Buying, Building, or Refinancing a Home? A Glossary of Terms

Buying, Building, or Refinancing a Home?
A Glossary of Terms  

     Everyone is susceptible to it ... 

     No matter their profession. But as a Mortgage Originator, I sometimes catch myself using slang or industry terminology when talking to clients and referral partners.  When you read and "talk" them as much as I do, it's only natural that it happens.  

     I find that many of my clients are well-read and informed regarding the Mortgage Process.  That they don't even skip a beat when I do it.  They're that familiar with the terms because of all the homework and reading they've done. 

     But for those that are first-time home buyers and new to the process ... or in its very early stages, that slang and those words can seem pretty confusing.  I might as well be speaking some foreign language.

     No doubt about it, there's a slew of words and terms that get used during today's Mortgage Process.  Many of them can be downright confusing.  
     Especially when I'm getting that "deer in the headlight look", I slow down ... explain the terms and documents in question ... and make sure they are completely understood before we proceed further.  

     Borrowers just can't make good decisions regarding their financing if they don't understand important parts of it.

     To help Borrowers acquaint themselves with the words and terminologies they'll be hearing throughout their Mortgage Process, I'll often refer them to the Mortgage Glossary I offer on my website

     As the Mortgage Process (and Industry) evolves, I add the new words and terminologies being used.  So if it's been a while since you financed a home, my Glossary is a great place to reacquaint yourself with mortgage and real estate terms ... and learn the new ones too.

     Buying, Building, or Refinancing a Home?
A Glossary of Terms  ... Hope my Mortgage Glossary proves helpful to you in all stages of your financing and new home search, whether that's just preliminary browsing or while in the process itself.

     If you have questions, are in need of further clarification of something you don't understand, or are in need of mortgage service, please don't hesitate to contact me.  I'm always happy to assist ...

    *   Hoping to buy or refinance a home in New Lenox - Will County - Chicagoland area - IL or Wisconsin?  Contact Me today!  I'll put my 40 years of Mortgage experience hard to work on your behalf.
     I can be easily found at:

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

American Portfolio Mortgage Corp.
NMLS #175656

Direct:  815.524.2280
Cell/Text:  708.921.6331
eFax:  815.524.2281

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    Gene's Chicagoland Blog/Gene Mundt, Mortgage Lender 
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!





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