Adopt a Winning Mindset If Preparing for Mortgage Financing

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/5mY7

 

 

Adopt a Winning Mindset

If Preparing for Mortgage Financing

 

 

Springtime means just one thing to countless millions of people like myself ... The Masters Golf Tournament ...

 

The delay of this year's 2020 tournament left golf fans with a void to fill until fall. 

  

But thankfully, last year's Master's final round was recently replayed to help fans relieve some of the "pain" we are feeling until that time.

 

CBS announcer, Jim Nantz held a running interview with the winner of last year's tournament, Tiger Woods, throughout the replay airing.  The additional insights he provided throughout the airing were extremely interesting and it made the golf tournament even more fun to watch.

 

One comment in particular made by Tiger Woods during this show stood out to me.  He spoke of the preparation, both mental and physical, that he made prior to the tournament ... and makes prior to every tournament.

 

Some of his preparations are so religiously performed and are so ingrained in him that they are now done almost automatically and without conscious thought.  His body and mind just automatically react and "kick into gear".

 

I've heard or read about other professionals expressing much the same.  Certainly, pro athletes such as Michael Jordan, Serena Willians, Usain Bolt, and Duncan Keith ... each outstanding in their chosen sport ... are all known for their extreme workouts and pre-season and pre-contest preparations.

 

And professional athletes are not alone in this mindset and dedication to preparation.  Professionals of all kinds do much the same.  It's ingrained and part of who they are.

 

It's just a fact.  Whether musician, entertainer, surgeon, or businessperson, etc., preparation and the right attitude are paramount to finding success.

 

Yet sadly, the following statistics and info are reported: 

 

  • 64% of consumers lack knowledge when it comes to what they need to qualify to buy a home
  • Fewer than 1 in 4 consumers are aware that low down payment programs exist
  • Only 17% of consumers know the correct minimum down payment
  • A third of consumers surveyed thought credit scores needed to be higher than the FHA minimums
  • More consumers reported having seen their credit score recently, but close to half could not recall what it was

 

This is not the first time I've written of the importance and need for education and preparation when considering a mortgage to buy a home.  It's a topic I've felt so important that I continue to hammer away at it consistently.

 

 

So with that in mind   ...

 

  1. What is some of the info you should know and have at your disposal prior to applying for a mortgage?  
  2. What preparations should you make?

 

Consumers should know and be familiar with the following topics in order to secure the best financing for their needs:

 

 

Being ill-prepared for and poorly-informed about the mortgage process will, at a minimum, make the process more challenging and stressful.  It will also increase the likelihood of it costing more.  No one wants that.

The decision to prepare or not prepare ... remains the responsibility of the borrower.  No one can prepare for them, just as no one else can prepare for any professional pursuing their goals. 

 

Anyone hoping to finance a home should adopt this proactive mindset as they consider the purchase of a home. 

 

I'm more than happy to assist any borrower in pursuing the knowledge they need to buy, finance, or refinance a home.  Should you be considering the financing of a Chicagoland - IL - WI home or investment property, feel free to reach out to me today ... 

 


 

 
Gene Mundt
 
Mortgage Originator - NMLS #216987 - IL Lic. 031.0006220 - WI License #216987
 
 
American Portfolio Mortgage Corp.
NMLS #175656
  
 
Direct: 815.524.2280
Cell: 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! 

 

 

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Re-Blogged 2 times:

Re-Blogged By Re-Blogged At
  1. Brian England 04/17/2020 05:54 PM
  2. Roy Kelley 05/23/2020 09:58 AM
Topic:
Lending / Financial
Location:
Illinois Will County New Lenox
Groups:
Mortgages
1st Time Buyers
Chicagoland and Northern Illinois Real Estate
Bananatude
WillCounty
Tags:
prequalification
home buying tips
mortgage application
mortgage information
mortgage process
real estate
financing a home
education to buy a home
talk to a lender
preparation to buy a home
preparation to finance

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Rainmaker
4,822,924
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Gene,

This as usual is a wonderfully informative post for those preparing to buy a home.  We have a client who own a non-profit golf tournament, The Legends, in Pebble Beach which is played every November on all three courses.    He has been a guest at Augusta many times, and was friends with Arnold Palmer. He will also be hosting a Dom Perignon Golf event this fall.  Wishing you a delightfful weekend.  A

Apr 17, 2020 10:31 AM #1
Rainmaker
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Nina Hollander
Coldwell Banker Realty - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Wonderful post, Gene... then again, all your posts are so. With all the information out there these days I'm astounded at how many people know so little about the borrowing process for a home purchase.

