Looking At and Dreaming About Pretty Houses? Prepare Yourself to Buy


Looking At and Dreaming About Pretty Houses?
Prepare Yourself to Buy

     

“Plan for what it is difficult while it is easy, do what is great while it is small.” 

-- Sun Tzu



    Who doesn't like looking at beautiful homes? 

     Who can resist the temptation of imagining themselves living in those homes?  I certainly don't know anyone  ... 

     While it's great fun to view and dream about home after beautiful home, it's no secret.  Today's hopeful Buyers face some challenges when it comes to buy.  

     Low home inventories have proven to be an issue in many housing markets.  Credit, debt, finances, student loans, saving for a down payment ... all can present very real challenges and make it difficult for those hoping to buy.  And certainly the process of securing a mortgage is more demanding now too.  

     So what do you do if you want to turn your home dreaming ... into a successful home buying reality?  

     Prepare.

     Sounds like too easy an answer, doesn't it?  But it's really not ...  

     I've been in the mortgage industry for almost 40 years and it's become very obvious to me that those clients of mine that prepared themselves well in advance of their home buying and financing were the most successful.  They certainly navigated the demands of their loan financing more easily and quickly too.

     Consider the list below:  It's a list of the many steps involved in the home buying process that occur immediately (or quickly) upon a Real Estate Contract being signed ...

  • Financing/Loan Application MUST begin
  • Escrow is set-up
  • Home Inspection
  • If required, a Survey must be conducted
  • Attorney Review Period (if Attorney is involved)  
  • Appraisal is performed
  • Insurance must be secured
  • More

     Depending on the region, state, or municipality requirements in place, other actions may need to be taken as well.  This means virtually every Home Buyer will face multi-tasking of some sort during their processing.

     So the more educated and better prepared you are regarding all these requests you'll face, the better.  It pays to plan and prepare ahead.  

     Gather and set-up files for the financials and documents found below.  Then be prepared to produce them, as each will/may be required during your mortgage processing.    


  • Paystubs (W-2's)
  • Bank Statements 
  • Mortgage Statements (if other properties are owned)
  • Tax Returns (Personal and Business, if self-employed
  • Divorce Decree (if divorced previously)
  • Child Support documents and court payment/print-outs (if applicable)  
  • Investment Accounts
  • Retirement Accounts
  • Contact Information for Employer, Servicers above, Attorney, Insurance Agent, etc.
  • Bankruptcy Papers (if applicable)
  • Collection Papers (signed/stamped, if applicable)
  • Social Security/Pension Papers
  • If a Veteran:  Certification of Eligibility/DD-214 

    
Remember to update these files as new documents and info becomes available.  (To view a more thorough checklist of the documents typically required for Mortgage Application, click HERE.)     

     I think you can see from the list(s) above, that you have a number of documents/financial information needed during your loan process (depending on your personal scenario). Waiting to start your collection of these documents until after you have chosen and contracted for a home will inevitably introduce extra stress into the process for you.  

     I know that for a fact.  I've seen it happen.

     Looking at and Dreaming About Pretty Houses?  Prepare Yourself to Buy ...  Start your preparation to successfully buy and finance your Chicagoland home now ... 

    Get organized.  Contact me.  Get Started today.  Together we'll eliminate stress, hassle, and time delays to turn your dreams of home buying into reality ...

     *    Hoping to Buy or Refinance a home in Chicago or elsewhere in the Chicagoland area? Contact me! I'll put my 37 years of Mortgage experience and expertise hard to work on your behalf. 
     I can be easily found at:

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: 815.524.2281
https://1609956119.secure-loancenter.com/FreeConsult.aspx
  
 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   Zillow Acct. of Gene Mundt, Mortgage Lender  Gene's Chicagoland Blog/Gene Mundt, Mortgage Lender 
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 & WI. 


Referrals are Welcomed!      
            

     
     




     
     

O Say Can You See ... and Read Your House Numbers?


O Say Can You See ... 
and Read Your House Numbers?     



     Over the last year, I've been lucky enough to work with
some great clients.  And quite a few of them added to their family via the birth of a new baby ... or even two.  Yep .. twins!

     For those with new babies, Mother's Day had special meaning this year.  I thought that was worth noting and celebrating in a special way.  So my wife put together some gifts for our new moms and we delivered them to their door.  

     We've done something similar on other occasions in the past, but this time, delivery was a bit more challenging.  Many of my new moms lived in homes located on streets that were poorly marked, had missing house numbers, or had numbers not clearly visible from the street.

