What to Expect When You Apply for Mortgage Financing

By
Real Estate Mortgage Broker with www.genemundt.com NMLS #216987

 

 

What to Expect When You

Apply for Mortgage Financing

 

 

 

    So you've heard that applying for mortgages ... and mortgage processing itself ... is a pain in the tush, huh?

 

 
    I cannot lie to you.  It can be ...
 
 
 
    But I think that stories, heard over and over again, contribute to perpetuating some of those problems. I believe that what an applicant hears (and thinks) prior to mortgage application, can influence what ends-up happening during their mortgage processing. 
 
 
    How's that, you say?  Let me explain ...
 
    The stories heard set expectations. They serve to make applicants so fearful, so uptight about the mortgage process ... that they sometimes LOOK for and EXPECT problems to occur.

    And it's been my experience, that if the mindset is to expect trouble, troubles are usually found.  I believe attitudes and expectations often play a huge role in the eventual outcome.
 
 
 
    Please believe me, I'm not trying to gloss over obvious and undeniable lending industry issues ... the present process CAN be a royal pain. For ALL involved, whether Buyer or Professional.

    The process of financing a home can, and is too often, tedious, repetitive, frustrating, and way too lengthy in duration. In comparison to the "easy-breezy" lending practices of the mid-2000's, today's mortgage applicants are asked to be far more engaged in a myriad of ways, and in every step of their mortgage process.

    Applicants are likely to have to produce large amounts of financial documentation, offer clarity (both verbal and written) regarding that documentation, and much more. Some of which, at times, admittedly makes absolutely NO sense to have to supply. Yes, the Mortgage Process CAN be as guilty as accused.

    But we've seen the results of the "easy-breezy".   And it's not pretty. Too many people had to face financial hardships. Too many people still suffering
 
 
 
 
 
   It's my opinion that, if we want to truly protect Home Buyers ... the process of borrowing large amounts of dollars to buy a home should NOT be "easy-breezy". There's too much at stake for them, both in dollars and their financial future. That's not to say though that I, as a  Mortgage Lender shouldn't be pursuing ways to make it "easy-er" for them.
 
    I've found that much of what makes the life of my mortgage applicants easy-er,  can be summed-up pretty easily.
 
     Potential Home Buyers should: Take simple steps to prepare themselves prior to application, educate themselves about the entire process of buying a home and financing that home, and set themselves realistic expectations as to what it will take on their part to accomplish their home buying, their mortgage application, and the processing of their mortgage to completion.
 
 
    Yep ... I said it. Some of the responsibility must be the mortgage applicant's. But should an applicant follow my advice and accomplish the 3 things I mention above, success should follow, in a majority of cases. Plus there will be fewer unhappy stories to pass on to others following them, deep-sixing a vicious cycle of doomed expectations.

    So, to help you, the Buyer, to accomplish the education and preparation you need, I have included a few links (below) to some beneficial info.   "Click"  on the links provided and take a good look. Download the info and keep it for handy reference.

 
    Keep in mind that your home buying and mortgage financing will be specific to YOUR financial scenario. More, or different info, may be required during your application and processing. But these links below should be a good and sound launching pad towards reaching your end goal. A successful mortgage closing and home purchase.

    Please remember, should you have questions, please feel free to  contact me  for answers or assistance.

 
Helpful Links,
Courtesy of Gene Mundt  
 
Contact Gene Mundt, ,Mortgage Lender

    Information & Documentation Needed for Mortgage Application

 

    Mortgage Pre-Approval Application  (Includes much of the info that will be required from you for actual mortgage ap)

 
 
 
   I'm hoping that these links help you significantly in many ways ...

 
 
 
 
  *  Let's work together to make your home buying and mortgage service as smooth as possible ... stress free.  Contact me  today. I'll put my 35+ years of experience and expertise to work on your behalf.
    I can be found at any of the following:
Direct: 815.277.4036
Cell/Text: 708.921.6331
Skype: 630.219.1316
Mobile:  m.genemundt.com

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Gene Mundt

Regional Manager - Mortgage Lender

American Portfolio Mortgage Corp.

                                                                    Personal NMLS #216987

AMPC Logo

NMLS # 175656

 

Gene Mundt, Mortgage Lender, a Lender with 36 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.  Gene Mundt, Mortgage Lender can be contacted at:  815.524.2280 or via his email: gmundt@goapmc.com.

Contact Gene Mundt, Mortgage Lender soon!

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Re-Bloggged 3 times:

Re-Blogged By Re-Blogged At
  1. Lenn Harley 06/01/2012 07:43 AM
  2. Eric Michael 06/01/2012 12:44 PM
  3. Andi Grant 06/01/2012 02:02 PM
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Topic:
Lending / Financial
Location:
Illinois Will County Joliet
Groups:
Advice for Buyers
Mortgages
1st Time Buyers
Chicago Area Real Estate BUZZ!
Local Expert
Tags:
home buying
preparing to apply for mortgage
mortgage processing
mortgage application
applying for a mortgage

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Rainmaker
933,111
Nick T Pappas
Madison & Huntsville Alabama Real Estate Resource
Assoc. Broker/Broker ABR, SFR, e-Pro, @Homes Realty Group, Huntsville AL

Hello Gene, congrats on a well deserved gold star.  You recently stopped by one of my posts regarding preapproval and I want you to know that it was very much appreciated.  Always like to have a mortgage persons input regarding that topic.

June 02, 2012 05:12 PM
Rainmaker
933,111
Nick T Pappas
Madison & Huntsville Alabama Real Estate Resource
Assoc. Broker/Broker ABR, SFR, e-Pro, @Homes Realty Group, Huntsville AL

Gene, by the way I think you might know that I'm from the Chicago area and my brother lives in Bolingbrook...not too far from you in Joliet...say hello to Jake and Elwood :)

June 02, 2012 05:14 PM
Rainmaker
639,555
Gene Mundt
Mortgage Lender - Chicago/Chicagoland Mortgages
www.genemundt.com

Nick:  Thanks so much for taking the time to write ... twice!  And yep ... Bolingbrook is a nearby stopping ground for me for work and play.  Amazing how that area has grown and changed over the last couple of decades.  The whole area, in fact.  I'm hoping if you are up visiting your brother that you'll give me a shout-out ... would love to meet you.  Did you know that they actually have a picnic area/park at the prison now??  Talk about things changing, huh??  Hope business is booming for you, 

Gene 

June 03, 2012 07:46 AM
Rainmaker
529,735
Don Sabinske
Sabinske & Associates Inc.
Don Sabinske, Sabinske & Associates Inc.

Another great primer from the master at simplifying the details of mortgage financing.  Thanks, Gene. It was definitely feature-worthy.

June 03, 2012 12:13 PM
Rainmaker
639,555
Gene Mundt
Mortgage Lender - Chicago/Chicagoland Mortgages
www.genemundt.com

Appreciate your kind words, Don ... your thumbs-up just plain makes me feel good ... 

Gene

June 03, 2012 12:45 PM
Anonymous
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Rainmaker
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Gene Mundt

Mortgage Lender - Chicago/Chicagoland Mortgages
Contact Me For Mortgage Answers, Info & Assistance:
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