Gene Mundt, Il/WI mortgage originator teaches us about the importance of building our own credit history. New Freddie Mac Guidelines Regarding Credit History, Authorized Users and Mortgage Approval Recently, Freddie Mac updated their underwriting guidelines, via its “Bulletin” from September 19, 2018 … One of the key points documented in this Freddie Mac Bulletin related to Credit Reporting […]
If you are considering buying a Los Angeles home, Gene Mundt, an Illinois and Wisconsin mortgage originator provides an in-depth overview of how mortgage credit scoring works. Myth-Busting Mortgage Credit Scoring Over the years, Mortgage Credit Scoring has evolved. It continues to do so at a fairly constant and rapid rate … As a result,
How Does Mortgage Credit Scoring Work? Read More »
If you’ve done much research regarding mortgage financing, you’ve probably heard the term “Private Mortgage Insurance” … You may have also heard that Private Mortgage Insurance is scary or should be avoided. But in reality, in the right situations … it can be the solution to your home buying and financing challenges. What do I mean? Let me start by explaining
No Need to Fear the Topic of Private Mortgage Insurance if you Know the Facts Read More »
Gene Mundt, Chicagoland Mortgage Originator provides hope for those with student loans considering buying a home. Do you …Want to buy a home? Have Student Loan debt? If you answered “Yes” to the questions above, it’s important for you to know that contrary to what is commonly seen and believed, it is possible to buy
Have Student Loans? Think you Can’t Buy a Home? WRONG! Read More »
Gene Mundt is a Chicago Mortgage Lender who is an excellent source for all things mortgage-related. Here is another gem from him: Although the term “PMI” … Private Mortgage Insurance … is seen and heard frequently, there remains a shroud of mystery surrounding it … When I first speak with potential Chicagoland – IL/WI Borrowers, they sometimes have a negative
The Pros and Cons of Private Mortgage Insurance (PMI) Read More »
It doesn’t take a time traveler to appreciate the fact some folks are just inherently going to have a problem with paying today for something that won’t come due until tomorrow. Especially when that something is perhaps ill-explained and/or part of a complex real estate transaction. Even with the rollout of the CFPB’s new disclosure forms, the Loan Estimate (LE) and the Closing Disclosure (CD), consumers will likely still proffer some age-old questions about at least one component of a mortgage loan’s cost structure. So let’s hop in our DeLorean and venture to find out what is prepaid interest?
Back to the Future – Prepaid Interest Explained Read More »
Credit … Credit Scores … they’re a big issue, no matter someone’s age. But for Millennial-age hopeful home buyers, credit-related issues are of particular interest and importance these days. I’ll add they may be a bit frustrating too …Millenial home buyers should quickly establish credit. It’s been very well-documented: The job market and financial problems have dogged Millennials. As a result, many have poor credit. Or have avoided accumulating debt entirely.
Millennials: How to Establish Credit Quickly and Easily Read More »
Inside Mortgage Finance News reported on October 28, 2014 … “Total mortgage-related complaints filed by borrowers with the Consumer Financial Protection Bureau fell again in the third quarter of 2014 – the fifth drop in the last six quarters, according to figures compiled by Inside the CFPB. Data contained in the CFPB’s consumer complaint
How to Make Your First Mortgage Payment Read More »
Should I Pray or Should I Co? I tend to see a fair amount of high loan-to-value mortgage scenarios, mostly because real estate values here in Marin County, the San Francisco Bay Area and coastal California, in general, tend to be high. And I think it also has a lot to do with the formidable task
Using Gift Funds or a Co-Signer to Help With Your Mortgage Read More »
A large percentage of the potential home-buyers I speak to have a basic knowledge of how credit scores influence the interest rate received when they finance their home purchase. Most understand the basic principal: The higher their credit scores, the lower their interest rate. I read a CNBC article today entitled, “How poor credit costs
The Many Ways Poor Credit Scores Cost You Read More »
