🎉 Jumbo Loan Florida | Brain Coutu

Choosing the best mortgage plan for your needs can be a critical part of your homebuying journey. Brian Coutu at Fairway Mortgage Corp is here to guide you through selecting the most suitable mortgage option based on your financial situation and homeownership goals in Florida.

• Evaluate Your Financial Situation: Brian will begin by reviewing your current financial standing, including your credit score, income, savings, and debt-to-income ratio. This helps identify which mortgage options are available and which will offer the best terms based on your unique circumstances.
• Identify Your Homeownership Goals: Whether you’re a first-time homebuyer, an investor, or looking to refinance, Brian will guide you toward the best mortgage options, including fixed-rate mortgages, which provide stability with consistent payments, or adjustable-rate mortgages (ARMs) that start with lower rates, ideal if you plan to sell or refinance in a few years.
• Compare Loan Products: Fairway Mortgage Corp offers various loan options, including conventional loans, FHA loans, VA loans, and jumbo loans. Jumbo loans are perfect for higher-value properties, while FHA loans suit buyers with smaller down payments. Brian will help you compare these products, ensuring you select the one that meets your financial goals.
• Select the Right Loan Term: Choosing between a 15-year and 30-year mortgage affects both your monthly payments and the total interest paid over the life of the loan. A 15-year term allows you to pay off your loan faster with higher monthly payments but lower interest overall. A 30-year term offers lower monthly payments but higher interest over time. Brian will help you decide which option works best for your budget and long-term plans.
• Account for Additional Costs: Mortgage payments aren’t the only costs involved in homeownership. Additional expenses such as property taxes, homeowner’s insurance, and possibly private mortgage insurance (PMI) may apply. Brian will help you understand and plan for these costs when choosing your mortgage.

For expert advice on selecting the best mortgage plan for your needs in Florida, contact Brian Coutu at (954) 330-3793.

When applying for a mortgage with Brian Coutu at Fairway Mortgage Corp, having the necessary documents ready will ensure a smooth and efficient 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 the last 30 days, to confirm your current earnings.
  • Tax Returns: If you are self-employed or have additional income streams, you’ll need to provide federal tax returns for the last two years.
• Proof of Identity:
  • Government-Issued ID: A valid photo ID, such as a driver’s license or passport, is required to confirm your identity.
  • Social Security Number: Your Social Security Number will be used to pull your credit report and confirm your identity.
• Credit History:
  • Credit Report: Brian 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, or auto loans, to 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 investment accounts, you’ll need to provide statements showing the available balances.
• Proof of Employment:
  • Verification of Employment: Brian may need to contact your employer to verify your employment status. If you are self-employed, additional documentation such as business licenses or profit and loss statements may be required.

Loan Program-Specific Documents

Different loan programs may require specific documents based on their qualifying criteria:

• Conventional Loans: Conventional loans often require more extensive documentation of income and assets.
• FHA Loans: FHA loans may require additional documentation, particularly for borrowers 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 require proof that the property meets rural development guidelines.

By gathering these documents in advance, you’ll ensure a smooth mortgage application process with Brian Coutu at Fairway Mortgage Corp. For more information or to begin your application, contact Brian at (954) 330-3793.