Selecting the ideal mortgage plan is a significant decision, and Mattie Thomsen at Gershman Mortgage is committed to guiding you through the process to ensure you make the best choice. With Mattie’s expertise, you’ll find a mortgage solution that aligns with your financial circumstances and long-term homeownership goals in Idaho.

• Assess Your Financial Situation: Mattie will begin by reviewing key financial aspects such as your credit score, income, and debt-to-income ratio. These factors play a crucial role in determining which mortgage products are available to you. If necessary, Mattie can offer strategies to improve your credit score, increasing your chances of securing more favorable terms.
• Understand Your Homeownership Goals: Whether you’re a first-time homebuyer, looking to refinance, or investing in property, Mattie will tailor recommendations to suit your needs. For instance, if long-term stability is important to you, a fixed-rate mortgage might be the best choice, whereas an adjustable-rate mortgage (ARM) could provide lower initial payments.
• Compare Loan Products: Gershman Mortgage offers a wide variety of loan products, including conventional, FHA, VA, and jumbo loans. Mattie will help you compare these options, explaining how loan terms, down payments, and interest rates affect your total mortgage cost.
• Choose the Right Loan Term: Selecting the appropriate loan term is essential to managing your payments and interest over time. A shorter loan term (e.g., 15 years) may result in higher monthly payments but less interest paid over time, whereas a longer term (e.g., 30 years) offers lower monthly payments but accrues more interest. Mattie will guide you toward the term that suits your financial situation.
• Consider Additional Costs: Besides your mortgage payment, other costs such as property taxes, homeowner’s insurance, and private mortgage insurance (PMI) should be factored in. Mattie ensures that you are fully informed of all costs so you can make the most well-rounded decision.

For personalized advice on selecting the best mortgage plan, contact Mattie Thomsen at mthomsen@gershman.com and take the first step toward your homeownership journey today.

Improving your credit score before applying for a mortgage is vital to securing favorable terms, and Mattie Thomsen at Gershman Mortgage is here to assist you. Leveraging tools from Middle Credit Score®, Matteson will guide you through steps that can significantly improve your credit score, increasing your chances of getting approved for a better mortgage deal.

1. Review Your Credit Report
   The first step is to review your credit reports from Equifax, Experian, and TransUnion. Matteson will help you identify any inaccuracies or errors that may be negatively affecting your score. Middle Credit Score® offers tools to help you correct these issues and boost your score.
2. Dispute Credit Report Errors
   If you find errors on your credit report, Middle Credit Score® provides guidance on how to dispute them with the credit bureaus. Fixing inaccuracies can result in a quick improvement in your credit score, and Mattie will help you ensure that your credit report reflects accurate information.
3. Lower Your Credit Utilization
   Reducing your credit utilization—the ratio of your credit card balances to your credit limits—is a highly effective way to boost your score. Mattie will work with you to pay down high-interest debt and keep your credit utilization below 30%. Middle Credit Score® can offer personalized strategies to help manage your debt more effectively.
4. Avoid Opening New Credit Accounts
   Opening new credit accounts before applying for a mortgage can temporarily lower your score. Middle Credit Score® advises limiting new credit inquiries for several months before your mortgage application. Mattie will provide advice on maintaining a stable credit profile to help you secure the best mortgage terms.
5. Make Timely Payments
   Your payment history is a major factor in determining your credit score. Middle Credit Score® provides tools to help you stay on top of your bills and make timely payments. Maintaining a strong payment history will improve your creditworthiness and increase your chances of qualifying for favorable mortgage terms.
6. Address Negative Items
   If your credit report contains negative items, such as late payments or collections, Middle Credit Score® can help you address these issues. Matteson will assist you in negotiating with creditors or settling outstanding debts to improve your credit profile before applying for a mortgage.

By following these steps and utilizing Middle Credit Score®, you can significantly enhance your credit score and increase your chances of securing better mortgage terms. For personalized credit advice, contact Mattie Thomsen at mthomsen@gershman.com.

