Selecting the Right Mortgage Plan with Stephanie Dombrowski at Ent Credit Union

Selecting the right mortgage plan is crucial to ensuring long-term financial stability. Stephanie Dombrowski at Ent Credit Union is here to help guide you through the process, offering personalized solutions tailored to your unique needs. Whether you’re buying a new home or refinancing, Stephanie provides expert advice on choosing the best mortgage product in Colorado.

Assess Your Financial Situation

The first step in choosing the best mortgage plan is evaluating your current financial health. Stephanie will help you review your credit score, income, debt-to-income ratio, and savings to determine the mortgage products you qualify for. A strong financial standing often allows borrowers to secure lower interest rates. If your credit needs improvement, Stephanie can help you explore strategies to boost it before applying.

Define Your Homeownership Goals

Your goals play a critical role in selecting the right mortgage. Whether you’re a first-time homebuyer or looking for an investment property, your future plans will help define the ideal mortgage product. For example:

• Fixed-Rate Mortgage: Ideal if you plan to stay in your home long-term, offering stability with consistent monthly payments.
• Adjustable-Rate Mortgage (ARM): A better fit if you plan to sell or refinance in a few years, due to lower initial rates.

Stephanie will take the time to understand your objectives and recommend the most suitable option.

Compare Mortgage Products

Ent Credit Union offers a wide range of mortgage products, including:

• Conventional Loans: Standard mortgages for borrowers with good credit.
• FHA Loans: Designed for buyers with lower down payments.
• VA Loans: Exclusive benefits for veterans, such as no down payment.
• Jumbo Loans: For high-value homes exceeding conventional loan limits.

Stephanie will help you compare these options and choose the one that aligns with your financial profile.

Consider Loan Terms and Interest Rates

A key decision in choosing a mortgage is selecting the right loan term and interest rate structure:

• 15-Year Loan: Higher monthly payments but significantly less interest over time.
• 30-Year Loan: Lower monthly payments but more interest paid over the life of the loan.

Stephanie will walk you through these options, ensuring the plan fits both your current budget and long-term financial goals.

Factor in Additional Costs

Beyond your mortgage payment, other expenses include:

• Property Taxes
• Homeowner’s Insurance
• Closing Costs
• Private Mortgage Insurance (PMI): Required if your down payment is less than 20%.

Stephanie will ensure you fully understand these costs to avoid surprises during the mortgage process.

Customized Mortgage Solutions

At Ent Credit Union, Stephanie takes a personalized approach to mortgage planning. She will work closely with you to customize a mortgage solution that meets your specific financial needs and homeownership goals, providing a stress-free experience from start to finish.

Get Started Today

By working with Stephanie Dombrowski, you’ll receive tailored advice to select the best mortgage plan for your needs in Colorado.

📞 For personalized mortgage assistance, contact Stephanie at (719) 550-6485 today.

Boost Your Credit Score with Stephanie Dombrowski at Ent Credit Union

Improving your credit score is essential for securing the best mortgage terms. Stephanie Dombrowski at Ent Credit Union offers expert guidance to help you enhance your credit score before applying for a mortgage, ensuring you are in the strongest possible financial position. Using tools like Middle Credit Score® can make this process more efficient.

Review Your Credit Report for Accuracy

The first step to improving your credit score is reviewing your credit report for any errors. Mistakes such as incorrect balances, outdated account information, or inaccurate personal data can negatively impact your score. Middle Credit Score® provides tools to thoroughly review your credit report. Stephanie will guide you in identifying and disputing any discrepancies, ensuring your credit report is accurate before applying for a mortgage.

Dispute Inaccurate Information

If you find any inaccuracies, it’s crucial to dispute them with the major credit bureaus—Equifax, Experian, and TransUnion. Errors such as wrongly reported late payments or incorrect account statuses can hurt your credit score. Middle Credit Score® offers resources to help you file disputes effectively. Stephanie will assist you throughout this process, ensuring your credit profile is in the best shape possible.

Pay Down Debt

Reducing your credit card balances is one of the fastest ways to improve your credit score. Lenders focus on your credit utilization ratio—the amount of credit you’re using compared to your available credit. A lower utilization ratio, ideally below 30%, boosts your credit score. Stephanie recommends paying off high-interest debts first and creating a debt-reduction plan. Middle Credit Score® can help with personalized strategies to improve your score before applying.

Avoid New Credit Applications

Opening new credit accounts or applying for loans before securing a mortgage can negatively affect your credit score. Each inquiry can cause a slight drop, and new credit can increase your debt-to-income ratio. To safeguard your score, Stephanie advises avoiding new credit applications for at least six months before your mortgage application.

Make On-Time Payments

Your payment history accounts for a significant portion of your credit score. Consistent, on-time payments across all accounts—credit cards, loans, utilities—are essential. Late payments can severely harm your score. Setting up automatic payments or calendar reminders ensures you never miss a due date. Middle Credit Score® offers tools to help you stay on track with timely payments.

