Category Archives: Uncategorized

Sellers Demand to Know You’re Serious Get Pre-Qualified!

Sellers Demand to Know You’re Serious

Get Pre-Qualified!

Get Pre-Qualified .. Contact Me!

 

Be Pre-Qualified for your Mortgage before you go and view homes!

There, I’ve said it.  First thing.  Right out of the box.  So it can’t be missed.

I place my advice right at the top of this post in bright colors so it’s not overlooked.  And because it’s such a very important message, especially for buyers hoping to purchase a home in a highly competitive housing market.

Right now, homes for Sale are receiving lots of attention.  The shortage of homes currently for sale in most housing markets dictates that.

This means that Buyers must be decisive and ready to act when they find “the home” they want.  They must have already talked to their Mortgage Lender and been Pre-Qualified for their financing PRIOR to the viewing of that home.

Why?

Ever hear the sayings, “Time is of the essence“?  Or “You snooze, you lose“?  Both are truer now than ever before when referring to home buying.

Sellers want to know, “Is this potential buyer qualified to buy my home”?  They want “proof” of such in hand and a Pre-Qualification Letter presented with any offer made.  (My personal practice is to Pre-Approve my buyers, providing even more “peace of mind” to my borrowers and the sellers involved.)

The Pre-Qualification process is not a sales tactic being enacted by your Agent or Mortgage Lender.  It’s reality.

Your real estate professionals are asking that you be Pre-Qualified prior to viewing homes because:

  • It strengthens your offer
  • It will help you better compete in a multiple bid scenario
  • The majority of Sellers won’t even consider your offer if you’re not Pre-Qualified for your financing (and able to produce a Pre-Qualification Letter proving it).

Yes, it’s that clear cut and it’s that simple …  

In the majority of housing markets across the U.S. today, you need to be Pre-Qualified.  That’s definitely been my experience in the housing markets of New Lenox – across Will County – and the Greater Chicagoland area.

So what should hopeful home buyers do?   Contact Me Now!

I refer you back to Paragraph #1.  Be Pre-Qualified!  The sooner the better.

So much of today’s mortgage financing …and the receiving of the best financing option available … relies on borrower’s credit scores and credit history.  They affect the interest rate received, the number and choice of mortgage programs … in short the options they have available to them.

But borrowers all too often focus solely on interest rates.  I’ve found that typically it’s the first thing they want to know when we talk.

There is no doubt that interest rates are important.  However, with some lead-in time to their home buying and a bit of preparation, many borrowers could reap better results (including better interest rates) when applying for their mortgage.

Acting proactively regarding your financing and following the advice of your Mortgage Lender can result in monetary savings.  It can also open up more/better mortgage options at the time of purchase and help your financing process go more swiftly and smoothly.

Most people wouldn’t think of buying a car, TV, or even clothes or shoes without conducting some comparisons or preparation first.  All too often this is not the case when it comes time to buy and finance a home, yet the possibilities for savings are far greater and the savings themselves are larger and carry more impact.

It’s a fact:  In the over-riding majority of cases, you will be required to have been Pre-Qualified by a Mortgage Lender if you wish to view, put a bid on, or buy a home.

Enter into your home buying as prepared as possible.  As ready for competition as possible.  Give yourself an edge.

Contact me now to be Pre-Qualified to buy a home in the New Lenox – Will County – Chicagoland area …

 Get Answers Now!

 

 

Looking to be Pre-Qualified for your Mortgage?  In need of financing and credit answers?  Contact me!  I’ll put my 40 years of Mortgage experience and expertise hard to work on your behalf.
I’m 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
 Get a Quote - Be Pre-Approved!
 

  Twitter - Gene Mundt, Mortgage Originator   LinkedIn Account of Gene Mundt, Mortgage Lender   Facebook Acct. of Gene Mundt, Mortgage Lender   Pinterest 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 Always Appreciated and Welcomed!

 

Hoping to Buy a Home? Have Student Loans? Consider “HomeReady” Financing from Fannie Mae …

Hoping to Buy a Home?  Have Student Loans?

 

Consider “HomeReady” Financing from Fannie Mae …

 Loosening Guidelines Can Help You Qualify! Contact Me!

