🎉 Idaho Jumbo Lender | Jared Frothinger

Choosing the right mortgage plan for your financial goals can be a complex decision, but Jared Frothinger at Genesis Capital is here to simplify the process and ensure you select a mortgage plan that fits your needs in Idaho.

• Assess Your Financial Situation: Jared will begin by evaluating your financial status, including your credit score, income, savings, and debt-to-income ratio. These factors are critical in determining which mortgage products are available to you and which offer the most favorable terms. With a strong credit score and healthy financial profile, you’ll have access to more loan options.
• Identify Your Homeownership Goals: Whether you are a first-time homebuyer, looking to refinance, or purchasing an investment property, Jared will work with you to clarify your goals. For buyers seeking stability, a fixed-rate mortgage is often the best choice. However, if you’re planning to sell or refinance within a few years, an adjustable-rate mortgage (ARM) may offer lower initial payments.
• Compare Loan Products: Genesis Capital offers a variety of loan products, including conventional loans, FHA loans, VA loans, and jumbo loans. Idaho’s real estate market may require specific loans like jumbo loans for high-value properties. If you’re looking for a lower down payment option, FHA loans are available. Jared will guide you through the benefits and drawbacks of each, ensuring you make an informed decision.
• Choose the Right Loan Term: Loan terms, such as 15-year or 30-year mortgages, greatly affect your monthly payments and the total interest paid over the life of the loan. Jared will help you understand the trade-offs between shorter loan terms with higher payments but lower overall costs, versus longer terms with more manageable payments but higher interest over time.
• Consider Additional Costs: Besides your mortgage payment, there are additional costs like property taxes, homeowner’s insurance, and private mortgage insurance (PMI) if your down payment is below 20%. Jared will ensure you fully understand all associated costs, so you can plan accordingly.

For expert advice on selecting the best mortgage plan for your needs in Idaho, contact Jared Frothinger at (208) 530-3313.

Improving your credit score is essential for securing the best mortgage rates, and Jared Frothinger at Genesis Capital can guide you through steps to boost your score before applying for a mortgage in Idaho. By utilizing Middle Credit Score®, you can ensure that your credit profile is in its best shape.

1. Review Your Credit Report
   Begin by reviewing your credit report from the three major credit bureaus—Equifax, Experian, and TransUnion. Jared will help you examine the report for any inaccuracies that may negatively affect your score. Middle Credit Score® offers a thorough credit report analysis, helping you identify errors that need to be addressed.
2. Dispute Credit Report Errors
   Errors on your credit report, such as incorrect late payments or outdated account balances, can significantly lower your score. Middle Credit Score® provides tools to help you dispute these inaccuracies with the credit bureaus. Jared will guide you through the dispute process to ensure your credit report accurately reflects your financial standing.
3. Pay Down Existing Debts
   One of the most effective ways to improve your credit score is by paying down outstanding debts, particularly high-interest credit card balances. Lowering your credit utilization ratio (the amount of credit you’re using relative to your total credit limit) can boost your score. Jared will help you create a strategy for paying down debt, while Middle Credit Score® can offer tailored debt repayment plans to help increase your credit score.
4. Avoid Opening New Lines of Credit
   Avoid applying for new credit cards or loans in the months leading up to your mortgage application. Each inquiry can temporarily lower your score, and new accounts may raise your debt-to-income ratio. Middle Credit Score® recommends keeping your credit profile stable during this period to improve your chances of getting a better mortgage rate.
5. Make Timely Payments
   Your payment history plays a significant role in your credit score. It’s crucial to make on-time payments for 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, such as late payments or collections, on your credit report, addressing them is key to improving your score. Middle Credit Score® can assist you in negotiating with creditors to resolve these issues, which may lead to the removal of negative marks and a boost in your credit score over time.

By following these steps and using Middle Credit Score®, you can position yourself for better mortgage terms. For more advice, contact Jared Frothinger at (208) 530-3313.

Yes, whether you are looking to refinance your mortgage or make a new home purchase, Jared Frothinger at Genesis Capital can guide you through both processes in Idaho.

Home Purchase with Jared Frothinger at Genesis Capital

• Pre-Qualification and Pre-Approval: The first step in buying a home is securing pre-qualification or pre-approval for a mortgage. Pre-qualification provides an estimate of how much you can borrow, while pre-approval offers a more detailed analysis of your financials, making you a more competitive buyer. Jared will guide you through both steps, ensuring you’re ready to make a strong offer when you find the right home.
• Choosing the Right Loan Product: Genesis Capital offers a variety of mortgage options, including conventional loans, FHA loans, VA loans, and jumbo loans. Jumbo loans may be particularly useful for high-value properties in Idaho. FHA loans provide flexibility for buyers with smaller down payments. Jared will work with you to find the loan that best suits your financial needs.
• Securing Competitive Interest Rates: Your interest rate significantly affects your monthly payments and the total cost of your loan. Jared will monitor the market and work to secure the lowest possible rate for your mortgage, ensuring your payments remain manageable over the life of the loan.
• Step-by-Step Guidance: From the initial application to closing, Jared will provide personalized guidance at each stage of the homebuying process, ensuring that you understand every step and feel confident in your decisions.

Refinancing with Jared Frothinger at Genesis Capital

• Lower Your Interest Rate: Refinancing is a smart option if current interest rates are lower than when you initially financed your mortgage. Jared will review your current loan terms and help determine if refinancing can save you money on monthly payments and over the life of the loan.
• Cash-Out Refinancing: If you’ve built up equity in your home, cash-out refinancing allows you to borrow against that equity to fund major expenses, such as home renovations, education, or debt consolidation. Jared will guide you through the process and help you decide if cash-out refinancing fits your financial goals.
• Shorten Your Loan Term: Refinancing can also allow you to shorten the term of your mortgage. By switching from a 30-year loan to a 15-year loan, for example, you can pay off your home faster and save on interest. Jared will help you determine if this option fits your budget and long-term goals.

For assistance with refinancing or purchasing a home, contact Jared Frothinger at (208) 530-3313 to explore your mortgage options.

When applying for a mortgage with Jared Frothinger at Genesis Capital, having the necessary documents prepared will ensure a smooth application process. Here’s a list of 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: Jared 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 Jared can calculate your debt-to-income ratio.
• Proof of Assets:
  • Bank Statements: Provide the last two months of bank statements to verify available 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, provide statements showing available balances.
• Proof of Employment:
  • Verification of Employment: Jared may contact your employer to verify your employment status. If you are self-employed, you will need to provide additional documentation, such as business licenses or profit and loss statements.

Loan Program-Specific Documents

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

• Conventional Loans: These loans typically require extensive documentation of your income and assets.
• FHA Loans: FHA loans may require additional documents to verify eligibility, especially for buyers 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: USDA loans for rural properties may require proof that the property meets USDA guidelines.

By gathering these documents ahead of time, you can ensure a streamlined application process with Jared Frothinger at Genesis Capital. To get started, contact Jared at (208) 530-3313.