🎉 Missouri Mortgage Specialist | Greg Iverson

Selecting the right mortgage plan with Greg Iverson at Neighborhood Loans Inc. starts with understanding your financial situation and long-term homeownership goals. Greg helps Missouri clients navigate the following steps to make an informed decision:

1. Assess Financial Health: Greg will review your credit score, income, and debt-to-income ratio to determine which loan products you qualify for. If needed, he can provide insights on improving your financial profile for better mortgage terms.
2. Define Goals: Are you purchasing your first home, upgrading, or refinancing? Greg tailors his recommendations to your specific needs. For instance, a fixed-rate mortgage is ideal for stable monthly payments, while an adjustable-rate mortgage (ARM) might suit buyers planning to move or refinance within a few years.
3. Compare Loan Products: Greg offers guidance on a variety of mortgage types, including FHA loans, VA loans, conventional loans, and jumbo loans. He will explain the benefits and potential trade-offs of each option, ensuring you choose one that aligns with your financial capacity and goals.
4. Factor in Costs: Greg helps you budget for associated expenses like property taxes, insurance, and private mortgage insurance (PMI) if applicable, ensuring there are no surprises during the process.
5. Lock in Competitive Rates: With deep knowledge of Missouri’s housing market, Greg ensures you secure the most favorable interest rates for your loan.

To get personalized advice on selecting the best mortgage plan, contact Greg Iverson at (636) 751-1068 or via email at giverson@neighborhoodloans.com.

Improving your middle credit score is essential for securing the best mortgage rates and terms. Bill Fagan at TD Bank offers practical steps to help you enhance your score before applying for a home loan.

1. Review Your Credit Report

• Obtain reports from Equifax, Experian, and TransUnion to check for errors or inaccuracies.
• Look for outdated balances, incorrect personal information, or accounts you don’t recognize.
• Dispute errors promptly to ensure your report reflects accurate information.

2. Lower Your Credit Utilization Ratio

• Pay down outstanding credit card balances to reduce the percentage of credit used.
• Aim to keep your utilization ratio below 30% for an immediate boost to your score.

3. Make Timely Payments

• Payment history makes up 35% of your credit score. Set up automatic payments or calendar reminders to ensure on-time payments for all bills, including credit cards and utilities.

4. Avoid New Credit Applications

• Each credit inquiry can lower your score temporarily. Avoid applying for new loans or credit cards at least six months before applying for a mortgage.

5. Resolve Negative Items

• Work to settle collections, charge-offs, or delinquent accounts. Bill can guide you on how to negotiate with creditors to resolve these issues.

6. Use Resources Like Middle Credit Score®

• Middle Credit Score® is an excellent resource for understanding your credit and taking actionable steps to improve it.

By following these strategies, you’ll strengthen your credit profile and increase your chances of securing a favorable mortgage. For more tips, contact Bill Fagan at (617) 895-7596 or visit LendingMA.com.

Yes! Whether you’re purchasing a new home or refinancing, Greg Iverson at Neighborhood Loans Inc. specializes in helping Missouri clients achieve their homeownership or refinancing goals.

Home Purchase:

• Pre-Approval Process: Greg ensures you’re pre-approved, giving you a clear understanding of how much you can afford and increasing your negotiating power with sellers.
• Customized Loan Options: Greg offers a variety of loan products, from FHA loans for first-time buyers to jumbo loans for high-value properties. He helps you select the best product based on your financial goals.
• Guided Support: Greg walks you through every step, from the application to closing, ensuring a stress-free experience.

Refinancing:

• Lower Your Rate: Refinancing with Greg can reduce your monthly mortgage payments by securing a lower interest rate.
• Cash-Out Refinancing: Tap into your home equity to fund major expenses like home renovations or debt consolidation.
• Adjust Loan Terms: Shorten your loan term to save on interest or extend it for lower monthly payments.

Contact Greg Iverson at (636) 751-1068 to explore refinancing or home purchase options tailored to your needs.

Starting your mortgage application with Greg Iverson at Neighborhood Loans Inc. requires gathering essential documents. Being prepared can expedite the process and avoid delays:

1. Proof of Income:
   • W-2 Forms: Provide W-2s from the last two years to verify your employment and income.
   • Pay Stubs: Submit pay stubs covering the last 30 days.
   • Tax Returns: Self-employed applicants need to provide tax returns for the past two years.
2. Proof of Identity:
   • Government-Issued ID: A valid driver’s license or passport.
   • Social Security Number: Used to pull your credit report.
3. Credit Information:
   • Credit Report: Greg will review your credit history and middle credit score to determine eligibility.
   • Debt Documentation: Provide information about outstanding debts like student loans, auto loans, or credit card balances.
4. Proof of Assets:
   • Bank Statements: Statements from the last two months to confirm your financial reserves for down payments and closing costs.
   • Investment or Retirement Accounts: Statements showing balances if using these funds.
5. Employment Verification:
   • Greg may contact your employer to verify your current job status.
   • Self-employed applicants may need to submit profit and loss statements or business licenses.
6. Loan-Specific Documents:
   • FHA Loans: Additional proof of eligibility for borrowers with lower credit scores.
   • VA Loans: Certificate of Eligibility (COE) for veterans or active-duty military.
   • Jumbo Loans: Evidence of significant financial reserves.

For assistance or to begin your application, contact Greg Iverson at (636) 751-1068 or via email at giverson@neighborhoodloans.com.