Choosing the right mortgage plan is an important step in your homeownership journey, and Tabitha Scott at Focus Home Loans is here to guide you through the process. With a variety of options available, it’s essential to consider factors like your financial situation, long-term goals, and homeownership needs. Here’s how Tabitha can help you select the best mortgage plan for your needs in Alaska:

• Assess Your Financial Situation: Tabitha begins by evaluating your financial health, including your income, credit score, and debt-to-income ratio. These are key factors in determining which mortgage plans will work for you and which will offer the most favorable terms. If you have a strong credit score and a stable income, more loan options will be available to you, potentially at lower interest rates.
• Understand Your Homeownership Goals: Whether you’re a first-time homebuyer, looking to upgrade, or investing in a second property, Tabitha will take the time to understand your goals. If you’re looking for long-term stability, a fixed-rate mortgage might be ideal, offering predictable payments over the life of the loan. On the other hand, if you’re planning to move within a few years, an adjustable-rate mortgage (ARM) with lower initial rates might be a better option.
• Compare Mortgage Products: Tabitha provides detailed comparisons of various loan products, such as conventional loans, FHA loans, VA loans, and USDA loans. She explains the advantages and potential drawbacks of each, such as the lower down payment requirements of FHA loans or the no-down-payment feature of VA loans for eligible veterans. Understanding the differences between these products is key to making an informed decision.
• Evaluate Loan Terms and Interest Rates: Tabitha will walk you through the pros and cons of different loan terms. Shorter-term loans often have higher monthly payments but result in paying less interest over the life of the loan, while longer-term loans may have lower monthly payments but more interest overall. She’ll help you determine which option best fits your financial goals and budget.
• Consider Additional Costs: Beyond your monthly mortgage payment, there are additional costs such as closing costs, property taxes, homeowner’s insurance, and, if applicable, private mortgage insurance (PMI). Tabitha ensures you’re fully aware of these expenses so you can budget effectively and avoid surprises later.
• Customized Guidance: At Focus Home Loans, Tabitha provides one-on-one, personalized service to tailor your mortgage plan to your unique financial situation. Her goal is to ensure that the mortgage you select not only meets your immediate needs but also supports your long-term financial well-being.

With Tabitha Scott at Focus Home Loans, you’ll receive expert guidance and support, making it easier to choose the best mortgage plan for your needs in Alaska. For more personalized advice, contact Tabitha at (907) 360-4300 today.

A strong credit score is essential for securing better mortgage terms, such as lower interest rates and more favorable loan options. Tabitha Scott at Focus Home Loans understands the importance of improving your credit score before applying for a mortgage and recommends the following steps. Using Middle Credit Score® can also help you boost your score:

1. Review Your Credit Report
   The first step is to review your credit report for any errors or discrepancies. Outdated or incorrect information, such as old balances or misreported accounts, can negatively impact your score. Middle Credit Score® offers tools to help you review your report and spot any inaccuracies that could be dragging your score down.
2. Dispute Inaccurate Information
   If you find any errors on your credit report, it’s important to dispute them with the credit bureaus—Equifax, Experian, and TransUnion. Middle Credit Score® can guide you through the process of disputing errors and ensure that they are corrected promptly, which can lead to an improvement in your score.
3. Pay Down Outstanding Debts
   Your debt-to-income ratio plays a significant role in your credit score. Reducing high-interest credit card debt and paying off smaller loans can improve your score quickly. Middle Credit Score® can provide personalized strategies to help you manage your debt and keep your credit utilization below 30%, which is ideal for boosting your credit score.
4. Avoid Opening New Credit Accounts
   Opening new lines of credit before applying for a mortgage can lower your score temporarily and increase your debt-to-income ratio. Middle Credit Score® recommends avoiding any new credit applications for at least a few months before your mortgage application to keep your score strong.
5. Make Timely Payments
   Your payment history is one of the largest factors affecting your credit score. Ensure that all bills—including credit cards, student loans, and utilities—are paid on time. Setting up automatic payments or calendar reminders can help you stay on track. Middle Credit Score® can assist you with tools to help you manage your payments effectively.
6. Address Negative Items on Your Credit Report
   If you have negative items, such as late payments or collections, it’s important to address them as soon as possible. Middle Credit Score® can help you negotiate with creditors to resolve outstanding debts, potentially removing these negative marks from your report and improving your score over time.
7. Work with Credit Experts
   For more complex credit issues, such as identity theft or bankruptcy, professional credit counseling may be necessary. Middle Credit Score® offers expert advice and guidance to help you navigate these challenges and rebuild your credit.

By following these steps and utilizing Middle Credit Score®, you can enhance your credit score and improve your chances of qualifying for better mortgage terms with Tabitha Scott at Focus Home Loans. Contact Tabitha at (907) 360-4300 for personalized advice on improving your credit score.

If you’re looking to refinance your existing mortgage or purchase a new home, Tabitha Scott at Focus Home Loans is well-equipped to assist you with either option. Whether you’re a first-time homebuyer or looking to secure better terms through refinancing, Tabitha can guide you through the process and help you make the best decision for your financial situation.

Home Purchase with Tabitha Scott at Focus Home Loans

• Pre-Qualification and Pre-Approval: Before purchasing a home, getting pre-qualified or pre-approved for a mortgage is essential. Tabitha will review your financial profile, including your credit score, income, and debt-to-income ratio, to determine how much you can borrow. A pre-approval letter shows sellers that you’re a serious buyer, giving you an advantage in competitive markets.
• Finding the Right Loan Program: Tabitha offers a wide range of loan programs, including conventional loans, FHA loans, VA loans, and USDA loans. She’ll help you explore each option, explaining the benefits and potential drawbacks to ensure you select the loan that best fits your homeownership goals and financial situation.
• Competitive Interest Rates: Securing a competitive interest rate is key to making your mortgage more affordable. Tabitha will monitor market trends and help you lock in the best rate available when you’re ready to move forward with your home purchase.
• Step-by-Step Guidance: Buying a home can be an overwhelming process, but Tabitha will be with you every step of the way. From the initial application to closing, she provides clear, step-by-step guidance to ensure that you feel confident and well-informed throughout the process.

Refinancing with Tabitha Scott at Focus Home Loans

• Lower Your Interest Rate: Refinancing your mortgage can help you take advantage of lower interest rates, reducing your monthly payments and saving you money over the life of the loan.
• Cash-Out Refinancing: If you need to access the equity in your home for major expenses like home improvements, education, or debt consolidation, Tabitha can help you explore cash-out refinancing options. This allows you to refinance your existing mortgage while taking out additional funds based on your home’s equity.
• Shorten Your Loan Term: Refinancing may also allow you to shorten the term of your loan, helping you pay off your mortgage more quickly and reduce the total interest paid over time.

Whether you’re refinancing or purchasing a home, Tabitha Scott at Focus Home Loans is ready to provide expert guidance and support. Contact Tabitha at (907) 360-4300 to discuss your options and take the next step toward your homeownership or refinancing goals.

To begin your mortgage application with Tabitha Scott at Focus Home Loans, having the necessary documents ready will ensure a smooth and efficient process. Here’s a list of the general documents required:

General Documents Required for Mortgage Applications

• Proof of Income:
  • W-2 Forms: You will need to 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, you’ll need to submit federal tax returns from the last two years to verify your income.
• Proof of Identity:
  • