This Message is So Important, it Bears RepeatingHome 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:
Misconception: Help is hard to find. Not true!
- 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: All Lenders (and Originators) are created equal. Not True! Great differences in mortgage programs offered, education, experience, expertise, and ability exist!
- 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: I need great credit to buy a home. Definitely not true!
- 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: 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!
- 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: Veterans can use their VA benefit only one time. (And many other myths) NOT TRUE!
- Are you a Veteran in search of financing? Click here for valuable information.
Misconception: Using Private Mortgage Insurance to finance a home is never a good idea. Certainly not true!
- Is Private Mortgage Insurance a possibility? Click here for some valuable facts that will help you decide or prepare.
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.
- 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: 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!
- 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: 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.
- Dreaming of buying a new construction home? Click here to find out what possibilities exist.
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!
- 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: You need a huge down payment to buy an Investment Property. Not True ... options exist with only 15% down!
- Considering an Investment Property purchase? Click here for some valuable info that will help you get started.
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.
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:
Mortgage Originator - NMLS #216987
IL Lic. #031.0006220 - WI License #216987
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.
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