 

After years of warranted tightening of guidelines in the Mortgage Industry, there are some new changes taking place that help to “relax” some guidelines, as they pertain to Fannie Mae (Conventional Loans) …
Come mid-July, 2017, Fannie Mae’s Automated Underwriting Systems will be “tweaked” to allow up to a 50% Total Debt-to-Income Ratios (DTI) … in some cases, not all.
I think there will be a sort of “learning curve” that takes place during the early days of this “tweak” … but, you can probably safely assume that the following will NOT fall within those scenarios considered for the new higher 50% DTI:
  • Low Credit Scores
  • Low Down Payments/ Limited Assets
  • Unstable Employment Histories
In addition to its upcoming increased Debt-to-Income Ratios, Fannie Mae just recently took a more flexible (generous to Borrowers) stance on calculating of Student Loan Debt. (Should you have Student Loans, please contact me to discover if this change benefits you.)
A third change by Fannie Mae was put into place last year with its implementation of a 3% (minimum) down payment program known as HomeReady * …
Below you’ll find the major highlights of Fannie Mae’s “HomeReady” program:
  • Forgiving Credit Scores
  • Reduced Private Mortgage Insurance(PMI) rates
  • PMI is cancellable, per Servicing Guide policy
  • Interest Rates as favorable, if not lower, than traditional Conventional Loans
  • Flexible Income Guidelines allowing:

A.  Non-Borrowing Spouse

       B.  Non-Borrowing Boarder/Rental Income Investigate Options Available to You!
  • Flexible Funds for Down Payment and Closing Costs, allowing Gift Money and Seller-Paid Credits for Closing Costs, etc.
  • There is no minimum contribution required from the Borrower’s own funds
  • Allows Buyers that have been homeowners previously (Do NOT have to be First-Time Home Buyers)
  • Expanded Debt-to-Income Ratios to 50% (in certain cases)
  • ALL property types are allowed, i.e. Condominiums, Townhomes, Single-Family, 2-4 Units (Properties must be Owner-Occupied)

It’s my opinion that “HomeReady” is a financing option that’s presently being under-utilized.  HomeReady’s cousin at Freddie Mac (“Home Possible”) is included in my assessment, as both Programs can be smartly and responsibly implemented to enhance financing options for a segment of Borrowers that might not qualify for other traditional financing programs.  “Home Possible”  and “HomeReady” may also allow some Buyers to qualify for a purchase/ownership of a higher-priced home … something that had eluded them previously.

For those that might fear a return to the more free-wheeling lendingguidelines in play prior to the housing downturn:  Neither of these programs is a reckless, no documentation, “look the other way” financing option.  The financing offered via these programs requires Home Ownership Counseling … an educational session that the overwhelming majority of participants have reported as a great benefit to them.
“HomeReady” can prove to be a very viable option for those Borrowers challenged financially by Student Loan Debt.  It also addresses challenges for those that rely on more non-traditional income sources.  For both scenarios, it certainly is worth consideration.
For those that find themselves in these circumstances and are hoping to buy a home in the New Lenox – Will County – Chicagoland area, reach out.  I’ll investigate all your options and get you on the path to buy and finance a home successfully …
Hoping to Buy or Refinance a home in the Chicagoland area? Contact Me! I’ll put my 40 years of Mortgage experience and expertise hard to work on your behalf.
I’m easily found at:

Gene Mundt
Mortgage Originator – NMLS #216987 – IL Lic. #031.0006220 – WI License 216987
American Portfolio Mortgage Corp.
NMLS #175656
Direct: 815.524.2280
Cell or Text: 708.921.6331
eFax: 815.524.2281
Get Answers .. Contact Me NOW!
  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
        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.
Referrals are Greatly Appreciated and Welcomed!

Evanston IL Gets DIVVY Bike Share

The Evanstonian

Evanston IL Gets DIVVY Bike Share

Have you ever heard about DIVVY Bike share? It is a system where once you join you get access to nice bikes for a little riding around town by the hour. There are stations where the bicycles are set up and it is completely automated so you can get and return a bike whenever you want. So far this system is only available in New York City, Washington DC , Minneapolis, Miami, Columbus, San Francisco, Boulder, Boston, Houston, and Chicago Land.