Apr 17, 2020 10:37 AM #2
Rainmaker
914,366
Nick Vandekar, 610-203-4543
Long & Foster Real Estate Inc 610-225-7400 - Devon, PA
Tredyffrin Easttown Realtor, Philly Main Line

This is something that home buyers need to study and prepare for and know that it will take some effort on their part to obtain, however good their credit score is, they will have some work preparing paperwork and supplying documents. It doesn't happen just like that.

Apr 17, 2020 01:49 PM #3
Rainmaker
2,884,452
Brian England
Arizona Focus Realty - Gilbert, AZ
MBA, GRI, REALTOR® Real Estate in East Valley AZ

The Masters is one of the finest tournaments to watch and it will be weird not seeing it played until later in the year.

Apr 17, 2020 05:46 PM #4
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Tammy Lankford,
Lane Realty Eatonton, GA Lake Sinclair, Milledgeville, 706-485-9668 - Eatonton, GA
Broker GA Lake Sinclair/Eatonton/Milledgeville

Today I got an amazing text from a buyer I've been working with... it said "our favorite loan guy isn't licensed in GA, who do you recommend?"  It's always a pleasure when someone isn't in that 64% who don't know what it takes.  

The delay of the masters was tough on my market financially.  We have about 400 very pricy short term rentals locally that week as we're pretty close to Augusta and MANY people go to a hotel and rent their homes that week.  It won't be the same not in April.  Here's to hoping next year is better.

Apr 17, 2020 10:03 PM #5
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Debb Janes EcoBroker and Bernie Stea JD
ViewHomes of Clark County - Nature As Neighbors - Camas, WA
REALTORS® in Clark County, WA

I know many sports fans are missing the usual games and tournements this year. Fortunately, they will be back. As for the buying process, it amazes me that most folks still don't understand the importance of meeting with a lender prior to beginning a home search. 

Apr 18, 2020 07:20 AM #6
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George Souto
George Souto NMLS #65149 FHA, CHFA, VA Mortgages - Middletown, CT
Your Connecticut Mortgage Expert

Gene it is amazing that most people are less prepared for purchasing a home then they are for purchasing a computer, cell phone, or TV set.  Those purchase pale in costs to a home, yet the amount of research people do when purchasing them is far more than what they do when making the largest purchase of their life.

Apr 18, 2020 01:09 PM #7
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Kathy Streib
Room Service Home Staging - Delray Beach, FL
Home Stager - Palm Beach County,FL -561-914-6224

Gene- there are many who have no idea what they will need to do to obtain a mortgage. They need to work with someone wise like you and the other lenders here. 

Apr 18, 2020 03:45 PM #8
Rainmaker
3,341,640
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Gene, it is not easy, we just had the buyer sign the loan docs and it is still not done.... the Lender has to give the green light to fund and close, you know they are doing a final check, Endre

Apr 24, 2020 09:50 PM #9
Rainmaker
2,847,452
Laura Cerrano
Feng Shui Manhattan Long Island - Locust Valley, NY
Certified Feng Shui Expert, Speaker & Researcher

I think we can win if we can make it through this because you can make it through anything after this, right?

May 06, 2020 10:05 PM #10
Rainmaker
2,847,452
Laura Cerrano
Feng Shui Manhattan Long Island - Locust Valley, NY
Certified Feng Shui Expert, Speaker & Researcher

There’s a kind of a nice little sweet spot between frugality and abundance sometimes.

May 09, 2020 11:20 PM #11
Rainmaker
5,774,724
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

Thank you very much, Gene, for sharing your experience and your advice.

May 22, 2020 08:47 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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