This Message is So Important, it Bears Repeating

By
Mortgage and Lending with NMLS #216987, IL Lic. 031.0006220, WI Licensed. APMC NMLS #175656 IL Lic 031.0006220/WI
https://activerain.com/droplet/5gfx
 
 
This Message is So Important, it Bears Repeating
 
 
Home buying is often spoken of as an uphill, stressful challenge ...  


And while it's true that there's much to know and do during the mortgage process ... the following is also true:  

Buyers retain much of the control in determining how quickly and fluidly they navigate the process.

You ask, "how?"  
 
Education and knowledge.  
 
Simply, borrowers that gain a working knowledge of how the mortgage process works and progresses, know what will be expected of them, and stay engaged and utilize that knowledge ... help themselves immensely prior to and throughout their mortgage process.  
 
That knowledge is powerful.  That knowledge helps during their decision-making.  It helps them retain control of their destiny.

Sadly, commonly held misconceptions surrounding the mortgage process linger, both in publicly-shared stories and on the internet.  All too often, these misconceptions contribute to buyers' fears and elevate the level of stress they feel when entering into home buying and financing.  

Suffice it to say, as a Mortgage Originator I consider challenging and dispelling misconceptions surrounding the mortgage process absolutely paramount. As one of my main responsibilities. 

So when asked what one piece of advice ... what one action ... will reap the best results for the greatest number of home buyers/borrowers, I offer:

"Don't wait until you're ready to view homes. Seek the advice and assistance of the most experienced Loan Officer you can find ... as early in the process as possible."
 
I can't stress this advice enough ...  
 
The more time allowed for preparation, the better.  The results of this one action can be amazing.
 
I'm not saying that conducting an individual and personal search for information and performing your own preliminary homework isn't important.  It is.  The more you know, the better.
 
So consider conducting some of the following searches (and a few of your own) for info and guidance:

  • Don't know where to start your home buying and financing journey? Who helps you during your journey to home ownership?  Click here for that info ... or here for an easily-followed infographic. 
     Misconception:  Help is hard to find.  Not true!
  • Need help choosing your Mortgage Originator?  Click here to see what Originator attributes will serve your needs best. Click here for even more guidance ...
     Misconception:  All Lenders (and Originators) are created equal.  Not True!  Great differences in mortgage programs offered, education, experience, expertise, and ability exist!
  • Unsure how a Lender uses your credit history and scores to determine a mortgage approval?  Click here for an article that explains this process.
     Misconception:  I need great credit to buy a home.  Definitely not true!
  • Unfamiliar with what mortgage programs may be available to you?  What down payment you'll need to qualify for those programs?  Click here for the basic information you'll need.
     Misconception:  You need a 20% down payment to buy and finance a home.  Completely untrue!  No-and-Low down payment financing options exist and can help you buy!
  • Are you a Veteran in search of financing?  Click here for valuable information.
     Misconception:  Veterans can use their VA benefit only one time.  (And many other myths) NOT TRUE!
  • Is Private Mortgage Insurance a possibility?  Click here for some valuable facts that will help you decide or prepare. 
     Misconception:  Using Private Mortgage Insurance to finance a home is never a good idea.  Certainly not true! 
  • Want to get a head start on gathering the documentation needed for your Mortgage Application?  Click here for a list of those documents typically requested by Lenders.
     Misconception:  Mortgage Application is hard because you need so many documents.  Not True.  With a little preparation and planning, it can be done quickly and easily.
  • Are you a First-Time Home Buyer considering the purchase of a Condominium or Townhome?  Click here for the important info you must have.
     Misconception:  You can always tell the difference between a Condo and Townhome just by looking at them.  Not True ... and working with an experienced knowledgeable agent and Originator can make the difference between a successful purchase and failure! 
  • Dreaming of buying a new construction home?  Click here to find out what possibilities exist.
       Misconception:  Buying a new construction home is the same as buying an existing home?  Not true ... important differences exist and knowing those differences is very beneficial. 
  • Already a home buyer, but want to buy and finance again (or refinance)?  Click here for the info you'll need to get started. 
      Misconception:  Once you've been approved for a            mortgage, you don't need to apply or be approved for a new mortgage when purchasing again in the future.  Not true! 
  • Considering an Investment Property purchase?  Click here for some valuable info that will help you get started.
     Misconception:  You need a huge down payment to buy an Investment Property.  Not True ... options exist with only 15% down!

You'll know much after reading the info offered above.  But it bears repeating ...

While conducting research and homework on your own is important, the high value of seeking and working with the best source available for credible reliable financing information... a Mortgage Originator ... can't be overstated.  

A Mortgage Originator will assist you in determining what is fact versus what is fiction regarding YOUR personal financial scenario.  They will remove any misconceptions you may hold regarding YOUR personal prospects and options for successful financing. 

