So You Think SIZE Matters???
Okay ... Okay ... get your mind outta the gutter!
I'm talking about the SIZE of your mortgage!
Yesterday, I had to explain this important detail to yet another person involved within a mortgage transaction I am working on. This time, a seller.
Mistakenly, they thought because the amount of dollars being borrowed was a smaller amount, it meant mortgage processing would be simpler, faster. That not as many "hoops" would have to be jumped through.
Bzzzzzzzzzz! Wrong! SIZE ... in this case, does NOT matter.
Whether borrowing for a small amount mortgage or jumbo mortgage amount, the over-riding majority of the mortgage process will remain much the same. Perhaps a few details will change, but overall the same verifications, the same credit requirements, the same credit check, the same legal work, the same title work, the same procedures within mortgage process, the underwriting requirements needs ... ALL will be pretty-much remain the same, no matter the SIZE of the loan.
Nope. I'm sorry to say ... the same t's will have to be crossed. The same i's dotted. Mind boggling and a bit frustrating, I know ... but true. None of these procedures or processing actions are tied into the SIZE of your loan!
So get past all those old prejudices and rumors! Prepare yourself. Educate yourself regarding the realities of mortgage processing.
And how do you accomplish that?
Do your wise and thorough preliminary homework. Find and work with a professional mortgage lender that will assist and guide you from your initial fact-finding and mortgage/home buying inquiries and questions ... through to successful transaction closing, homeownership, and beyond. It's crucial to take the time to perform and accomplish this. It can save you big money and lots of aggrevation. THOSE are the measurements that should be important to you ...
* My mortgage lending measurements are: 35 years of mortgage industry experience and expertise. Over 20+ years of IL Licensed Real Estate Appraising to guide you and your agent through to a successful mortgage closing. Over 10 years of IL Certified Financial Planning with which to assist you during mortgage processing AND AFTER your mortgage transaction is closed.
Contact me now through any of the following means if hoping to buy in Chicagoland, Will, DuPage, or Kane County, Illinois, or across our nation. I'll be happy to hear from you ... and work with you to fulfill your dreams.
Direct: 815.277.4036 Cell/Text: 708.921.6331
Email: gene@chicagobancorp.com
Website: www.genemundt.com
Click Here 4 a: NO Cost NO Obligation Mortgage Consultation
Skype: 630.219.1316
Gene Mundt, Sr. Vice President
Personal NMLS #216987
The Federal Savings Bank
1823 Centre Point Circle, Naperville, IL 60563
Now on Skype! 630-219-1316