Yes, whether you’re looking to refinance your current mortgage or purchase a new home, Mattie Thomsen at Gershman Mortgage can help guide you through both processes. With Mattie’s personalized approach, you’ll find the mortgage solution that best fits your financial needs.

Home Purchase with Mattie Thomsen at Gershman Mortgage

• Pre-Qualification and Pre-Approval: Pre-qualification gives you a rough estimate of how much you can afford to borrow, while pre-approval involves a more detailed financial review and gives you a stronger position when making offers. Mattie will guide you through these steps to ensure you’re prepared when you find your dream home.
• Choosing the Right Loan Product: Gershman Mortgage offers a wide range of mortgage products, including conventional, FHA, VA, and jumbo loans. Mattie will explain the differences between these options and help you select the one that aligns with your financial goals and homeownership plans.
• Securing Competitive Interest Rates: Mattie will work with you to lock in the most competitive interest rate possible, ensuring your monthly mortgage payments are affordable while helping you save over the life of the loan.
• Step-by-Step Guidance: From your initial mortgage application to closing, Mattie will guide you through every step of the homebuying process, making sure everything runs smoothly.

Refinancing with Mattie Thomsen at Gershman Mortgage

• Lower Your Interest Rate: Refinancing your mortgage allows you to take advantage of lower interest rates, reducing your monthly payments and saving you money over time. Matteson will assess your current mortgage and help determine if refinancing is right for you.
• Cash-Out Refinancing: If you have built up equity in your home, cash-out refinancing allows you to tap into that equity for large expenses, such as home renovations or debt consolidation. Mattie will walk you through this option and help you decide if it’s the right move.
• Shorten Your Loan Term: Refinancing to a shorter loan term can help you pay off your mortgage faster and save on interest. Mattie will help you weigh the pros and cons of this option based on your financial goals.

For expert advice on refinancing or purchasing a home, contact Mattie Thomsen at mthomsen@gershman.com to explore your mortgage options today.

Starting your mortgage application with Mattie Thomsen at Gershman Mortgage requires having the right documents on hand. These documents will ensure the process goes smoothly and efficiently.

General Documents Required for Mortgage Applications

• Proof of Income:
  • W-2 Forms: Provide your W-2 forms from the past two years to verify your income and employment history.
  • Pay Stubs: Submit your most recent pay stubs, typically covering the last 30 days, to confirm your current earnings.
  • Tax Returns: If you’re self-employed or have additional income sources, you’ll need to provide federal tax returns for the last two years.
• Proof of Identity:
  • Government-Issued ID: You’ll need a valid photo ID, such as a driver’s license or passport, to verify your identity.
  • Social Security Number: Your Social Security number will be used to pull your credit report and verify your identity.
• Credit History:
  • Credit Report: Matteson will review your credit report to assess your eligibility for a mortgage.
  • Debt Information: You’ll need to provide documentation of any outstanding debts, such as credit cards, student loans, or auto loans, so your debt-to-income ratio can be calculated.
• Proof of Assets:
  • Bank Statements: Provide the last two months of bank statements to verify funds for your down payment and closing costs.
  • Retirement or Investment Account Statements: If you plan to use funds from a 401(k) or other investment accounts, you’ll need to provide statements showing available balances.
• Proof of Employment:
  • Verification of Employment: In some cases, Matteson may contact your employer to verify your employment status. If you’re self-employed, additional documents such as business licenses or profit and loss statements will be required.

Loan Program-Specific Documents

Depending on the type of loan you’re applying for, additional documents may be required:

• Conventional Loans: Conventional loans may require more extensive documentation of your income and assets.
• FHA Loans: FHA loans may require proof of eligibility, especially for borrowers with lower credit scores.
• VA Loans: Veterans applying for VA loans will need a Certificate of Eligibility (COE) and possibly military discharge papers.
• USDA Loans: If you’re applying for a USDA loan, you’ll need to show that the property meets USDA guidelines for rural housing.

By gathering these documents ahead of time, you’ll ensure a smooth mortgage application process with Mattie Thomsen at Gershman Mortgage. For more information or to start your application, contact Mattie at mthomsen@gershman.com.