Low Interest Rates and Lower Will County and Chicagoland Housing Prices.
Ask What They Really Translate to
For You in Dollars and Cents
There are many great things about being a Mortgage Lender. I can tell you, it sure makes you feel good when you know your efforts contributed to someone's happiness and success.
I've been working in the mortgage industry for a long time now. Around 37 years. And during those years I've seen alot. When I started in the business back in 1977, the interest rate for Conventional Loans was hovering in the low 6%'s. During the crazy see-saw 80's, those rates jumped up into the 18%'s.
Back when I started my career, especially in smaller towns, training to be a mortgage lender meant you learned the mortgage and banking business from the ground up. And I DO mean the ground up.
I first trained as a teller, then moved into the accounting department, then got my appraisal license. All while attending mortgage furthering education classes and working as a lender too. If you ask long term residents and business owners in Mokena and New Lenox, (both towns where our S&L had branches) they'll probably tell you they remember me changing light bulbs ... up on a roof checking for leaks or ice build-up ... changing letters on the company's street sign or a host of other things. Ahhhh, the good ol' days ...
During that time, I also got married, had 2 kids, coached sports teams, served as Chamber president and served on the local village board. I bought/built homes, downsized, then bought again. So I've been involved in real estate from a personal angle too.
So what's this all have to do with you? How does all this relate to current credit, mortgages, and housing?
All the ups, downs, stresses, and apprehension connected to owning a home and real estate during those years? I look back on it now and think ... wow. If I'd only had an interest rate of around 4% while expecting and raising 2 babies.
If only I'd had the combination of an unbelievably low interest rate, lower housing prices, and 15 year mortgage term as a viable option when putting 2 kids through college. What a difference that could have made. To me, our family, our family's finances!
THAT is the message I sure wish I could get through to potential Home Buyers right now. Just what an unbelievable benefit these current favorable housing and financing conditions can translate into. On so many levels!
So, let me ask this. Do you EVER hope to buy a home?
If your answer is yes ... if you have that goal in mind, you need to do yourself a favor right now. A huge favor. Take action. At minimum, talk to a Mortgage Lender. It will cost you nothing to talk ... to ask your questions. It's FREE.
And when you're talking to your Lender, ask them to show you exactly ... in actual dollars and cents ... what even a small increase in interest rate can mean to your future monthly mortgage payments.
Ask your Lender how many thousands of dollars a small increase can add to the cost of your loan over the life of your mortgage. How it effects what price range of home you can buy. If it effects whether you can buy .. or when you can buy.
Then review the comparisons and ask yourself if you can afford to wait until home prices rise, mortgage costs rise, and interest rates go up. Can you hesitate? Take no action to prepare yourself to buy?
I'm betting that after you have seen and reviewed all the facts, you will better understand the message and the urgency I try to convey here. Fail to ask questions. Fail to discover your options. Fail to take action (even if it's just addressing credit improvement or repair) and you will find yourself wishing you had not failed at some point in the future.
Low Interest Rates and Lower Will County and Chicagoland Housing Prices. Ask What They Really Translate to For You in Dollar and Cents. Take action. Get the facts. Contact me today.
I can be easily found at:
Gene Mundt, Mortgage Lender, a Lender with 36 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, etc.), DuPage County, the City of Chicago, Cook County, and elsewhere within IL.
Referrals are Welcomed!