The New Mortgage Process:
It's Unsung Advantages
“Fear not the unknown. It is a sea of possibilities.”
― Tom Althouse
Inaction breeds doubt and fear. Action breeds confidence and
courage. If you want to conquer fear, do not sit home and think about it. Go
out and get busy.
Dale Carnegie
“How can you know what you're capable of if you don't embrace the
unknown?”
― Esmeralda Santiago, Conquistadora
Never be afraid to try something new. Remember, amateurs built the
ark, professionals built the Titanic.
Unknown
“The big, bad unknown is only that until it is known. Then you look
back and wonder what all the fuss and worry was about.”
― S.A. Tawks, The
Spirit of Pessimism
I’m sure you see a pattern in the quotes
above. They all address the topic of fear
…
Fear. Whether
I’m talking on the phone with them, or they’re sitting in front of me, many of
my new clients reveal some level or form of it.
I’m seeing this far more often than I used to. And I suppose it’s not too hard to understand
why, given the reputation that the current Mortgage Process holds.
It’s become somewhat commonplace to see media
represent the modern Mortgage Process as an “uphill battle”. A progression of “daunting” tasks. Something to fear.
I believe that kind of reporting (and the resulting perceptions
and fears it fosters), keeps many wishful Buyers/Borrowers from asking questions
or seeking info about financing or buying a home. And that’s sad …
Now I’ll not deny that the current mortgage process
is far more detailed and lengthy than its counterpart of a decade ago. Proof … of a Borrower’s status, credit
history, and employment … now all need to be fully and thoroughly documented
and scrutinized.
It’s also true that current Borrowers are expected and
need to be more involved in their
mortgage process.
But it’s also a fact:
Current Borrowers are relieved of some of the burdens and demands that
would have been previously required of them in transactions. That fact has gone largely unsung and unnoticed.
Some benefits being enjoyed by new Mortgage Applicants
are:
- Advanced Technology allowing for safe delivery of documentation
- Elimination of the need for physical collection, signing (E-Signatures), and delivery of documentation. Borrowers often do not need to physically visit their banks, insurance agents, their employers/HR departments, investment counsellors, etc. to gather documentation. Technology does the work
- Advanced Communications make fact-finding easier, faster, and saves time
- Expanded & Flexible Service Hours are offered by many Originators (non-traditional office hours & weekends) ... a huge convenience
- Safe, secure online Pre-Qualification & Application options are now often available
- Pre-Qualifications & Applications can now be conducted in the convenience of Borrowers’ homes, workplaces, or other destinations ... or via phone/other technology
- Closings of a Mortgage can now take place during more flexible hours and in the comfort of the Borrower’s home, workplace, etc. …
- More …
Each of the above benefits is currently offered
by myself (and other Originators) within
the modern Mortgage Process. Yet, these
benefits are often overlooked or left unmentioned by the media … and potential
Buyers and Borrowers remain unaware of them.
It’s left
unsaid that these improvements to the current Process vastly expand and
improve the level of personal service offered to Mortgage Applicants now
versus that was received even a few years ago. The importance, benefit, convenience, and relief
provided to Borrowers via these improvements shouldn’t be overlooked.
I’m not
suggesting that the improvements/benefits found within the current Mortgage
Process erase the requirements and responsibilities made upon today’s Borrowers.
But they do assist in “un-complicating” the process in some ways. Ways that should serve to offset misperceptions
and fears currently held by those wishing to buy.
What I’m saying is: If you think you might want to buy ... of even if you're unsure, you should ask questions. You
shouldn’t let anything stand in your way. Certainly not fear of the Process itself.
If you work
with the right Originator at your side, you will be successful and the
Process should go more smoothly and quickly.
So how do find that “right”Originator?
While interest rates are certainly
important, it’s important to pay attention to other details and attributes while
searching for your Chicago-area Mortgage Originator too.
While interviewing Originators, find
one that:
- Listens well as you explain your needs
- Encourages you to ask questions
- Provides clear, thorough explanation to each question asked
- Offers to seek/research answers and info, if none is readily available
- Offers Options to un-complicate and ease your upcoming Process
- Communicates via a variety of methods
- Offers ongoing communication, information, and service beyond the Closing Table
It’s these
attributes and talents that serve as solid clues regarding the level of
service you’ll receive … and the ease of the process experienced
while working together.
It’s only natural
to feel a bit anxious while buying and financing a home. It’s a big step … and an exciting one. But true fear … fear that keeps you from your
home buying goals and dreams … shouldn’t be allowed in the financing equation.
Educate yourself. Address and eliminate as many of the “unknowns”
and possible issues prior to entering your Mortgage Process. The fear will disappear.
* Are you hoping to buy a home in Chicagoland
– IL – WI? Let's talk! I'll put my 37 years of mortgage
experience and expertise to work answering
your questions and fulfilling your financing needs.
I can be easily found at:
Direct: 815.524.2280
Cell/Text: 708.921.6331
eFax: 815.524.2281
You're Invited to Follow Me at:
Gene Mundt,Mortgage Originator, an Originator 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
and Wisconsin.
Referrals are Greatly Appreciated!
