How Is the Mortgage Process Like
and Different From a Roller Coaster?
Going through today's Mortgage Process can be much like being on a racing roller coaster. The similarities and parallels between the two are endless.
At times, each has uphill climbs that seem incredibly slow. Still at others, both can seem white-knuckle fast. And to an extent, the entire experience ... the success and enjoyment of both roller coaster ride and Mortgage Process ... are determined by the choices of the individual entering it.
How's That? It's wise to listen to your Mortgage Lender, just as you listen to those running the roller coaster ride. Not heed the advice or follow the instructions provided upon entrance, and there will be consequences.
There are great differences that exist too ...
Roller coasters have a set course that is followed each and every ride. The same path, the same turns ... each taken at the very same point in the ride ... all performed at the same prescribed speed.
And then there's the modern Mortgage Process ...
Although there are requirements, documentation, questions, etc. that remain much the same (no matter the Borrower, no matter the Lender), each and every transaction has elements dictated by unique variables. Variables that are personal only to the Borrower and make their process one-of-a-kind.
What are some of those variables?
- The property being purchased (or refinanced)
- The Mortgage Program
- Property Taxes
- Income
- Credit/Credit Scores/Credit History
- Debts
- HOA Fees
- Municipality Fees, Stamps, etc.
- Lenders/LO's
- Much More
I've made the analogy before. Today's Mortgage Process is exactly like a fingerprint or snowflake. It's totally unique and belongs only to the individual Mortgage Applicant(s) involved.
Because of this uniqueness, I advise my hopeful Buyers turn a "deaf ear" to the tales and experiences of others that have navigated a Mortgage Process. No matter how similar the circumstances or transactions may seem on the surface, you cannot compare them. Even seemingly minute differences can make a huge impact ... and change the outcome.
No, YOUR Mortgage Process will be yours and yours alone. The path, the speed, the twists and turns, the hills climbed, even the price of the "ticket" for your Mortgage Process ride ... your entire experience will be completely personal and unique to you.
Your goal as a Buyer/Borrower should be: Choose your Mortgage Lender wisely. This will help you navigate and experience a "ride" that's safe, swift, and thrilling. One that will leave you smiling at the Closing Table and enjoying your successfully-financed new home ...
* Make your Mortgage Process and Chicagoland home buying experience successful and enjoyable. Contact Me Today! I'll put my 37 years of Mortgage experience and expertise hard to work on your behalf.
I can be easily found at:
Direct: 815.524.2280
Cell/Text: 708.921.6331
eFax: 815.524.2281
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!
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