Here is a photo I took today of a DIVVY bike station

IMG_20141117_153741

There are different types of memberships available including one I think is really cool and that is the ability to share with a non-member and get to go for a ride with a friend for 30 to 60 minutes or so when ever you want. There is no need for a…

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A Naperville Food Tour Makes a Great Christmas present!

napervillefoodtours

Food tours are great as a present. It is a unique gift especially for those who love food and love to discover some history of the city . A Food Tour Gift Certificate is just the thing!

For those of you who have family and friends in Naperville Illinois, check out Naperville Bites and Sites for their food tours.  Naperville Bites and Sites has been voted the Number #1 Thing to Do in Naperville on TripAdvisor.Go to http://www.napervillefoodtours.com and click on the gift certificate tab to order. Naperville Bites and Sites is a culinary and cultural walking experience through Naperville’s historic neighborhood…One delicious taste at a time!

http://www.napervillefoodtours.com

NBSpicscollage

Discover and taste where Chocolate comes from Discover and taste where Chocolate comes from

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“To Condo or Not to Condo”. That Should Be the Question …

“To Condo or Not to Condo”.  That Should Be the Question …

http://www.genemundt.com
As a Chicago-area Mortgage Lender, I never try to influence a Buyer as to the type of property they should or should not buy.  That’s their personal choice …

But as their Mortgage Lender and Advisor, I DO try to educate them regarding different property types and the pros and cons associated with each as it pertains to their upcoming mortgage process.  Why?

Because there are some fundamental differences in how differing property types flow through that process.  There can also be some differences in costs incurred while moving forward, as well.

When I talk of “differing property types”, what exactly do I mean?  Here’s my simple explanations:

  • Single-Family Residence Detached:  No common walls … a free-standing House
  • Single-Family Residence Attached:   Examples of this classification are Duplexes and Townhomes with no Associations
  • PUD:  Planned Unit Development.  Can be either of the above classifications (Single-Family Detached or Attached) IF there is a formal recorded Homeowners Association which charges and collects Dues
  • Condominium:  An Association is in place, the LAND is commonly-owned, the Unit Owner does NOT own the land (only the Unit itself)

Please Note:  I didn’t include “Townhome or Townhouse” in the above.  Townhomes/Townhouses are NOT a property classification, rather only a “design or style” of residence. 

Perhaps it’s the former Residential Appraiser in me, but the buying public and their representatives need to know the impacts of the type of property (legal ownership) being considered for purchase.  The fact of the matter is, the classification of property (remember the definitions above) have a “preferred pecking order” in the eyes of mortgage lenders.

What is the implied pecking order?  The “ideal” collateral for a Lender is the Single-Family Residence, Detached, with NO Association involved.   

     Why?   With this type of property, there are the least amount of rules and restrictions to address during processing.  Typically, there’s also fewer (and fewer ways) for issues to arise during mortgage processing.

https://1609956119.secure-loancenter.com/FreeConsult.aspx
The Automated Underwriting Models utilized by Lenders assesses the layer of risk involved with the specific property type being purchased by a Borrower.  Automated Underwriting also assesses the likelihood or potential for default on a loan.

In other words, Buyers with identical credit, identical income, the same employment, the same down payment and assets … but buying differing property types … MAY reap different results when it comes to an Approval/Acceptance via Automated Underwriting.

Let me provide you an example of the extremes that can be found:

Detached Single-Family Residence 

(most preferred)

