Skip to main content

Mortgages: Why All Those Questions Are Important


Mortgages: Why All Those Questions 
Are Important    


     My 5-year-old grandson, Henry, is the most inquisitive kid I've ever run across.  At times, Henry's little mind comes up with questions faster than his lips can spit 'em out.  

     Henry constantly peppers me with questions when we're together.  And let me tell you, his "Pop Pop" loves every minute of it.  Asking questions is a great way for him to learn.


     Many of my mortgage clients are much the same.  Especially when they're first-time home buyers.


     Most borrowers want to know:  

  • Can I get approved for a loan?
  • What info will you need from me? 
  • How much home can I buy?
  • How much money can I borrow?
  • What kind of down payment do I need?
  • How soon can I buy?
  • What will my monthly mortgage payment be?
  • and more ...

     I think asking questions is good and it's a great way for them to learn ... just as it is with my grandson.


     Today's Mortgage Process ... should start with a conversation and should include your thoughts, plans, and hopes as you enter your home buying process.  And that conversation should also include LOTS and LOTS of questions.  A real exchange and volley of them.  

   
     During that initial conversation (often to the dismay of many potential buyers), questioning should go both ways.  

     Fact is, I'll probably end-up asking you just as many questions as you ask me.  


      Why?  First, it's the nature of home lending today.  Lenders are required to have a lot of info, backed-up by proof in the form of documentation.  As a result, I must know you and your complete financial/credit position inside out.  


     And how do I accomplish that?  By asking questions!  


     It's a Fact:  These days, buyers (or those refinancing) must expect and be prepared for questions from their Loan Officer and their Underwriters.  And be willing to answer them fully.  

  
     It's also True:  The more questions I ask you upfront or early in the process, the more clearly and thoroughly I know and understand your needs, personal background, credit, and finances.

     That means I can help and guide you better throughout your entire mortgage process.  It also means I can proactively address many issues that might come up during underwriting.


     So all those questions?  I know often they're not portrayed as such ... but they actually are a positive thing.  


     Preparation is key ... to the success you'll find when applying for your mortgage.  Preparing for the questions ahead of time helps you move through them more quickly and easily.  


     To prepare yourself and get a jump-start on your mortgage Pre-Approval and/or application, click HERE.  You'll find my handy list of the info/documentation typically needed at that time.  If you start gathering the info now it'll prove very beneficial when we speak. 


     Bottomline:  Don't fear hearing or asking questions. Bring 'em on!  





     *  Hoping to Buy or Refinance a home in New Lenox, Will County, or elsewhere in the greater Chicagoland area?  Contact Me today!  I'll be happy to hear from you and put my 40+ years of mortgage experience and expertise hard to work on your behalf.

     I'm easily found at:


Gene Mundt
Mortgage Lender  -  NMLS #216987  -  IL Lic. #0006220  -  WI Licensed

American Portfolio Mortgage Corp.
NMLS #175656

Direct:  815.524.2280
Cell/Text:  708.921.6331
eFax:  815.524.2281


You're Invited to Follow Me at:

 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    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!





     

       

     
     

     
     

     

     

Comments

Popular posts from this blog

Love Your New Construction .. But Educate Yourself About Future Tax Bills

Love Your New Construction ... But Educate Yourself About Future Tax Bills

*I want to preface this article by saying it's geography specific to the Chicagoland Area and its collar counties ...


So you've opted for building or buying a newly constructed home ... 

You've decided you'll invest most, or all, of your savings to cover Down Payment and Closing Costs.After all, it's a new home, you hopefully won't need money for repairs or improvements for quite a while, right?  

Plus:  The property taxes for your newly constructed home will initially be lower, as they'll be based upon the vacant lot on which your new home is built.  (The new home wasn't completed yet for the previous tax year's bill.) 

But how does this affectyour future tax bill and the tax portion of your monthly mortgage escrow payment?

When obtaining financing:  During your first year of a new construction occupancy, the real estate tax portion of your escrow account is based upon the last av…

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.

Rem…