

Gene

Feb 13, 2013 11:26 PM #8
Rainer
284,418
Steven Cook
No Longer Processing Mortgages. - Tacoma, WA

Gene -- another great blog on this important topic -- it would be helpful if the agencies that are trying to help people with their home purchases would broadcast this there might not be so many unhappy potential buyers.

Feb 14, 2013 07:57 AM #9
Rainmaker
1,223,014
Gene Mundt, IL/WI Mortgage Originator - FHA/VA/Conv/Jumbo/Portfolio/Refi
NMLS #216987, IL Lic. 031.0006220, WI Licensed. APMC NMLS #175656 - New Lenox, IL
708.921.6331 - 40+ yrs experience

Steven:  It's true that all of us within the industry should be providing the same advice and guidance regarding pre-qualification.  We'll keep working on it ...

Gene

Feb 14, 2013 10:06 AM #10
Rainmaker
3,302,862
Michael Jacobs
Pasadena, CA
Los Angeles Pasadena 818.516.4393

Hi Gene -- I may show one or two homes to a prospective buyer without a mortgage pre-approval letter to see if there can be a working relationship and after asking some important questions but showing properties for days or weeks without knowing the ability of a buyer to actually close a transaction is one of the most futile activities a Realtor can engage in.    

Feb 18, 2013 01:53 AM #11
Rainmaker
1,223,014
Gene Mundt, IL/WI Mortgage Originator - FHA/VA/Conv/Jumbo/Portfolio/Refi
NMLS #216987, IL Lic. 031.0006220, WI Licensed. APMC NMLS #175656 - New Lenox, IL
708.921.6331 - 40+ yrs experience

Agree, Michael ... it just makes sense to make sure that a client is qualified and CAN buy a property prior to investing too much time or effort on their behalf ...

Thanks for commenting!  It's much appreciated ...

Gene

Feb 18, 2013 02:25 AM #12
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Rainmaker
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Gene Mundt, IL/WI Mortgage Originator - FHA/VA/Conv/Jumbo/Portfolio/Refi

708.921.6331 - 40+ yrs experience
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