VS
Condominium 
(on the least preferred risk-based collateral)
     Depending on the down payment percentage:  The CONDO buyer will/may be charged a higher interest rate for their mortgage financing … OR they may choose to pay higher Closing Costs, as a result of risk-based pricing assessed on a Conventional Loan, per Fannie Mae or Freddie Mac.
     To support the existence of this phenomenon, I provide details from two of my most recent Pre-Qualifications.  They shed light into my explanations regarding property types.
     Scenario #1:  A First-Time Home Buyer had entered into a Contract to Buy.  She thought (and had been told prior to our consultation together) that she was viewing/purchasing a Townhome.  In fact, what she was buying was a Townhome only in style and design.
     What she was really viewing and had contracted for was legally a Condominium.  The land was commonly owned by the Association, and she as the Unit Owner would not own the land upon purchase as she had thought.
     End Result?  My Buyer cancelled her Contract after learning the facts and figures regarding her Mortgage process and the costs she would pay as a result of buying a Condominium.  Her Interest Rate would have been higher due to the Condominium rating.
     After discovering the Rules, Regulations, Restrictions associated with the property … and discovering that there were unpaid Assessments associated with this Unit and Complex … she changed her mind about moving forward with her purchase.  She’s presently in the search for another property.
     Scenario #2:  A past client that purchased a Townhome in a “PUD – Planned Unit Development” years ago, contacted me.  He is now looking to sell his Townhome and buy again.
     He’s looking to purchase a Single-Family Residence (Detached with no Association) for his next home.  He’s finding that selling his present property has some challenges.  By-laws and Declarations associated with his Townhome are impacting the sale and has eliminated some potential and hopeful Buyers from making offers.
     As a Result?  As he can qualify for a new Mortgage while retaining ownership (and the Mortgage) on his present Townhome, my client has decided to buy his new Single-Family Residence before selling.  He’s in an enviable position, as many Buyers cannot do this.
     The two scenarios above point to a current and vivid reality:  The marketplace recognizes differences in property types.  Knowing this makes it somewhat easier to understand why Fannie Mae and Freddie Mac do likewise and why they rate property types differently.
     My next post will continue with this topic and showcase the impact of Condominium Property type on the pricing of a loan from an Interest Rate and Closing Cost perspective.  The info contained within these two posts will help you decide …
“To Condo or Not to Condo”

http://www.genemundt.com/ContactUs.aspx

*  Hoping to Buy, Refinance, or Construct a home in New Lenox, another Lincoln-Way Community, Will County, or elsewhere in the Chicago-areaContact me!  I’ll put my 37 years of Mortgage experience hard to work on your behalf.
I can be easily found at:

Direct:  815.524.2280

Cell or Text:  708.921.6331
eFax:  815.524.2281
Click HERE for a FREE Mortgage Quote!
 
  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   Digg Acct. of Gene Mundt, Mortgage Lender
 Trulia Acct. of Gene Mundt, Mortgage Lender   Zillow Acct. of Gene Mundt, Mortgage Lender    Klout Acct. of Gene Mundt, Mortgage Lender    Gene's Chicagoland Blog/Gene Mundt, Mortgage Lender
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. 
 

Don’t Assume You Know the Outcome of a Mortgage Consultation You’ve Never Had

Don’t Assume You Know the Outcome of a 
Mortgage Consultation You’ve Never Had 

As often happens, another’s writings motivate me to write a post of my own.  That was the case with a post written by fellow-lender (CT) and ActiveRain member, Joe Petrowsky.  Joe’s recent post entitled, “Going from 6% to 4.25% Isn’t Always a Good Idea”, inspired me today.

For me, the meaning of Joe Petrowsky’s post was clear.  No blanket statements can be made regarding Mortgage Lending.

There’s certainly no “one size fits all” statements to be found regarding mortgages these days.  Each client’s individual finances, needs, goals, credit history/scores, plans for the future, and more need to be considered and taken into account when making an assessment regarding the wisdom of buying and refinancing.

Again … and I can’t stress this point enough:

The needs and goals of a Borrower, both short term and long, should weigh into their final decision regarding the buying or refinancing of a home.

But this FACT needs to be stressed strongly too:  

     What your Uncle Bob, co-worker Eddy, or friends Maria and Phil learned and experienced through their mortgage consultation and Closing process, does NOT pertain to you.  No matter how closely you think you pair-up with them, their situation, salaries, price of home, or other info and statistics.

https://1609956119.secure-loancenter.com/FreeConsult.aspx     Remember:  Even very small differences in the following info (and more) can garner differing outcomes for Borrowers:

  • Credit Scores/Credit Report/Credit History (of both you and any Co-Borrower(s)
  • Income(s):  Differing outcomes can be found based upon HOW Mortgage Applicants are paid.  Are bonuses involved in income earned?  Commission-based income?  More …
  • Property Taxes:  The real estate taxes of 2 similarly-priced homes can be drastically different.  The amount of the property taxes contributes greatly to a Mortgage Approval/Denial.
  • HOA Fees:  Same situation noted above regarding Property Taxes.
  • Down Payment made
  • Mortgage Program utilized for financing
  • Financial Goals – Financial Needs
  • ETC. …

     What I’m trying to impress upon you (or your clients) is this: 

The only way anyone can personally know for a FACT if it’s timely and wise for them to Refinance … or if they can be approved for a Mortgage to purchase a home … is via a Mortgage Lender and a thorough Mortgage Consultation.