Resolve Negative Items on Your Credit Report

If there are any negative items, such as collections or charge-offs, on your report, it’s essential to resolve them before applying for a mortgage. Middle Credit Score® can guide you in negotiating with creditors to settle these accounts and possibly have the negative marks removed, which will improve your credit score. Stephanie will support you through this process, helping you maximize your credit score.

Achieve Better Mortgage Terms

By following these steps and using resources like Middle Credit Score®, you can enhance your credit score and secure better mortgage terms. Stephanie Dombrowski at Ent Credit Union is here to provide personalized advice and help you achieve your credit goals.

📞 Contact Stephanie at (719) 550-6485 for expert guidance today.

Expert Mortgage Solutions with Stephanie Dombrowski at Ent Credit Union

Whether you’re looking to refinance your current mortgage or purchase a new home, Stephanie Dombrowski at Ent Credit Union is equipped to guide you through the process. Stephanie offers a wide range of mortgage solutions, ensuring you make informed decisions tailored to your specific needs in Colorado.

Home Purchase with Stephanie Dombrowski at Ent Credit Union

Pre-Qualification and Pre-Approval:
The first step in purchasing a home is obtaining pre-qualification or pre-approval for a mortgage. Pre-qualification provides a general estimate of how much you can borrow based on your income and debt levels. Pre-approval involves a more thorough review of your financials and gives you a stronger standing when making offers. Stephanie will walk you through both processes, assessing your financial situation to determine the loan amount you can qualify for.

Selecting the Right Loan Product:
Ent Credit Union offers a variety of loan products, including conventional loans, FHA loans, VA loans, and jumbo loans. Based on your financial situation and the type of property you’re purchasing, Stephanie will help you choose the most suitable loan. For example, jumbo loans are available for high-value properties, while VA loans provide exclusive benefits to veterans, such as no down payment.

Competitive Interest Rates:
Interest rates significantly impact your monthly mortgage payments. Stephanie closely monitors market trends to help you secure a competitive interest rate, ensuring you lock in the best possible loan terms.

Personalized Homebuying Support:
Stephanie provides step-by-step support throughout the entire home-buying process. From the initial application to closing, she ensures you feel confident in every decision, offering a smooth and stress-free experience.

Refinancing with Stephanie Dombrowski at Ent Credit Union

Lower Your Interest Rate:
If current mortgage rates are lower than your existing rate, refinancing can help you secure a better rate and reduce your monthly payments. Stephanie will assess your financial situation and determine if refinancing is the best option, helping you evaluate potential savings.

Cash-Out Refinancing:
For homeowners with significant equity, cash-out refinancing allows you to borrow against your equity for major expenses like home renovations, education, or debt consolidation. Stephanie will guide you through this process to ensure it aligns with your financial goals.

Shorten Your Loan Term:
Refinancing also provides an opportunity to shorten your loan term. Switching from a 30-year mortgage to a 15-year mortgage can help you pay off your home faster and save on interest. Stephanie will help you decide if this option fits your long-term financial plans.

Take the Next Step Toward Your Financial Goals

Whether you’re looking to purchase a home or refinance your existing mortgage, Stephanie Dombrowski at Ent Credit Union is here to help.

📞 Contact Stephanie at (719) 550-6485 to explore your options in Colorado today.

Starting your mortgage application with Stephanie Dombrowski at Ent Credit Union requires gathering several key documents to ensure the process goes smoothly. Having these documents prepared will help expedite your application and minimize delays. 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 (covering at least 30 days) to confirm your current earnings.
  • Tax Returns: If you’re self-employed or have additional sources of income, you’ll need to provide your federal tax returns for the past two years to verify your earnings.
• 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: Stephanie will review your credit report to assess your eligibility for a mortgage.
  • Debt Information: Documentation of any outstanding debts (such as credit cards, student loans, or car loans) will be reviewed to calculate your debt-to-income ratio.
• Proof of Assets:
  • Bank Statements: You’ll need to provide the last two months of bank statements to verify your available funds for a down payment and closing costs.
  • Retirement or Investment Account Statements: If you plan to use funds from a 401(k) or other investment accounts, you’ll need to provide statements showing available balances.
• Proof of Employment:
  • Verification of Employment: In some cases, Stephanie may contact your employer to verify your employment status. If you’re self-employed, you’ll need to provide additional documentation such as business licenses or profit and loss statements.

Loan Program-Specific Documents

Depending on the loan program you’re applying for, additional documents may be required:

• Conventional Loans: Typically require more extensive documentation of your income and assets.
• FHA Loans: Designed for borrowers with lower credit scores, FHA loans may require additional documentation to prove eligibility.
• VA Loans: For veterans and active-duty military members, a Certificate of Eligibility (COE) is required, and in some cases, military discharge papers may be necessary.
• USDA Loans: Designed for rural homebuyers, USDA loans require proof that the property meets USDA guidelines.

By gathering these documents in advance, you’ll ensure that your mortgage application process with Stephanie Dombrowski at Ent Credit Union is smooth and efficient. For more information or to begin your application, contact Stephanie at (719) 550-6485 today.