Okay ... you've made the big decision. You're not buying a house ... now.
After taking all things into consideration, you've decided that buying a home is just not in the card
s or right for you at this time.
Now what?
My answer is the same for you, as it is for someone that has come to the opposite conclusion regarding buying.
Contact a professional lender!
Why? Because if you ever hope to buy a home in the future, you should not procrastinate or waste time that could be put to valuable use! NOW is the perfect time to start planning for that future home purchase.
And that planning and preparation should start, whether buying now or later, with having your credit checked. It can take time to correct or raise credit issues and scores. By taking this simple step now, well in advance of your home purchase, you make your home buying and mortgage processing so much easier an
d fluid in the future. You also open up a wider range of possibilities for that lending when you have accomplished your best finances and credit scores possible.
It really boils down to this: Work now. Save big later.
During my years of lending experience, I have found that buyers make the decision to buy a home based much on their housing needs, wants, and desires. Owning a home is a strong longing for us.
And Yes! To a huge part, buying a home IS and should be an emotional decision. It IS part of the American Dream. The home and family IS what most Americans based their lives around. But never forget, buying a home is a monetary decision. A HUGE one, at that. And buying needs to be done with many thoughts in mind, one of which is TIMING.
But the actual starting point for purchase is often severely misjudged. The TIMING is wrong, or many start the planning process much later than they should. Potential home buyers are then poorly prepared for what lies ahead of them during the mortgage process. They expose themselves to problems during that processing because of it.
Much has been written about how awful the current mortgage process has become. And I will agree, there are frustrations aplenty to be found for all involved. But many of the problems that home buyers face during mortgage processing could be cured with two simple actions. They are?
- Preparation of finances and improvement of credit scores in advance of the home buying process
- Acceptance of the present-day process itself. Buyers need to be aware of the demands of mortgage processing in advance (when possible) and accept that they will need to present the documentation and information required by underwriters. The more quickly they comply, the easier the processing.
When a potential 
buyer is an educated buyer ... and has started the lending process with their professional lender well in advance of their actual purchase, they will have fewer issues to face when actual mortgage processing begins.
Documentation will be readily available, if and when needed, because the buyer knew of the possible requests ahead of time and planned accordingly. Compliance will be more easily accomplished. They will have smoothed their own path due to their own proactive planning and hard work with their lender.
So, I say ... If you ever hope to buy a home in the future, talk to a lender NOW. Find out if your credit is on the right track. Listen to your lender's financial and credit advice. Then take action to correct issues NOW ... or improve your FICO Scores even more.
Take the initiative NOW. Contact a professional lender TODAY. Work with your lender ... so you can save time and money later during the purchase of your dream home.
You may be surprised at how much closer you are to buying that home than you thought!
* And when in the Chicagoland area ... contact me, Gene Mundt, Chicago Bancorp, for the expert guidance and advice you need before and during your home buying and mortgage processing! For additional info, go to: www.genemundt.com
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