Don’t Assume You Know the Outcome of a Mortgage Consultation You’ve Never Had.  Talk to your Lender to obtain the FACTS as they pertain to your personal finances, home, goals, and needs.  What you discover may surprise you and will certainly have the ability to improve your future …
http://www.genemundt.com/ContactUs.aspx
 
     *  If in the Chicagoland-area and wanting to discover the FACTS regarding your financial scenario, your ability to Buy a Home, Construct, or Refinance … 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   Digg Acct. of Gene Mundt, Mortgage Lender
 Trulia Acct. of Gene Mundt, Mortgage Lender   Zillow Acct. of Gene Mundt, Mortgage Lender    Klout Acct. of Gene Mundt, Mortgage Lender    Gene's Chicagoland Blog/Gene Mundt, Mortgage Lender
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. 

15 Summer Chicago-Area Home Maintenance Tips

15 Summer Chicago-Area Home Maintenance Tips

 

     Temperatures in the Chicago area are to be in the mid-80’s today.   Finally!  Warmer weather has arrived!

     If you’re a Chicago-area homeowner like I am, this means you’re heading outdoors to perform routine summer maintenance chores.  Particularly after this year’s hard and long winter, there’s plenty to be tackled.

     Having a Checklist of items helps me remember what needs to be accomplished around my home and property for the hot summer months ahead.  Below you’ll find the handy checklist I use.  Hope it proves useful as you assess and maintenance your home …

Warm Weather Home 
Maintenance Checklist
 
    1.  Evaluate and inspect your roof.  Check for missing or loose shingles.  Examine the flashing around the chimney and any skylights.
    2.  Inspect your gutters, downspouts, and exterior drains.  Clean them of any debris.  Make sure gutters and downspouts are securely attached to your home.
    3.  Check your HVAC system.  Have a professional perform a thorough check-up.  An annual check-up should include the changing of any filters and cleaning.
   4.  Repair your driveway and sidewalks.  Freezing cold, salt, and snow can be damaging.  Patch cracks and re-seal, where applicable. 
   5.  Inspect the siding of your home.
   6.  Check and/or replace window and door seals.  Caulk so windows and doors remain airtight and watertight and you keep pests/bugs out.
   7.  Check your window and door locks to make sure they are working properly.
   8.  Check pipes inside and out for leaks caused by winter’s freezing.
   9.  Clean and pressure-wash any decks.  Repair any loose handrails, boards.  Re-stain, seal, or paint to protect the wood and improve curb appeal.
 10.  Take a good look at your lawn and landscaping.  Repair, rake, clean, prune, and weed away winter’s remains and dead vegetation.
 11.  Trim back tree, bushes, and shrubs.
 12.  Inspect and repair any fencing on your property.
 13.  Open up basement windows and air your basement out.
 14.  Inspect all detectors in your home.  Replace batteries.
 15.   Inspect your attic for leaks or infestation.  
 
     Note:  I recently found an App that offers seasonal home maintenance tips and suggestions.  It will remind you when to perform valuable routine maintenance around your home.  You can download it to either iPhones or Androids.  
 
     Click here to get this helpful App:  
 
 
     You’ve now maintenanced, protected, and increased the value of your home.  Relax and enjoy beautiful Chicagoland … 
 
 
 
     *  Hoping to become a Chicago-area Home Buyer?  Looking to Build or Refinance in the Chicagoland area?  Contact Me now!  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 or Text:  708.921.6331
eFax:  815.524.2281
 
Click HERE for your 
FREE Mortgage Consultation! 
 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   Digg Acct. of Gene Mundt, Mortgage Lender
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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

Enjoy the Pools, Splash Parks, & Waterparks Located within Will County, IL

 

Enjoy the Pools, Splash Parks,  & Waterparks
Located within Will County, IL

     Kids across Will County are … or soon will be … out of school for the summer.  Parents are looking for safe, healthy ways to keep their kids active and entertained.  Swimming, swimming classes, waterparks, and splash parks can be a great answer to this parental dilemma.  
http://www.genemundt.com
  Will County has many such facilities located within its

boundaries.  Residents and visitors to the County have many options to consider and enjoy.  

