5 Quick, Simple Improvements for Your Home and Finances

                                                                                                                                                5/27/2015

Friend:

Now that warm weather has returned to the area, it's not uncommon to see friends and neighbors working outside in their yards ... or on home improvement projects.  Spring's a great time to roll-up sleeves and add some curb appeal and value to a home.  

It's also a great time to check your credit status and spruce-  up your finances. Both types of improvements are beneficial ... especially if hoping to sell your home  

and become a buyer again.   

Below, you'll find links to 5 timely articles (and a bonus article) that will help you accomplish a wide range of "improvements".  I hope you enjoy reading these articles, implementing the info found within them, and reap many benefits from tackling them.

Gene

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Prioritizing Home Repairs ...    Owning a home brings a lot of pleasure - and a lot of maintenance ....  But with a long to-do list and a short budget, how do you know which projects should get done first?  (MORE ...) Weed Identification Guide ... Don't let weeds rob your garden of its beauty. Use our guide to help you identify and control these troublesome pests. Click HERE for your guide! If You Want to Sell Your House This Year, Start Doing These Things Now ... With home prices recovering and interest rates still low, now may be the time to act. Here are 8 things successful sellers need to know.   (MORE ...) Tackle the Chaos: Here's How to Organize Your Garage ... If your house is bursting at the seams, with every cabinet and closet filled to the brim, the solution to your storage woes may be as close as your garage. To make the best use of this space, however, you first need to corral its current chaos. Fortunately, this is a relatively simple task if you incorporate a few good storage ideas. With careful planning and a little effort, you can transform your garage from a messy catchall to an efficient, well-organized household annex.   (MORE ...) Affordable Home Improvement Ideas ...    How to get the most value for your remodeling dollar:     The 10 projects here — decorating, storage, lighting and more—cost little but yield great results. They upgrade bathrooms, kitchens, living rooms, closets, the entryway, the laundry and other areas of your home.   (MORE ...) And a BONUS article ... You Decluttered Your Chicagoland Home.  What Now?? I'm just guessing, but I'm betting there are thousands of videos and articles about the importance of " decluttering" your home prior to putting it up for sale ...   Magazines, blogs, and social media are all filled with tips, suggestions, and ideas to help you accomplish this task. There are even handy checklists available to help you kick-start your decluttering.  (Click HERE for one of those checklists.) But after you've cleaned, winnowed-out, sorted, recycled, thrown-away, and decluttered your home's drawers, closets, garages, basement, and attic ... what in the world do you do with all that stuff?  How do you get rid of it all?  (MORE ...) I appreciate that you take the time to read my newsblasts.  Please feel free to pass them on to anyone you think would find them of interest and beneficial. If these articles have inspired questions regarding financial options for remodeling, refinancing capabilities, or selling and buying a new home ... contact me!   I'll help you discover the options available to you for the highest level of success. Gene Mundt Mortgage Lender  -  NMLS #216987  -  IL Lic. #0006220  -  WI License Direct:  815.524.2280 Cell/Text:  708.921.6331 eFax:  815.524.2281 gmundt@goapmc.com www.genemundt.com You're Invited to Follow my Mortgage Blog: Gene's Chicagoland Mortgage Blog

Top 4 Posts Regarding Down Payment Requirements

Top 4 Posts Regarding 

Down Payment Requirements    

      It happened again ...  

     "It" meaning a call from a hopeful home buyer thinking they needed a full 20% down payment to buy a home. 

     First, let me correct this home buying misconception ...

     You DO NOT have to have a 20% down payment to buy a home!  

     Multiple options exist that can help you become a home owner with a "minimal" down payment ... or with NO down payment, in certain cases.  

     I view this as a very important message and topic.  As a result, I've written on the topic of down payments more than a few times: 

• What are the Requirements to Qualify for a Home Loan Today?
• Downpayments: Sometimes It's Good to Find Out You're Wrong
• You Don't Need a 20% Down Payment to Buy!
• It's True! Programs DO Exist for Little or NO Money Down Financing

     The posts above provide info regarding down payments, but they also offer info on good options for home buyers that don't have the mythical 20% down payment figure.  

     

     

     The following information is FACT:
      
     Home buying can currently be accomplished with the following down payment options:

• NO Down Payment Loans  

      
      *  USDA Loans 
      *  VA Loans 
      *  Specific regional down payment assistance programs also exist

• 3% Down Payment financing options exist 

      * Conventional Loans - Fannie Mae's 3% Program offers Interest Rates and Mortgage Insurance premiums that are competitive to FHA's 

• 3.5% Down Payment Option

      *  FHA Loans (Federal Housing Administration) 

            

     Bottomline:  Should you be dreaming of buying a home, contact me to get the facts as they pertain to YOUR personal financial scenario.  

     Don't rely on info received via "the grapevine".  Don't rely on the media or dated internet info.  Don't let friends, family, and others influence you, talk you into non-action, or squash your dreams.  

