Gene Mundt's 3 Mortgage R's ... - Rumors, Reminders, and 'Rithmetic!



  Being a real estate professional can be frustrating right now. Rumors, Reminders, and 'Rithmetic are coming into play more and more often.



I'm hearing lots of rumors regarding what's required for down payment right now.  I want to assure your clients (and you) that there is money available for lending ... and that 20% down payments are simply NOT needed to purchase a home.


  Mortgage programs DO presently exist that allow for NO or LOW down payments to be made.  I've written a blog highlighting some of these beneficial programs.  I hope you'll take the time to view this timely post and pass the post on to those of your clients in need of mortgage info or reassurance. 


  I also want to pass an important reminder on for those clients presently in mortgage processing.  Your assistance in educating buyers regarding maintenance of their credit and financial status throughout the mortgage process is extremely welcome.


  For potential home buyers and those already in the mortgage process, it's important that they DO NOT apply for new credit, make appliance & furniture purchases for the new home, or move bank accounts during their processing or just prior to mortgage application ... without my/lender approval.


  I don't need to tell you how these actions can negatively effect processing and closing of a mortgage.  Your assistance in reminding buyers and potential clients is greatly appreciated.





  And the 'rithmetic mentioned?  The internet provides many opportunities for potential home buyers to educate themselves regarding the home buying and mortgage process.  An educated buyer is a huge plus to any real estate professional.


  However, with the mortgage industry presently being so challenging, rapidly changing rules and regulations, and the individualized nature of each mortgage file, it's almost impossible for a non-professional to navigate, know, and understand what's to be considered for mortgage approval.  It's hard for them to know the right 'rithmetic involved.


  Simply put, the simplistic services and calculators provided in many places online can mislead or confuse potential buyers.  Typically what I find, is that they think they cannot possibly buy ... when in fact they can or are much closer than they think to that goal.


  Again, our combined effort in urging potential buyers to seek the advice of a real estate professional (and in particular an experienced mortgage lender) is very important. 


  I hope that you and your clients always feel that you can contact mefor answers to questions, guidance, and service.  I know I look forward to your contact.




Gene Mundt, Sr. Vice-President

Chicago Bancorp

NMLS#  216987

Fax:  312.624.6738

1823 Centre Point Circle

Naperville, IL   60563




Call me now!  

Direct: 815.277.4036  Cell/Text: 708.921.6331

Or visit:

Powered by Vistaprint. Email Marketing Solution for Small Businesses.
Email Marketing Try it FREE
Company Name | 16605 W. Oneida Drive | Lockport | IL | 60441