     Some of these water facilities are affiliated with local community park districts.  Others are businesses.  But both offer their patrons  an entire summer of activities and fun.

     Below you will find information regarding water park, pool, and splash park facilities found throughout Will County.  I hope you, your family, and friends have many chances to enjoy these facilities throughout the coming summer and beyond.

     Contact numbers and website links have been included within the info I offer, should you have additional needs or questions:

http://www.willcountyillinois.com/
Will County Swimming Facilities & Waterparks  
Joliet – Splash Station
815.741.7275
Website  
Opening Day:  May 31, 2014
Romeoville – Heritage Falls Water Park
815.886.6263
Website   
Summer Pool Passes Available!
Lockport/Crest Hill – Chaney Pool
815.726.2299
Pool opens May 31, 2014
Weekend Hours only after August 17, 2014
Plainfield – Ottawa Street Pool
815.436.3314
2014 Season Runs:  May 24th – August 17th
Special Resident Rate Offered.  Proof of Residency Needed
Crete – Village Woods Retirement Center Pool
708.672.6969
American Red Cross Swimming Lessons During Summer
 
 
Channahon – Tomahawk Aquatic Center
815.467.SWIM  (7946) 
Sign up at www.RainedOut.com to receive text/email alert if 
operating status is being affected by the weather 
Frankfort Square Park District – Splash Park 
 815.469.3524
Park Opens May 24, 2014
Residents receive Discounted Prices
Lincoln-Way High School Communities
Aquatic Centers
Adult Swim & Swimming Lessons Available 
Summer Hours: May 27th – August 29, 2014  
Bolingbrook – Pelican Harbor
630.739.1705 
Resident Discounts Available with I.D. 
I.D.’s available at Annerino Community Center & Bolingbrook Recreation & Aquatic Complex 
     
     Hope this information on Will County Pools, Splash Parks, and Waterparks helps you, your family, and friends find ways to enjoy summer more thoroughly.  Please remember while at the waterparks and pools, to follow all rules and regulations.  Stay safe and enjoy!
http://www.genemundt.com/ContactUs.aspx
      
    *  Hoping to Buy, Build, or Refinance a home somewhere within Will County or elsewhere in the Chicago area?  Contact Me Today!  I’ll be happy to 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 or Text:  708.921.6331
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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
 

Oo Oo-oo oo That Smell! Can You Smell that Smell?

Oo Oo-oo oo That Smell!   Can You Smell that Smell?

https://1609956119.secure-loancenter.com/FreeConsult.aspx     Read almost any real estate-related magazine or blog and it’s highly likely that you’ll stumble upon an article regarding the odors and smells that can be found in a home.  And how important it is to remove them from your home while it’s for sale.

     It’s generally accepted that all scents … potporri, deodorizers, pet smells, tobacco, foods and spices, etc. …  should be eliminated from a home during its sale and showings.  Fresh and clean is always best. 

     Why?  Odors, scents, and smells can prevent some potential Buyers from viewing your home.  If sensitive to smells, Buyers can be driven from a home quickly or actually be kept from even entering a home.  Simply … smells can trigger all sorts of reactions, both physical and mental.  So it’s best to avoid them.

     But if you’re presently hoping to buy a home, have you considered the outdoor smells and air-quality of a potential home purchase?  Nearby factories, restaurants, farms, heavily-traveled roads … a host of things at and surrounding a property can also produce “smells”.
    

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     Having grown-up in a more rural town, I can tell you … smells and odors coming can travel long distances.  Giving consideration to what types of properties and businesses also surround your potential home purchase is just wise.

     I’d recommend driving the neighborhoods and surrounding areas of a home you’re considering for purchase a few different times.  And at differing times of the day.  

     Give special consideration to those times that you would typically be at home, might be outside, or opening your windows. Do some investigative work.  

     Take deep breaths.  Do you smell anything?  From which direction is the smell coming?  It is something that smells good or bad to you?  Could you live with it on a daily or frequent basis? 

     Beyond the types of properties mentioned above that can be odor producing … stop and think about other odor-producing activities and elements.  What are the local municipality’s laws, rules, and regulations governing them?

