Skip to main content

Mortgages: The Importance of Response Time

Mortgages: The Importance of Response Time 

     I have clients that are in the midst of their mortgage process.  I've been trying to get ahold of them for days, but haven't had much luck.

     Early yesterday, I'd contacted them yet again, this time letting them know that the interest rate they'd hoped to secure was now available.  

     I felt we had to act fast.  Government reports from last Friday have interest rates experiencing mood swings.    

     I heard nothing back throughout the day.  So when I saw a text from them finally roll-in late last night, I was a bit frustrated.  Even more so when I read their message.  

     They'd been online and had seen a low interest rate posted on another lender's website.  The mortgage program attached to the interest rate they'd seen will not fit their needs.  And their financial scenario won't allow for use of it either.  Time had been wasted.

     Unfortunately, interest rates don't stick around long.  They can tick up and tick down quickly.  Buyers that are marginally "approvable" can be especially sensitive to these rate movements.

     Think about it this way ...

     You've headed out with a "to do" list of errands.  One chore is you need gas.  You decide to do that last on the way home. 

     You drive by the gas station on your way to the store noting the price of gas.  You return to the pumps minutes later only to find the price has jumped during that short period of time.  Frustrating, to say the least.

     Note:  Interest rates can change that quickly too ... 

     There's a whole lot of attention given to the importance of "response time" as it pertains to professionals and service.  Home Buyers need to understand that their response time is important too.  That the time they take to respond to communications and requests can play a huge part in the success they find.

     Time will tell if my clients are able to secure and lock-in the advantageous interest rate available to them yesterday. I'm hoping so ...

     *  Looking to Buy, Build, or Refinance a home in New Lenox, Will County, or the greater Chicagoland area?  Contact me today!  I'll put my 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


  Twitter Account of Gene Mundt, Mortgage Lender   LinkedIn Account of Gene Mundt, Mortgage Lender   Facebook Acct. of Gene Mundt, Mortgage Lender   Pinterest Acct. of Gene Mundt, Mortgage Lender   
 Trulia Acct. of Gene Mundt, Mortgage Lender   Zillow Acct. of Gene Mundt, Mortgage Lender        Gene's Chicagoland Blog/Gene Mundt, Mortgage Lender 

Gene Mundt, Mortgage Lender, a Lender with 37 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!


Popular posts from this blog

Property Addresses: Gettin' Down to the Nitty Gritty

Property Addresses:   Gettin' Down to the Nitty Gritty

Take just a second and read through the following statements ...

“The devil is in the details” 
... "in life, it is often the tiny details that end up 
being the most important"

"Get Down To The Nitty Gritty"

“Little details have special talents in 
creating big problems!” 

“Sweat the details”

"Success is the sum of details"

Details ...Details ... it's all about the details ...
     And I'll admit it, I'm a bit of a nerd about them.  My whole family is.  Details, the intricacies, the little things ... they matter to us.
When I was growing up, a typical conversation (and argument) between my brothers and myself at the dinner table or in the backyard centered around "details".  It didn't matter what the topic was, it was the minor differences ... the details about the topic ... that we argued about.  I'm sure we drove our parents crazy.  
Sports statistics and games ... minutiae rega…

Ready for Fall? It's Arriving Soon

Ready for Fall?  It's Arriving Soon

Friend ...

Maybe it's because football season has started. Maybe it's the kids being back in school. Or because the night air is cooler. But a sense of Fall has arrived here in Chicagoland ...

The Fall Season brings changes with it. Changes in temperatures. Changes to the clothing we wear. Our focus seems to shift with the coming of shorter days, falling leaves, and crisp air.

Fall can be the perfect time to do a multitude of things. You can prep your home for the upcoming winter weather ... or for Fall listing and sale. 

But whether you're moving on or staying put, Fall is a great time to declutter and organize your home inside and out ... and your finances too.

I've googled like crazy to find interesting articles filled with Fall info, ideas, tips, and photos. Articles that will help you usher the Fall Season in at your house. I hope you enjoy reading the articles offered below and that they inspire you to make any needed changes.


Paper or Paperless billing? Which serves YOUR needs best?

Paper or Paperless billing?  Which serves YOUR needs best?

These days, companies are under pressure to go "green" and become more environmentally friendly.  As a result, an increasing number of businesses are offering their customers a paperless option with which to receive and pay their bills. 

There are obviously many positives to be found within these paperless services:

Trees are saved  Reduced postage costs  Less paper documentation to organize or save/storePossible rewards for switching to paperlessPayments can often be made/posted same-dayAutomated payments can be set-upMore
But I can tell you from my vantage point as a Chicagoland/IL/WI Mortgage Originator, there are also negatives to be found within paperless methods.  For some of my mortgage clients, the choice of going "paperless" just hasn't worked well.

 For some, an email or text reminder regarding payment of bills has not been enough. They NEED a paper billing to arrive in their mail. 

Their paper bil…