🎉 Michigan Jumbo Lender | Sandra Frith

Choosing the best mortgage plan for your financial needs in Michigan is a significant decision. Sandra Frith at Fifth Third Bank can help guide you through the process with her personalized approach and expert advice:

• Evaluate Your Financial Situation: Sandra will begin by reviewing your current financial health, including your credit score, income, debt-to-income ratio, and savings. These elements are key in determining the types of mortgage plans that are available to you and the interest rates you qualify for.
• Identify Your Homeownership Goals: Whether you’re a first-time homebuyer, looking to refinance, or buying an investment property, Sandra will tailor her recommendations to your goals. For instance, if you’re looking for predictability, a fixed-rate mortgage may be the best option, offering consistent payments over time. If you expect to sell or refinance within a few years, an adjustable-rate mortgage (ARM) could offer lower initial rates and payments.
• Compare Loan Options: Fifth Third Bank offers a wide variety of mortgage options, including conventional loans, FHA loans, VA loans, and jumbo loans for high-value properties. Sandra will provide a clear comparison of each loan type, helping you understand how loan terms, interest rates, and down payments affect your monthly payments and the overall cost of the loan.
• Loan Terms: Choosing the right loan term—whether it’s a 15-, 20-, or 30-year loan—can have a major impact on your finances. Sandra will explain the pros and cons of shorter-term loans, which have higher monthly payments but less interest, compared to longer-term loans, which offer lower monthly payments but more interest over time.
• Consider Additional Costs: Sandra will also help you factor in other important expenses such as private mortgage insurance (PMI), property taxes, and homeowners insurance. Knowing these costs upfront will help you manage your budget and avoid surprises.

Working with Sandra Frith at Fifth Third Bank ensures that you’ll have a clear understanding of your options and can confidently choose the mortgage plan that fits your needs in Michigan. For personalized assistance, contact Sandra at (586) 749-8355 or email her at sandi.frith@53.com.

Improving your credit score before applying for a mortgage can significantly impact your ability to secure a better interest rate and more favorable loan terms. Sandra Frith at Fifth Third Bank offers these helpful steps to boost your credit score:

1. Review Your Credit Report
   Start by obtaining a copy of your credit report from the major credit bureaus—Equifax, Experian, and TransUnion. Sandra can assist you in reviewing your report for any inaccuracies or errors, such as outdated balances or incorrect late payment entries. Fixing these inaccuracies can quickly improve your credit score.
2. Dispute Inaccuracies
   If you find any discrepancies on your credit report, it’s essential to dispute them with the credit bureaus. Sandra can guide you through the process of correcting these errors, helping you to resolve issues that may be negatively impacting your credit score.
3. Pay Down Debt
   Your credit utilization ratio—the amount of credit you’re using compared to your total available credit—plays a major role in your credit score. Aim to keep this ratio under 30%. By paying down high-interest debt and reducing your credit balances, you can improve your credit score more rapidly.
4. Avoid Opening New Accounts
   Avoid applying for new credit cards or loans in the months leading up to your mortgage application. New credit inquiries can reduce your credit score slightly, and taking on more debt can increase your debt-to-income ratio. Sandra advises holding off on any new credit applications until after your mortgage is secured.
5. Make On-Time Payments
   Your payment history makes up a significant portion of your credit score. It’s important to pay all bills on time, including credit cards, utilities, and loans. Setting up automatic payments or reminders can help ensure that you don’t miss any due dates.
6. Resolve Negative Items
   If you have collections, charge-offs, or other negative items on your credit report, address them as soon as possible. Sandra can help you develop a plan to pay off outstanding balances, negotiate with creditors, or even have negative items removed from your report, boosting your score.

By following these steps, you can improve your credit score and position yourself for better mortgage terms. For personalized credit advice, contact Sandra Frith at Fifth Third Bank at (586) 749-8355 or email sandi.frith@53.com.

Yes, whether you’re looking to refinance your current mortgage or purchase a new home, Sandra Frith at Fifth Third Bank can help you find the right solution tailored to your financial situation.

Home Purchase with Sandra Frith at Fifth Third Bank

• Pre-Qualification and Pre-Approval: Sandra will help you get pre-qualified or pre-approved for a mortgage, which is the first step in the home-buying process. A pre-approval letter shows sellers that you are a serious buyer, giving you a competitive edge in the Michigan housing market.
• Explore Loan Options: Whether you’re looking for a conventional loan, FHA loan, VA loan, or jumbo loan, Sandra will guide you through the different options offered by Fifth Third Bank. She’ll help you choose the mortgage that best fits your homeownership goals and financial situation.
• Competitive Rates: Sandra works diligently to secure competitive interest rates, helping you save money over the life of your loan. She monitors the market to ensure you lock in a great rate when you’re ready to purchase your home.
• Personalized Guidance: Sandra will walk you through each step of the mortgage process, from application to closing, ensuring that everything is handled smoothly and efficiently.

Refinancing with Sandra Frith at Fifth Third Bank

• Lower Interest Rates: If current interest rates are lower than your existing mortgage rate, refinancing could reduce your monthly payments and save you money over time. Sandra will assess your current mortgage and let you know if refinancing is a beneficial option.
• Cash-Out Refinancing: If you have equity in your home, cash-out refinancing allows you to use that equity for large expenses like home renovations, education, or debt consolidation. Sandra will explain whether a cash-out refinance aligns with your financial goals.
• Shorten Your Loan Term: Refinancing to a shorter loan term can save you thousands of dollars in interest and help you pay off your mortgage sooner. Sandra can help you determine if this is the right choice for your situation.

For more information on refinancing or purchasing a home, contact Sandra Frith at Fifth Third Bank at (586) 749-8355 or email sandi.frith@53.com.

Being organized and prepared with the necessary documents will help ensure a smooth mortgage application process. When applying for a mortgage with Sandra Frith at Fifth Third Bank, you’ll need the following documents:

General Documents Required for Mortgage Applications

• Proof of Income:
  • W-2 Forms: Submit W-2 forms from the past two years to verify your income and employment history.
  • Pay Stubs: Provide recent pay stubs covering the last 30 days to confirm your current earnings.
  • Tax Returns: If you are self-employed or have other income sources, you may need to provide 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.
• Credit History:
  • Credit Report: Sandra will review your credit report and history 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.
• Proof of Assets:
  • Bank Statements: Provide bank statements from the last two months to verify your financial reserves for the down payment, closing costs, and reserves.
  • Retirement or Investment Account Statements: If you plan to use retirement or investment accounts for your down payment, submit statements to verify balances.
• Proof of Employment:
  • Employment Verification: In some cases, Fifth Third Bank may contact your employer to verify employment. Self-employed borrowers will need to provide additional documents such as profit and loss statements or business licenses.

Loan Program-Specific Documents

• Conventional Loans: These often require more detailed income and asset documentation.
• FHA Loans: FHA loans require specific documentation to prove eligibility, particularly for those with lower credit scores.
• VA Loans: Veterans will need a Certificate of Eligibility (COE) and possibly military discharge papers.
• USDA Loans: If applying for a USDA loan, you may need proof that the property is located in a USDA-eligible area.

Preparing these documents in advance will help streamline the mortgage process. For more assistance, contact Sandra Frith at Fifth Third Bank at (586) 749-8355 or email her at sandi.frith@53.com.