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Homebuying & Mortgages: What Should be Learned

Homebuying & Mortgages:
What Should be Learned

     The summer has slipped away quickly.  And schools are already back in session or will be soon ...  

     It makes it the perfect time to talk about the value of "learning", specifically within the financing process.  Both from the homebuyer's perspective and the Mortgage Lender's.  

     Because basically, that's what much of it is.   Learning ...

     I know that this learning portion comes under fire fairly frequently these days. Many think there's way too many questions asked and too much info required.

     But I think that's giving it somewhat of a bum rap. Information ... details are fundamental and lay the groundwork for making sound decisions.  By everyone involved in the transaction.  

     The recent housing crisis taught us that ...  

     So when should the learning and sharing of info begin?

     For homebuyers:  Immediately after recognition of a desire to buy a home.

    Homebuyers then need to start a search for all sorts of info.  They need to look for and consider: 

  • Styles of homes 
  • Neighborhoods 
  • Costs involved
  • Location and proximity 
  • Taxes 
and ...
  • Info/Referrals for local professionals that will help guide and assist them during their purchase and financing

     Potential homebuyers must also learn as much as possible about the processes that lie ahead for them.  What will be expected of them during those processes.  

     From the Mortgage Lender's perspective:  The learning must begin at initial contact/communication with the potential Buyer (or their Agent).  A Lender needs to learn a variety of info from a potential Buyer so they can provide them the best financing options available.  

     Some of that info includes:

  • Name(s), Address, Contact Info
  • Downpayment abilities
  • Credit History/Credit Scores
  • Outstanding Debt
  • Income & Income History
  • Assets
  • Contact info for representing Agent  
  • Type of home/Where Applicant is hoping to buy
  • More ...
     But you catch my drift.  The learning stage of the homebuying and mortgage process is vitally important to both client and professional.  

     So learning ... and the learning process ... is really something that should be embraced by everyone involved within the transaction.

     Why is this learning so important?  

     I've learned through experience that "hiccups" in the homebuying process are most often the result of a lack of knowledge and details.  Not having too much info.

     Fact is:  The more learning that's done (and the earlier in the process that it's done), the better. It's also more likely the process will go smoothly, efficiently, and successfully.

     Right now, schools across the U.S. are entering into a new year of learning.  It's the right frame of mind for potential homebuyers too ... whether they hope to buy immediately or a year down the road.

     It's also a positive mindset for real estate and lending professionals to apply.  Learning is a "win-win" for all ...

     *  Hoping to Buy or Refinance a home in the 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

Gene Mundt, Mortgage Lender
NMLS #216987  -  IL Lic. #0006220  -  WI Licensed
American Portfolio Mortgage Corp.
NMLS #175656

You're Invited to Follow Me at:
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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!








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