     Also:  If a property you’re considering is located near the border of a municipality, find out if the the connecting municipality allow activities that yours does not?  Think about burning of leaves and property refuse.  Nearby businesses.  More.

     Currently, a very popular feature for homes is outdoor living areas.  Those areas can contain firepits, chiminaria, or fireplaces.  Will the smells (and smoke) coming from those on your property or nearby property be or become an issue for you?

     The reality is:  Smells are everywhere.  They travel long distances.  They can be good and they can be bad.  

     And remember:  There’s much more to contemplate then  the physical construction of a home … or its visual appeal.  If you’re hoping to buy, take the time to recognize ALL the features of a home.  Inside and out.  

     Stop, recognize, and consider what you’ll be breathing in and smelling at any given property too.  Then you’ll be able to make an informed and educated decision regarding buying that property …

     Enjoy the video and song!

 
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     *  Hoping to Buy, Build, or Refinance a home in a Lincoln-Way Community, Will County, or elsewhere in the Chicago-areaContact 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 or Text:  708.921.6331
eFax:  815.524.2281
Click HERE for your FREE Mortgage Consultation!
Ready to Apply for your Mortgage?
https://1609956119.secure-loancenter.com/WebApp/FullAppLogin.aspx
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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

 

What are the Requirements to Qualify for a Home Loan Today?

What are the Requirements to Qualify 
for a Home Loan Today?    
https://1609956119.secure-loancenter.com/FreeConsult.aspx     Frequently I hear the question …       “What are the requirements to qualify for a home loan today”?     To answer that, I’m first going to list what are considered as foundation requirements for current mortgage loans.  When I say “foundation”, I mean that they are the basic requirements that must typically be met by those seeking financing.  

     The most basic and frequently seen requirements (the foundation of most mortgage approvals) are as follows:

  • Credit:  Middle FICO Scores are used to determine eligibility.  

       MOST standards are:

       Conventional:  620 FICO Score or higher
       FHA:  640 FICO Score or higher.  In some cases, the scores utilized can be as low as 580 to 640 
       VA:  620 FICO Score or higher.  Again, in some cases I have options from 580 to 620 FICO Score available for Veterans
       USDA:  620 FICO Score or higher

  • Employment/Income: *  

       Stable, sustainable employment needed.  Usually a minimum of a 2-Year job history required, unless applicant took their (first) job out of college.  Then education can count towards job history.

      Other types of income can also qualify, such as proven Child Support, Social Security, Pensions, Disability, Income from investments, Self-Employment, and etc.

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  • Down Payment:  

       *  Your Down Payment does NOT have to be 20%.  Let me stress this important point again …  

      You do NOT have to put 20% down on your home purchase.  Financing options exist for those making lower down payments!
 
       No Money Down options (0% Down) still DO exist.  VA and USDA-RD loans are examples of this fact
       3.5% Down Payment – FHA Loans feature this Downpayment requirement
       *  5% or More – Conventional Loans are available for these levels of Down Payment
      *  Mortgage Insurance Programs – These loan programs allow for transactions with 5% to 19.99% Down Payment 

  • Debt-to-Income Ratios: 

      New “Ability to Repay” Guidelines, effective 1/10/2014, require all recurring debt (Mortgage, Car Loans, Student Loans, Credit Cards) to be at or under 43% of Gross Monthly Income.    
       
       Note:  Exceptions can be made regarding this requirement.  The Debt-To-Income Ratios can be greater than 43% for those qualifying Borrowers with: 

  • Good credit 
  • Additional assets (reserves) 
  • Good job histories
  • and for those that RECEIVE APPROVAL IN AUTOMATED UNDERWRITING SYSTEMS FOR THAT SCENARIO

     Knowing and working with the requirements shown above should take much of the guesswork out of the question … “What are the requirements to qualify for a home loan today”?

     But as always, to discover and clearly define what requirements are specific to your personal financial scenario, you need to contact me and talk in depth.  Only through a thorough examination of all the facts, can we answer the questions you have and ultimately reach a conclusion regarding your financing and abilities to buy.

  http://www.genemundt.com/ContactUs.aspx

     
     *  To start investigating your current options, contact me.   I’ll be happy to answer your questions and assist you with your Chicago area financing needs.

Direct: 
Cell or Text: 
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Click HERE for your FREE Mortgage Consultation!
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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