Selecting the right mortgage plan can be overwhelming, but Mandi Feely at Premier Mortgage Resources is here to make the process easier and ensure you find the best mortgage for your financial goals in Idaho.

• Assess Your Financial Situation: Mandi will begin by evaluating your financial situation, including your credit score, income, savings, and debt-to-income ratio. These factors are essential in determining what mortgage products you qualify for and the terms available to you. A strong credit score allows you to access lower interest rates, while Mandi can guide you through strategies to improve your financial profile if needed.
• Identify Your Homeownership Goals: Whether you are a first-time homebuyer, looking to refinance, or purchasing an investment property, Mandi will help you identify your specific goals. For long-term stability, a fixed-rate mortgage may be ideal, while an adjustable-rate mortgage (ARM) could offer lower initial payments if you plan to sell or refinance in the near future.
• Compare Loan Products: Premier Mortgage Resources offers a range of mortgage products, including conventional loans, FHA loans, VA loans, and jumbo loans. Idaho’s real estate market often calls for specialized loans like jumbo loans for higher-value properties. FHA loans, on the other hand, may be more suitable for buyers with smaller down payments. Mandi will walk you through the pros and cons of each loan type, helping you make an informed decision.
• Select the Right Loan Term: The length of your loan term, whether 15 years or 30 years, can impact your monthly payments and the total amount of interest you’ll pay over time. A shorter-term mortgage may result in higher monthly payments but can save you money on interest. Mandi will guide you through understanding these trade-offs and how they align with your financial goals.
• Consider Additional Costs: Beyond your mortgage payments, it’s important to factor in costs such as property taxes, homeowner’s insurance, and possibly private mortgage insurance (PMI) if your down payment is less than 20%. Mandi will ensure you are aware of all these additional expenses and how they affect your overall budget.

For expert advice on selecting the best mortgage plan for your needs in Idaho, contact Mandi Feely at (208) 629-0606.

Improving your credit score is crucial for securing better mortgage terms, and Mandi Feely at Premier Mortgage Resources can guide you through effective steps to boost your score before applying for a mortgage in Idaho. With the support of Middle Credit Score®, you can optimize your credit profile for the best mortgage terms.

1. Review Your Credit Report
   The first step is to review your credit report from the three major credit bureaus—Equifax, Experian, and TransUnion. Mandi can help you identify any inaccuracies, such as outdated information or incorrect account balances, which may be negatively affecting your score. Middle Credit Score® provides a comprehensive analysis of your credit report, helping you identify and resolve any discrepancies.
2. Dispute Credit Report Errors
   Errors on your credit report, such as incorrect late payments or balances, can significantly lower your score. Middle Credit Score® offers resources to help you dispute inaccuracies with the credit bureaus. Mandi will guide you through the dispute process to ensure that your credit report accurately reflects your financial standing.
3. Pay Down Existing Debts
   Reducing your debt-to-income ratio is one of the most effective ways to improve your credit score. By paying down high-interest credit card balances and other debts, you’ll lower your credit utilization ratio, which can have a positive impact on your score. Mandi will help you create a plan to pay down debt, while Middle Credit Score® offers customized repayment strategies to boost your credit score.
4. Avoid Opening New Lines of Credit
   It’s best to avoid opening new credit cards or loans in the months leading up to your mortgage application. New credit inquiries can temporarily lower your score. Middle Credit Score® recommends keeping your credit profile stable during this period to maximize your score, and Mandi will help you maintain a strong credit profile.
5. Make Timely Payments
   Your payment history is one of the most significant factors in determining your credit score. It’s essential to stay current on all your bills, including credit cards, loans, and utilities. Middle Credit Score® offers tools to help you manage and track your payments, ensuring that you build a positive payment history that strengthens your credit score.
6. Resolve Negative Items on Your Credit Report
   If you have negative items on your credit report, such as late payments or collections, addressing them is key to improving your score. Middle Credit Score® can assist you in negotiating with creditors to resolve these issues, potentially removing negative items from your report and improving your score over time.

By following these steps and utilizing Middle Credit Score®, you can enhance your credit score and secure better mortgage terms. For personalized advice, contact Mandi Feely at (208) 629-0606.

