🎉 Michigan Mortgage Specialist | Joseph Bigelman

Selecting the right mortgage plan in Michigan can feel overwhelming with so many options available, but Joseph Bigelman at John Adams Mortgage simplifies the process by guiding you every step of the way:

• Assess Your Financial Situation: Joseph starts by reviewing your financial picture, including your credit score, income, savings, and debt-to-income ratio. These factors are key in determining which mortgage options are best suited to your specific needs and financial situation.
• Identify Your Homeownership Goals: Whether you’re a first-time homebuyer, upgrading to a larger home, or seeking to refinance, Joseph tailors his advice to match your goals. If you’re looking for stable, predictable payments, a fixed-rate mortgage might be ideal. However, if you’re looking for lower initial payments or plan to sell in a few years, an adjustable-rate mortgage (ARM) may suit your needs better.
• Explore Loan Products: At John Adams Mortgage, Joseph provides a variety of loan options, including conventional loans, FHA loans, VA loans, and jumbo loans for higher-priced properties. He will explain the pros and cons of each option, ensuring that you understand how factors like interest rates, loan terms, and down payments will affect your monthly payments and the total cost of the loan.
• Loan Terms: Choosing the right loan term—such as 15, 20, or 30 years—can impact your finances over time. Joseph will help you weigh the benefits of shorter-term loans, which offer lower interest rates but higher monthly payments, versus longer-term loans, which provide lower monthly payments but cost more in interest over time.
• Consider Additional Costs: Joseph also ensures that you are fully aware of other costs, such as property taxes, homeowners insurance, and private mortgage insurance (PMI), which can impact the overall affordability of your mortgage. He helps you plan for these expenses so there are no surprises.

With Joseph Bigelman at John Adams Mortgage, you receive personalized advice that takes the complexity out of selecting the best mortgage plan for your needs in Michigan. Contact Joseph today at 248-813-4925 or email jbigelman@johnadamsmortgage.com to get started.

Improving your credit score before applying for a mortgage is crucial for securing better loan terms and interest rates. Joseph Bigelman at John Adams Mortgage offers these practical steps to help you boost your credit score:

1. Review Your Credit Report
   Start by obtaining a copy of your credit report from the three major credit bureaus: Equifax, Experian, and TransUnion. Joseph can help you review the report for any inaccuracies or errors, such as outdated balances or incorrect late payments. Correcting these errors can give your score an immediate boost.
2. Dispute Inaccuracies
   If you find any errors on your credit report, it’s essential to dispute them promptly. Joseph can guide you through the process of submitting disputes to the credit bureaus, ensuring that any inaccuracies affecting your score are corrected.
3. Pay Down High Balances
   Your credit utilization ratio—the percentage of your available credit that you’re using—plays a major role in your credit score. Aim to keep your utilization below 30% by paying down high-interest credit card debt. Joseph recommends focusing on reducing these balances to improve your score before applying for a mortgage.
4. Avoid New Credit Inquiries
   Refrain from opening new credit card accounts or taking out new loans in the months leading up to your mortgage application. New credit inquiries can lower your score, and additional debt can increase your debt-to-income ratio, which may affect your eligibility for a mortgage.
5. Make On-Time Payments
   Payment history is a critical component of your credit score. Ensure that you pay all your bills on time, including credit cards, loans, and utilities. Joseph can help you set up payment reminders or automatic payments to ensure that you never miss a due date.
6. Address Negative Items
   If you have collections, charge-offs, or other negative items on your credit report, it’s important to address them as soon as possible. Joseph can provide guidance on negotiating with creditors or creating a repayment plan, which can help improve your credit score over time.

By following these steps, you can enhance your credit score and increase your chances of securing favorable mortgage terms. For personalized advice, contact Joseph Bigelman at John Adams Mortgage at 248-813-4925 or email jbigelman@johnadamsmortgage.com.

Yes, whether you’re looking to refinance or make a home purchase, Joseph Bigelman at John Adams Mortgage can guide you through either process with expertise and care.

Home Purchase with Joseph Bigelman at John Adams Mortgage

• Pre-Qualification and Pre-Approval: The first step in purchasing a home is obtaining pre-qualification or pre-approval for a mortgage. Joseph will review your financial situation, including your income, credit score, and debt, to determine how much you can afford to borrow. Getting pre-approved can strengthen your offers in a competitive housing market.
• Explore Loan Options: John Adams Mortgage offers a variety of loan programs, such as conventional loans, FHA loans, VA loans, and jumbo loans. Joseph will explain the benefits of each option and help you choose the one that best fits your financial goals.
• Competitive Interest Rates: Joseph works to secure competitive interest rates, helping you lock in the best rate available for your mortgage, saving you money over the life of the loan.
• Step-by-Step Guidance: Joseph will guide you through every step of the home-buying process, ensuring that you understand the application, underwriting, and closing processes.

Refinancing with Joseph Bigelman at John Adams Mortgage

• Lower Your Interest Rate: If current mortgage rates are lower than the rate on your existing loan, refinancing could help you lower your monthly payments. Joseph will assess your current mortgage to determine if refinancing is a beneficial option.
• Cash-Out Refinancing: If you’ve built up equity in your home, cash-out refinancing allows you to tap into that equity for major expenses, such as home improvements, education, or debt consolidation. Joseph will help you determine if this option aligns with your financial goals.
• Shorten Your Loan Term: Refinancing also allows you to change the term of your loan. For example, switching from a 30-year mortgage to a 15-year mortgage can help you pay off your home faster and save money on interest. Joseph will help you evaluate whether this option is right for you.

For more information about refinancing or purchasing a home, contact Joseph Bigelman at John Adams Mortgage at 248-813-4925 or via email at jbigelman@johnadamsmortgage.com.

Being prepared with the right documents will help streamline the mortgage application process. When working with Joseph Bigelman at John Adams Mortgage, 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 employment and income history.
  • Pay Stubs: Provide recent pay stubs covering at least the last 30 days to confirm your current earnings.
  • Tax Returns: If you are self-employed or have other sources of income, you may need to provide tax returns for the past two years.
• Proof of Identity:
  • Government-Issued ID: A valid 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: Joseph will review your credit report to assess your eligibility for a mortgage.
  • Debt Information: You’ll need to provide details of any outstanding debts, such as credit card balances, student loans, or car loans, to calculate your debt-to-income ratio.
• 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’re planning to use retirement funds or other investments for your down payment, you’ll need to submit statements verifying the funds.
• Proof of Employment:
  • Employment Verification: In some cases, John Adams Mortgage may contact your employer to verify your current employment status. Self-employed individuals will need to provide additional documents, such as profit and loss statements and business licenses.

Loan Program-Specific Documents

• Conventional Loans: These loans typically require more detailed income and asset documentation.
• FHA Loans: These loans may require additional documentation to verify eligibility, especially for borrowers with lower credit scores.
• VA Loans: Veterans will need to provide a Certificate of Eligibility (COE) and possibly military discharge papers.
• USDA Loans: These loans are designed for rural buyers and may require documentation that the property is in a USDA-eligible area.

Preparing these documents in advance will help ensure a smooth and efficient mortgage process. Contact Joseph Bigelman at John Adams Mortgage at 248-813-4925 or email jbigelman@johnadamsmortgage.com to get started.