🎉 Loan Officer Michigan | Chuck Hage

Selecting the right mortgage plan for your needs in Michigan is a critical decision, and Chuck Hage at Prime Lending is dedicated to helping you navigate the process with ease. Here’s how Chuck can guide you:

• Evaluate Your Financial Situation: Chuck will help you analyze your current financial position, including your credit score, income, debt-to-income ratio, and available savings. These factors are key to determining which loan products you qualify for and the most suitable terms.
• Understand Your Homeownership Goals: Whether you are a first-time homebuyer, looking to refinance, or buying an investment property, Chuck will work closely with you to tailor the mortgage plan to your unique goals. For instance, if you’re looking for long-term stability, a fixed-rate mortgage might be ideal. On the other hand, if you anticipate moving or refinancing in a few years, an adjustable-rate mortgage (ARM) could provide lower initial payments.
• Compare Loan Options: Prime Lending offers a variety of mortgage options, including conventional loans, jumbo loans, FHA loans, and VA loans. Chuck will explain the benefits of each, guiding you through how factors like interest rates, loan terms, and down payments will affect your monthly payments and overall costs.
• Assess Loan Terms: You’ll have the option to choose from a variety of loan terms, ranging from 15 to 30 years. Chuck will help you weigh the pros and cons of a shorter-term loan, which involves higher payments but saves on interest, versus a longer-term loan with lower payments but higher total interest.
• Consider Additional Costs: Chuck ensures that you are fully aware of all additional costs, including private mortgage insurance (PMI), property taxes, and homeowners insurance. These costs can impact your monthly budget, and Chuck will help you plan accordingly.

Working with Chuck Hage at Prime Lending means you’ll receive personalized advice to select the best mortgage plan for your needs. For assistance, contact Chuck at (313) 274-6500 or email him at chuckhage@primelending.com.

Improving your credit score can help you secure better mortgage rates and terms. Chuck Hage at Prime Lending offers these steps to help enhance your credit score before applying for a mortgage:

1. Review Your Credit Report
   Begin by obtaining a copy of your credit report from the major credit bureaus—Equifax, Experian, and TransUnion. Chuck can assist you in reviewing the report for any errors or discrepancies, such as outdated balances or incorrect account statuses. Disputing these inaccuracies can lead to an immediate score improvement.
2. Dispute Errors
   If you find inaccuracies, promptly dispute them with the credit bureaus. Correcting errors like wrong late payment entries or incorrect loan amounts can boost your credit score significantly. Chuck can guide you through the dispute process to ensure your credit report is accurate.
3. Pay Down High Balances
   One of the fastest ways to improve your credit score is by paying down your credit utilization ratio, which is the percentage of your available credit that you’re using. Ideally, you should keep this ratio under 30%. Chuck advises focusing on paying down high-interest credit card balances to improve your score quickly.
4. Avoid Opening New Accounts
   Avoid applying for new credit cards or loans in the months leading up to your mortgage application. Each new credit inquiry can lower your score slightly, and new debt can increase your debt-to-income ratio. Chuck recommends holding off on any new credit applications until after you’ve secured your mortgage.
5. Timely Payments
   Payment history is a major factor in your credit score. Ensure all bills, including credit cards, utilities, and loans, are paid on time. Set up automatic payments or reminders to avoid missing due dates. Consistent, on-time payments will positively impact your credit score over time.
6. Resolve Negative Items
   If you have collections, charge-offs, or other negative items on your credit report, it’s essential to address them. Chuck can assist you in negotiating with creditors or setting up a repayment plan, which could lead to the removal of these items and a credit score boost.

By following these steps, you can improve your credit score and position yourself for better mortgage terms. For personalized credit advice, reach out to Chuck Hage at Prime Lending at (313) 274-6500 or via email at chuckhage@primelending.com.

Yes, whether you’re looking to refinance or purchase a home, Chuck Hage at Prime Lending can assist you with either option. Here’s how Chuck can help:

Home Purchase with Chuck Hage at Prime Lending

• Pre-Qualification and Pre-Approval: The first step in the home-buying process is getting pre-qualified or pre-approved. Chuck will review your financial situation and help you determine how much you can afford to borrow. A pre-approval letter demonstrates to sellers that you’re a serious buyer, improving your chances of securing the home you want.
• Explore Mortgage Products: Prime Lending offers various mortgage options, including conventional loans, jumbo loans, FHA loans, and VA loans. Chuck will help you choose the best option based on your financial goals, whether you’re seeking a low down payment, favorable interest rates, or a jumbo loan for a high-value property.
• Competitive Interest Rates: Chuck works hard to secure the best possible interest rates for your mortgage, ensuring that you save money over the life of your loan.
• Step-by-Step Guidance: From the initial application to the final closing, Chuck will provide expert guidance through every step of the home-buying process.

Refinancing with Chuck Hage at Prime Lending

• Lower Interest Rates: If current mortgage rates are lower than the rate on your existing loan, refinancing can help reduce your monthly payments and save you money in the long run. Chuck will evaluate your situation to determine if refinancing is a good financial move.
• Cash-Out Refinancing: If you have equity built up in your home, a cash-out refinance allows you to access that equity for major expenses like home improvements or debt consolidation. Chuck will walk you through the process to ensure it aligns with your financial goals.
• Shorten Loan Term: Refinancing to a shorter loan term, such as a 15-year mortgage, can help you pay off your home sooner and save on interest. Chuck will help you explore whether this option fits your financial plans.

To explore refinancing or purchasing a home, contact Chuck Hage at Prime Lending at (313) 274-6500 or email chuckhage@primelending.com.

Being prepared with the necessary documents can help streamline your mortgage application process. When applying for a mortgage with Chuck Hage at Prime Lending, you’ll need the following documents:

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 from the last 30 days to confirm your current earnings.
  • Tax Returns: If you’re self-employed or have multiple sources of income, 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 and confirm your identity.
• Credit History:
  • Credit Report: Chuck 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 auto loans, will be reviewed to calculate your debt-to-income ratio.
• Proof of Assets:
  • Bank Statements: Provide the last two months of bank statements to verify your financial reserves for down payments, closing costs, and reserves.
  • Retirement or Investment Account Statements: If you’re using funds from retirement or investment accounts, provide statements to verify balances.
• Proof of Employment:
  • Employment Verification: Prime Lending may contact your employer to verify your employment. If you’re self-employed, additional documentation such as profit and loss statements or business licenses may be required.

Loan Program-Specific Documents

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

By gathering these documents in advance, you’ll help ensure a smooth and efficient mortgage application process. Contact Chuck Hage at Prime Lending at (313) 274-6500 or via email at chuckhage@primelending.com for personalized assistance.