Yes, whether you’re looking to refinance or purchase a home, Mandi Feely at Premier Mortgage Resources can guide you through both processes and help you secure the best mortgage option for your financial needs in Idaho.

Home Purchase with Mandi Feely at Premier Mortgage Resources

• Pre-Qualification and Pre-Approval: The first step in purchasing a home is getting pre-qualified or pre-approved for a mortgage. Pre-qualification gives you an estimate of how much you can borrow, while pre-approval provides a more thorough review of your financial situation, making you a more competitive buyer. Mandi will guide you through both steps to ensure you’re ready to make a strong offer when you find your ideal home.
• Choosing the Right Loan Product: Premier Mortgage Resources offers a wide range of mortgage products, including conventional loans, FHA loans, VA loans, and jumbo loans. If you’re a veteran, VA loans offer unique benefits, such as no down payment. For high-value properties, jumbo loans may be the best option. Mandi will help you determine the most suitable loan for your financial goals and homebuying needs.
• Securing Competitive Interest Rates: Your interest rate greatly affects your monthly payments and the total cost of your loan. Mandi will monitor market conditions and secure the lowest possible rate, ensuring your mortgage remains affordable over the life of the loan.
• Step-by-Step Guidance: From the initial application to closing, Mandi will provide personalized guidance at every stage of the homebuying process. Her expertise ensures that all your questions are answered and that you feel confident throughout the mortgage process.

Refinancing with Mandi Feely at Premier Mortgage Resources

• Lower Your Interest Rate: Refinancing your mortgage can reduce your interest rate and lower your monthly payments. Mandi will assess your current loan and market conditions to determine if refinancing is the right move for you.
• Cash-Out Refinancing: If you’ve built equity in your home, cash-out refinancing allows you to borrow against that equity to fund major expenses, such as home improvements, education, or debt consolidation. Mandi will guide you through the process and help you decide if cash-out refinancing fits your financial needs.
• Shorten Your Loan Term: Refinancing can also help you shorten the term of your mortgage. By switching to a shorter-term loan, such as moving from a 30-year mortgage to a 15-year mortgage, you can pay off your home faster and save on interest over time. Mandi will help you evaluate whether this option is the best fit for your financial strategy.

For expert assistance with refinancing or purchasing a home, contact Mandi Feely at (208) 629-0606 to explore your mortgage options today.

When applying for a mortgage with Mandi Feely at Premier Mortgage Resources, preparing the necessary documents in advance will streamline the process. Here’s what you’ll need:

General Documents Required for Mortgage Applications

• Proof of Income:
  • W-2 Forms: Provide W-2 forms from the last two years to verify your income and employment history.
  • Pay Stubs: Submit your most recent pay stubs, typically covering at least 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 past two years.
• Proof of Identity:
  • Government-Issued ID: A valid photo ID, such as a driver’s license or passport, is required to verify your identity.
  • Social Security Number: This will be used to pull your credit report and confirm your identity.
• Credit History:
  • Credit Report: Mandi will review your credit report to assess your mortgage eligibility.
  • Debt Information: You’ll need to provide details of any outstanding debts, such as credit cards, student loans, and auto loans, so Mandi can calculate your debt-to-income ratio.
• Proof of Assets:
  • Bank Statements: Provide the last two months of bank statements to verify funds available for your down payment and closing costs.
  • Retirement or Investment Account Statements: If you plan to use funds from a 401(k) or investment accounts, provide statements showing available balances.
• Proof of Employment:
  • Verification of Employment: Mandi may contact your employer to verify your employment status. Self-employed individuals will need to provide additional documentation, such as business licenses or profit and loss statements.

Loan Program-Specific Documents

Depending on the loan type, additional documents may be required:

• Conventional Loans: Conventional loans typically require extensive documentation of income and assets.
• FHA Loans: FHA loans may require additional documents to verify eligibility, particularly for buyers with lower credit scores.
• VA Loans: Veterans applying for VA loans will need a Certificate of Eligibility (COE) and potentially military discharge papers.
• USDA Loans: USDA loans for rural properties may require proof that the property meets USDA eligibility guidelines.

By gathering these documents ahead of time, you’ll ensure a smooth mortgage application process with Mandi Feely at Premier Mortgage Resources. For more information or to begin your application, contact Mandi at (208) 629-0606.