     Like I said, that made delivery of our gifts a bit harder to accomplish.  And it made me think that if we were having this problem, it was highly likely that others in search of their homes would too.

     So, ask yourself these 2 important questions:  

  1. How easy is it to locate my home? 
  2. Is my house number easily seen and read from the street?


     Is it time to update or change your house numbers? 
     
     If so, here's some advice for choosing your new house number display and placement:
  • Choose large numbers/letters that are easily seen from the street (minimum of 4 inches. Add 1" in height for every 25 feet of distance from the road over 50 feet.)
  • Choose Arabic numerals, easily-read font 
  • Replace numbers if they go missing
  • Display at eye level or higher
  • Consider replacing bronze or gold numbers/letters.  Bright and direct sunshine can render them virtually invisible
  • Choose numbers that are in sharp contrast to the background in which they are placed
  • Display your house number horizontally only
  • Post house numbers approximately 12 inches from a porch light.  That way the light shines on it for maximum ease and clarity of viewing/legibility  
  • Don't let overgrown vegetation, decorative plantings, flags, or decorations block the view of your house numbers
  • Place your house number on your mailbox or mailbox post (both sides) This is especially important, should you have a deep lot over 150 feet from the road
  • Display house numbers in multiple places
  • If you have a stone display, contrast the numbers from the stone.  Stone alone is virtually invisible at night.
  • Display only house numbers/letters.  Not your name, your children's name, or pet's name 
  • Maintain old house numbers so they aren't faded 


     In my case, only delivery of a small gift was slowed or in jeopardy when a house number and street couldn't be found easily.  But seconds count in an emergency situation. Lives could be at stake if your municipality, fire or police department, or ambulance can't find your home.

     Whether you're a new or long-time homeowner, please consider the placement of your home's house numbers and how easily they can be seen and read from the street. 

     Then take a few minutes and walk out in front of your home.  View your house numbers from different vantage points.  Then take action to enlarge, replace, or upgrade them, if needed.   

     And remember:  You can ensure great visibility of your house numbers .... be creative, have fun with your display, and increase your curb appeal ... all at the same time.  I've included some links below to help ...



     Have fun ... and be safe ...


     *    Hoping to Buy or Refinance a home in Chicago or elsewhere in the Chicagoland area? Contact me! I'll put my 37 years of Mortgage experience and expertise hard to work on your behalf. 
     I can be easily found at:

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: 815.524.2281
https://1609956119.secure-loancenter.com/FreeConsult.aspx
  
 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   Zillow Acct. of Gene Mundt, Mortgage Lender  Gene's Chicagoland Blog/Gene Mundt, Mortgage Lender 

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 & WI. 

Referrals are Welcomed!      
           


      

     

      

     

     

        

Can I Sell and Buy a Home at the Same Time? What You Need to Know

Can I Sell and Buy a Home at the Same Time?
What You Need to Know     


     Back in the late 70's when I started in mortgages, it was fairly commonplace to have "domino" closings take place.  That meaning multiple buying/selling transactions, each dependent upon an earlier one, successfully take place. 
     
     One initial Closing kick-started all subsequent Closings. Like the chain reaction seen in dominoes, each took place in a close time frame, one quickly following another.  

     The Sellers at one Closing became the Buyers at the next, and so on.  This happened so frequently back then that I didn't think much of it.  It was normal.

     But the frequency with which this happened grew less and less.  It came to a grinding halt during the downturn of the late-2000's housing crisis.  

     Understandably so.  Closings, in general, were far fewer in number. Sellers became restrained in their ability (and also less willing) to tackle the financial risks associated with these tandem transactions. 

     Currently, many markets across the U.S. have improved.  Although the healing has been more slow, I'm once again receiving financing questions from Chicagoland homeowners that are confident enough in their abilities to sell, or at least sell within the timelines of their purchase contract, to want to enter into these types of scenarios.  

     If that describes you, and you're thinking you would like to sell your Chicagoland home at the same time you're buying another, be aware that many things must fall into place properly for you to do this successfully.  The timing with which these things happen is important.  Again, just like in dominoes. 

     So what are these "things"?

     Below you'll find a list of critical factors that determine the success, outcome, and speed in which your transaction(s) are completed.  Those factors are:

  • Income sufficient to satisfy 2 Mortgage Payments
  • Assets to satisfy Down Payment Costs and Closing Cost requirements WITHOUT selling your current home first
  • Satisfactory Credit to accomplish new financing Approval
     And probably what is the least remembered and most overlooked criteria ....

