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Showing posts from July, 2014

Prepare Your Credit & Finances for the Upcoming Holidays Now!

Prepare Your Credit & Finances  for the Upcoming Holidays Now!

I know.  I know ...  

The Holidaysare still months away.  And I've touched-upon this topic  before ... 

But increasingly, people are planning for the Holidays and beginning to shop for the Holidays earlier and earlier in the year.  

So I'm thinking NOW ... is the perfect time to make plans regarding your budget, credit/credit cards, and finances for this year's Holiday celebrations and expenditures.
Anticipating and planning for this year's Holiday activities and gift-giving demands is a great place to start.  Start by compiling a list that includes: A Budget:  What is the total dollar figure you have to work with?Names:  Who will you want/need to buy gifts for?A Breakdown:  How much of that allotted budget will you spend on each individual gift recipient?Gift Ideas:  What ideas fit the planned expenditure for each gift recipient? Then plan how and where you can shop wisely and stick to your Holiday Budget ...…

The ABC's of DTI's (Debt-to-Income Ratios):

The ABC's of DTI's  (Debt-to-Income Ratios):

Definition of Debt-to-Income Ratio:  The figure that represents how much of your income is spent repaying your recurring monthly debts.  The HIGHER your Debt-to-Income Ratio is, the more of your monthly income is being devoted to paying back your debts. 
Formula Used to Find Your Debt-to-Income Ratio:  Monthly debts owed divided by gross monthly income.This includes utilizing ALL Recurring Monthly Debt VS Gross Monthly Income, as determined ultimately by an Underwriter at Final Approval. 
Those clients I speak to regarding Mortgage Pre-Qualifications and Mortgage Applications typically are hyper-focused on 2 factors involved in their Mortgage  financing:  The Downpayment they need to make ... and their Credit Scores and Credit Report
While those factors are definitely important, there are two additional factors that I often see overlooked.  Those are:
Debt-to-Income Ratio Property Taxes  My findings are backed-up by those in a new sur…

Real Estate, Mortgage, & Credit News ... July 19, 2014

July 19, 2014

Here's this week's news, info, and timely articles I thought you'd find of interest and use. 
Should you have specific topics or questions ... and like them covered and addressed in one of my future blasts, please let me know.  Your suggestions and input are always welcomed!

How to Create Outdoor Living Rooms ...
With 4 distinct seasons here in the Midwest, we face a different set of needs when it comes to designing and decorating outdoor living spaces.  
Here's some ideas and inspiration for an outdoor living space from 2 Midwestern homeowners .. one located in Columbus, OH, the other in Chicago.  (MORE ...)

10 Uses for Coffee Grounds ...
Stash the leftovers from your morning pot of joe for these clever household uses ... (MORE ...)

This next article should be of equal interest to those looking to improve the feel and decor of their home ... and those hoping to improve the "sale-ability" of their home prior to placing it on the market ...  

Paint Colou…

New Chicago-Area/IL Small Apartment Loan Program Available

New Chicago-Area/IL Small Apartment Loan Program Available

New options exist for those hoping to finance small residential apartment buildings (5 to 20-unit properties) in the Chicagoland/IL area.  (NO mixed-use properties allowed)

This new Small Apartment Loan Program is a great opportunity for EXPERIENCED investors to finance properties for purchase ... and Refinance their existing 5 to 20-unit properties also.  The guidelines are generous.

If interested in learning more about this "Small Apartment Loan Program" and how it can benefit you or your clients, please contact me,Gene Mundt, Mortgage Lender immediately.

I look forward to hearing from you and assisting you soon!

Gene Mundt, Mortgage Lender NMLS #216987

My Best Influences ...

My Best Influences ...When seeing Dennis Burgess' AR Contest announcement about the "Under The Influence(s)- an ActiveRain Contest", I knew it was one I needed to take part in.  Can you ever say "thank you" enough to those that shaped your life? I'm going to begin exactly where I should ...  with my Mom and Dad.  Although a unit in every way, I'm going to list them as individual influences.  Each taught me many special and unique things.#1:  I'm lucky enough to still have my Mom, Ruth, with me and living close by in Manhattan.  I'm still learning from her.  She's the epitome of kindness, grace, generosity, and gentility.  She seeks the positive in everyone and every situation.  Mom never says an unkind word about anyone.  Not an easy thing to carry off in today's world and I admire her greatly for it.#2: My Dad, Ken, passed a while ago, but he's my "bar" test for every action I take.  I can't tell you the number of peopl…