     Contact me.  It's the only way to know for sure what is possible for you and what is not ... 

*  Hoping to Buy or Refinance a home in Chicagoland, IL, WI?  Contact me now!

Gene Mundt
Mortgage Originator  -  NMLS #216987  -  IL Lic. #031.0006220  -  WI Licensed

American Portfolio Mortgage Corp.

NMLS #175656

Direct:  815.524.2280

Cell/Text:  708.921.6331

eFax:  1.815.524.2281

gmundt@goapmc.com

www.genemundt.com

 

              

     

Gene Mundt, Mortgage Originator, an Originator 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 and Welcomed!

      

     

      

     

     

Positives Available For Borrowers Within Today's Mortgage Process

Positives Available For Borrowers 

Within Today's Mortgage Process 

     Scotsman Guide - May 4, 2015 

     “The data shows that 40 percent of the people getting loans now do not have pristine or perfect credit.”

               Edward Pinto, Co-Director - American Enterprise Institute’s International Center on Housing Risk  



     That's a pretty high percentage ...

     As a Mortgage Lender in the Chicagoland area, I'd agree with that statement too.  

     Few of the homebuyers I speak to have what could be categorized as "perfect" or "pristine" credit.  Many have financial scenarios that need to be addressed (or explained) at some point during mortgage processing.

     We LO's must pay far more attention to detail and must request more info/explanation regarding our clients' credit issues and financial scenarios than ever before.  

     Scrutiny is at a much higher level for every aspect of the loan.  On the clients.  And on the professionals too.  Scrutiny that was not seen during the early-to-mid-2000's housing boom.  

     But I believe it's a stretch to infer that this higher level of scrutiny always stands in the way of successful mortgage approval.  It doesn't.  

     So what is true?  

    A new reality now exists that must be acknowledged and dealt with by current hopeful borrowers (and their professionals): 

     The current mortgage application and mortgage processing is not simply or quickly navigated in many cases.  This FACT must be taken into consideration by all involved within a transaction.      

     Many things contribute to this new reality: 

• New rules and regulations put into place  
• Increased scrutiny of Underwriting and Underwriters
• Consumer Financial Protection Bureau oversight   
• The credit history of many current mortgage applicants include a Short Sale, Foreclosure, or Bankruptcy 
• Young, first-time homebuyers have avoided establishing credit or banking accounts 
• Many young, first-time homebuyers have paid their debts utilizing cash  
• Many young, first-time homebuyers buy their first home with a Co-signor or using Monetary Gifts
• More

     All the above can increase the number of contributing factors that LO's must consider, have explained and verified during mortgage application and processing.  Requests for documentation can rise as a result.  It all takes a toll on the amount of time needed for processing.

     It must be pointed out though:  Counter-balances  exist to the issues raised above.  Positives have occurred within the process that benefit Borrowers in many ways.  

     Some are:

• Mortgage information is much more easily attainable that ever before.  Many Lenders have websites that offer info and answer financing questions around-the-clock 
• Much of the communication and paperwork between borrower and lending professional can be conducted via the internet, texting, emails, web cams, secured e-fax  
• The need for face-to-face communications and hand-delivery is no longer a "must"  
• Mortgage Applications are routinely conducted at the convenience of the new Borrower.  Applications can be taken within a home, at work, via phone call, in a restaurant ... or even via the internet  
• Mortgage Closings are often possible during "odd" hours or at locations other than title companies, attorney, or lender offices.  I've successfully closed loans in Borrowers' homes
• Borrowers are no longer tied to what was considered the traditional 9 to 5 office hours of the past.  Many LO's (and real estate professionals) are available extended hours. During the day and weekends     

     

     Yes, it's true.  The mortgage process has changed. There's little doubt about that.  

     It's also true that some of the changes have made the process more challenging and frustrating.  

     But it's also true:  Changes have taken place that clearly benefit and increase the number of conveniences available to current borrowers.  

     Pair those positives with this fact:  Financing exists for borrowers with less than perfect credit.  

     And when credit issues do exist?  Today's knowledgeable, experienced LO's can guide hopeful borrowers back to good credit health and to becoming successful homebuyers.  

     Also:  Mortgage programs exist that may help someone that suffered a Short Sale, Foreclosure, or Bankruptcy buy a home again ... and possibly at an earlier point than they thought. 

     The article within Scotman Guide was correct on one point.  Credit availability could still be better.  Hopefully we'll get there soon.   

     But positives are to be found for borrowers within today's mortgage process.  Find me to discuss the positives to be found within yours today ... 


     

     


Are you hoping to Buy, Build, or Refinance a home in the Greater Chicago - Chicagoland area?  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

gmundt@goapmc.com

www.genemundt.com

 

 

              

          

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. 

Your Referrals are Greatly Appreciated!