  • Reserves.  The money retained AFTER Closing must be sufficient to cover 2+ months of BOTH Mortgage Payments, inclusive of Taxes, Insurance(s), ALL items affecting or related to owning BOTH properties (current and new home)

     
     ALL of the above factors are pre-requisites to financing Approval.  So it's important that you, as a step-up Buyer, consult with a Lender (and an Agent) before assuming you can afford two mortgages ... or enacting a sale or purchase.

     Although "contingent" offers are increasing in number once again within some housing markets, hopeful Seller/Buyer/Borrowers can't afford to assume anything in this situations.  You can't assume you can handle the risks faced within these scenarios.  Or the probability that your offer will be viewed positively by Sellers.

     I've written before regarding the importance of good communication between all parties (client and professional) involved in a real estate transaction. It takes on heightened importance with the more challenging selling/buying scenarios, such as the one talked of above.

     Simultaneous selling and buying of Chicagoland homes can be successfully accomplished.  While elements of these scenarios are different and unique, one thing is shared by all.  A hopeful Seller/Buyer/Borrower needs to get their "ducks in a row". 

     Obtaining a thorough, detailed analysis of your individual scenario ... including all the critical factors listed above ... well in advance of starting your selling/buying journey, is a critical step towards finding success.

     Let's talk today to initiate your best options and get the ball rolling ... 





     *  Hoping to Buy or Refinance a home in Chicago or elsewhere in the Chicagoland area?  Contact me!  I'll put my 37 years of Mortgage experience and expertise hard to work on your behalf.
     I can be easily found at:

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:  815.524.2281
https://1609956119.secure-loancenter.com/FreeConsult.aspx
  
 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   Zillow Acct. of Gene Mundt, Mortgage Lender  Gene's Chicagoland Blog/Gene Mundt, Mortgage Lender 
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 & WI


Referrals are Welcomed!

      
      

     

     



Real Estate Tax Bill Info - Payment Due Dates for Chicago/Chicago-Area Counties


Real Estate Tax Bill Info - Payment Due 
    Dates for Chicago/Chicago-Area Counties      


     For property owners in the Chicagoland area, Spring means tax bills ...   


     Tax Bills (or info) are now online for viewing and payment for the following counties:  



     The following include:   The individual website link for a Chicago-area County Treasurer's Office and due dates for their 1st and 2nd Installments of 2015 taxes (payable in 2016):

       1st Installment Due Date:  June 1, 2016
       2nd Installment Due Date:  September 1, 2016

       1st Installment Due Date:  June 1, 2016
       2nd Installment Due Date:  September 1, 2016

       1st Installment Due Date:  June 1, 2016
       2nd Installment Due Date:  September 1, 2016   


       As of this date, 2016 Tax Bills have NOT been mailed. It's        reported, via their website, that mailing will be mid-                May.

       As of this date, the Treasurer's Office has NOT mailed             tax bills yet.  Mailing is predicted to be by end-of-week,           (May 6th).  

       1st Installment Due Date:  June 7, 2016
       2nd Installment Due Date:  September 7, 2016

       Mobile Home Bills Due:  June 3, 2016 
         
       The mailing of 1st Installment - 2015 Taxes (due in 2016)        has been delayed, but 1st Installment will most likely be          due Mid-July, with 2nd Installment due in September,             2016

       1st Installment Due Date:  June 2, 2016
       2nd Installment Due Date:  September 2, 2016     
     
     Please Note:  Cook County property taxes have a different schedule for release of tax information.  

     Cook County property tax due dates/payments have their own schedule, different from surrounding counties, as well. 

     This year's important Cook County tax dates are:  

     The due date for the Tax Year 2015 - 1st                     Installment was Tuesday, March 1, 2016.  

     The 2nd Installment due date has not been announced as of this writing.  

     Note:  The 2nd Installment of Cook County taxes - due date varies, as it relies on the delivery of various info from other State/County agencies. (This 2nd Installment is reflective of:  Exemptions, State Equalization Factor, Taxing-District tax rates, new Assessed Values, Assessment Appeals.)


     Should you need further information on Cook County taxes and their due dates, please go to the Cook County Treasurer's website at: 


   or contact me at:  815.524.2280 
   or via my email:   gmundt@goapmc.com

   I'm always happy to provide information and assistance regarding taxes, credit, Mortgages, and Mortgage service ...



     *  Hoping to Buy or Refinance a home in any of the counties above or elsewhere in Illinois or Wisconsin?  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

 
 
  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   Zillow Acct. of Gene Mundt, Mortgage Lender Gene's Chicagoland Blog/Gene Mundt, Mortgage Lender 

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



Your Referrals are Greatly Appreciated!

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