The mortgage process is increasingly personal to your specific credit standing and finances and the specific home you wish to buy/finance.  (Click here for more info).  And comparisons to another's home buying and mortgage or application experience should be avoided at all costs.

Why?

Too often misconceptions formed and erroneously held "facts" scare people away from home buying and financing.  Or they elevate the stress levels of those applying for a mortgage.  

The misconceptions and source(s) of stress and fear are easily addressed by reaching out to an experienced knowledgeable mortgage professional.  Whether it's credit or monetary in nature, actions and improvements made under the guidance of your Mortgage Originator can eliminate many of the challenges others face during mortgage underwriting.  That, in turn, lowers the stress you may feel when seeking mortgage approval.  

Why stress over things that are not true or may never occur during your financing?   

Battle these and other misconceptions.  Get the facts.  If buying, refinancing or buying an investment property in New Lenox - Will County - Chicagoland/IL - WI, talk to me and ask your questions right away.  As soon as you decide to buy.

By taking this one simple action, you can erase any misconceptions held and gain the information you need to prepare for and navigate your mortgage process as smoothly, easily, and quickly as possible.  

 
 
 
I'll put my 40+ years of Mortgage experience and expertise hard to work on your behalf. 
I'm easily found at:

 
Gene Mundt
Mortgage Originator 
NMLS #216987 - IL Lic. 031.0006220 - WI Licensed #216987 
 
American Portfolio Mortgage Corp.
NMLS #175656
 
 
Direct: 815.524.2280
Cell or Text: 708.921.6331
eFax: 815.524.2281
 
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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 3 times:

Re-Blogged By Re-Blogged At
  1. Fred Griffin presently on Leave of Absence 11/19/2018 11:35 AM
  2. Debra Leisek 11/20/2018 12:41 AM
  3. M.C. Dwyer 11/20/2018 07:33 AM
Topic:
Home Buying
Location:
Illinois Will County New Lenox
Groups:
Mortgages
Home & Credit Savvy
1st Time Buyers
Buyer Information - What Buyers Need to Know in Today's Market
Bananatude
Tags:
mortgages
home buying
mortgage advice
lender search
lenders
mortgage misconceptions
mortgage originatorsn
mortgage information searches
new lenox chicagoland mortgage lenders
financing facts

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Rainmaker
1,515,420
Amanda S. Davidson
Amanda Davidson Real Estate Group Brokered By eXp Realty - Ashburn, VA
Alexandria Virginia Homes For Sale

Gene, you outdid yourself on this post. It's perfection. Every home buyer should read it - even if they're just starting considering to buy. Their next step after reading it is to call you. You will be able to answer all of their questions and guide them through the financing process. 

Nov 20, 2018 05:08 AM #19
Rainer
130,995
Anne Corbin
Long and Foster - Lake Anna - Spotsylvania, VA
Serving Lake Anna & Central Virginia

Thanks for educating us this morning. It's great information for potential home buyers.

Nov 20, 2018 05:56 AM #20
Rainmaker
85,221
Pat Braithwaite
Braithwaite Realty - Marietta, GA
E-Pro

Gene, We are grateful for such great Mortgage experts ready to help the Buyers get out of the maze and into their home!  Thank you. 

Nov 20, 2018 06:52 AM #21
Rainmaker
380,971
Rosalind Nicholas
RE/MAX Condos Plus Corporation, Brokerage - Toronto, ON
Toronto Condo Real Estate Agent, Toronto ON

Great post with great information, and yes, you are right, it is worth repeating.  In my market it has become very difficult for first-time buyers to get a mortgage.

Nov 20, 2018 07:02 AM #22
Rainmaker
3,523,578
Sheila Anderson
Referral Group Incorporated - East Brunswick, NJ
The Real Estate Whisperer Who Listens 732-715-1133

Good morning Gene. This is focused, specific, and well presented too. Should be a handout.

Nov 20, 2018 07:09 AM #23
Rainmaker
367,506
M.C. Dwyer
Century 21 Showcase REALTORs - Felton, CA
Santa Cruz Mountains Property Specialist

What an amazingly resourceful post Gene Mundt, IL/WI Mortgage Originator - FHA/VA/Conv/Jumbo/Portfolio/Refi .    Thank you for making it sharable - reblogging with gratitude - Happy Thanksgiving!

