Your Mortgage Menu:
Your Financial Health Dictates
What Choices You Have
What Choices You Have
A while back, I wrote a post regarding the possible re-emergence of smaller down payment/Mortgage Insurance-related mortgage products and their once again becoming an option for home buyers.
As I thought it would, it opened up some discussion about small down payment requirements and the wisdom of exercising them. Personally, I feel this option is much like any other financing option. It's an option open for exploration.
I believe the final decision regarding its use should be ... and will be dictated by the individual home buyer's personal financial scenario. Simply, do they qualify? And if qualified ... is the program the right fit for their needs?
Obviously, much must be weighed in each individual case to arrive at that answer. In doing so, I view the mortgage programs I offer as somewhat of a "restaurant menu". And sometimes my mortgage menu's options rotate.
Much like the menus found in restaurants, items being offered on my mortgage menu can disappear and then re-appear at later times. Think McRib Sandwich or Shamrock Shake at McDonalds. How many times has each been offered for a period of time, only to disappear once more?
Also consider this ... How do you choose your meal in a restaurant?
The final choice of meal is based on taste, yes ... but health concerns often enter into your decision-making process as well. If you're following a low-sodium diet, certain items on a restaurant menu will be ruled out.
Same thing goes for other health concerns. Diabetes will have you avoiding some menu items, just as concerns surrounding high-cholesterol will have you ruling out others.
Your financial health concerns will dictate the elimination of certain choices on my mortgage menu also. Low credit scores/no credit scores, small down payment saved, high debt level, and more ... having them in play within your finances can greatly reduce the number of mortgage options available to you.
As I see it, when working with you, my client, as your Mortgage Originator, it's my job to find out as much as I can about your financial health and financial capabilities.
After accomplishing that, together you and I must find the mortgage financing options on my menu of mortgage programs that are a viable match for you while being the best choice for your needs.
And just as with restaurant menus, that can mean overlooking the short-term, tastier gratification ... for the more long-term, wise, and health-conscience choice. Again, helping you to find and then guiding you through that more wise choice is my job. For me, this just proves that choosing the "restaurant" (Mortgage Originator), is a crucial decision within this scenario.
Consider this: The CHOICE of food certainly differs with the "restaurant" chosen.
The QUALITY of food offered will also differ, as will the NUMBER OF OPTIONS on the menus ... not to mention the TIME and amount of PREPARATION devoted along the way to delivering a good meal.
It's much the same with Mortgage Originators. Devoting time and attention to choosing the right one is very important.
The choice of "menu" items certainly depends upon it too. As does the quality of those items and the time and presentation they are delivered with.
Only time and intense examination will tell if any mortgage option is the right option for you to utilize when financing your home purchase or refinance ...
* Work with a Mortgage Originator that offers a full menu of mortgage options ... and one that will take the time to explore all the financial options available to you. Contact me today and I'll put my 40 years of mortgage lending expertise and experience to work on your behalf.
I can be easily found at:
Mortgage Originator - NMLS #216987 - IL Lic. #031.0006220 - WI Licensed
Gene Mundt, Mortgage Originator, a Lender with 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, etc.), DuPage County, the City of Chicago, Cook County, and elsewhere within IL & WI.
Your Referrals are Greatly Appreciated!