Nov 20, 2018 07:30 AM #24
Rainmaker
2,424,404
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

No need to ask "contact me" at the end of your posting. One is compelled and grateful to find such a sourcing that making contact begs the common sense

Nov 20, 2018 08:11 AM #25
Rainmaker
966,685
Jan Green
Value Added Service, 602-620-2699 - Scottsdale, AZ
HomeSmart Elite Group, REALTOR®, EcoBroker, GREEN

Excellent post Gene.  And I love the click through to your blog wherein you describe how the mortgage process is so personal. So very true. I have a buyer right now that I'm coaching to get ready to call my lender here in AZ. She keeps asking me questions she should be asking the lender.  I never want to offend so I keep nudging her and giving general answers and then referring her to him so he can advise her.  Guiding a client to a lender can be a touchy process as we have to be strict enough to say that we can't help them in Arizona until they are pre-approved, not just pre-qualified, but also compasssionate to their situation.  

Nov 20, 2018 08:28 AM #26
Rainmaker
1,060,280
Margaret Goss
Baird & Warner Real Estate - Winnetka, IL
Chicago's North Shore & Winnetka Real Estate

This message bears saving to show to future buyers!  I think you've covered everything to help buyers become savvy in the mortgage process. 

Nov 20, 2018 10:20 AM #27
Rainmaker
442,931
Diana Dahlberg
1 Month Realty - Pleasant Prairie, WI
Real Estate in Kenosha, WI since 1994 262-308-3563

A long but resourceful blog that I will be resharing with some of my clients.  Great information!

Happy Thanksgiving Gene Mundt, IL/WI Mortgage Originator - FHA/VA/Conv/Jumbo/Portfolio/Refi 

Nov 20, 2018 12:11 PM #28
Ambassador
3,775,840
Kathy Streib
Room Service Home Staging - Delray Beach, FL
Home Stager - Palm Beach County,FL -561-914-6224

Gene- this is excellent information!  Buying a home and getting a mortgage can be scary for anyone. The first thing someone needs to do is talk to someone like you and get the facts!

Nov 20, 2018 12:17 PM #29
Rainmaker
452,897
Michael Eisenberg
eXp Realty - Bellingham, WA
Bellingham Real Estate Guy

Great read Gene, I always tell my potential buyers to cotact a lender, to get pre-approved and find out what they can afford.

Nov 20, 2018 03:18 PM #30
Rainmaker
496,921
Mary Hutchison, SRES, ABR
Better Homes and Gardens Real Estate-Kansas City Homes - Kansas City, MO
Experienced Agent in Kansas City Metro area

Agreed. When a possibly buyer contacts me and already has the mortgage lender lined up and pre approval letter--it tells me a lot about that buyer and how prepared/serious they are about the purchase.

Nov 20, 2018 08:09 PM #31
Rainmaker
1,487,730
Beth Atalay
Cam Realty and Property Management - Clermont, FL
Cam Realty of Clermont FL

This is an excellent post Gene Mundt, IL/WI Mortgage Originator - FHA/VA/Conv/Jumbo/Portfolio/Refi. I just had a closing where the buyer was working with his mortgage broker for two years to get to where he was able to buy a home. 

Nov 21, 2018 06:03 AM #32
Rainmaker
2,942,272
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of Manchester NH's Leading Agents

What a wonderful blog Gene Mundt, IL/WI Mortgage Originator - FHA/VA/Conv/Jumbo/Portfolio/Refi . Having a well prepared blog and having a loan officer who explains things are a must for the journey to go well

Nov 21, 2018 06:17 AM #33
Rainmaker
3,067,162
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

What a great blog for us here in the rain.  Thanks for sharing with us

Nov 21, 2018 08:59 AM #34
Rainmaker
784,679
Kevin Mackessy
Blue Olive Properties, LLC - Highlands Ranch, CO
Dedicated. Qualified. Local.

Came for the pun, stayed for the highly informational post, one worthy of passing on to those in need of the information it holds.  

Nov 21, 2018 02:24 PM #35
Rainmaker
3,188,377
Sally K. & David L. Hanson
EXP Realty 414-525-0563 - Brookfield, WI
WI Realtors - Luxury - Divorce

It absolutely does....and having a trustworthy lender to guide you thru the process is a wonderful thing as people who call Gene Mundt, IL/WI Mortgage Originator - FHA/VA/Conv/Jumbo/Portfolio/Refi  will discover !

Nov 23, 2018 03:36 AM #36
Rainmaker
11,943
Nestor Gasset
International Properties and Investments LLC - Wellington, FL
Wellington Luxury homes & Equestrian Expert

Great information! Thank you for sharing with us.  It's important to have a good loan officer. 

Nov 26, 2018 05:59 PM #37
Rainmaker
1,460,608
Georgie Hunter R(S) 58089
Hawai'i Life Real Estate Brokers - Haiku, HI
Maui Real Estate sales and lifestyle info

That's a lot of good basic info for anyone looking for a mortgage.  I'm pleased to say we just paid our mortgage off!!

Dec 11, 2018 01:39 AM #38
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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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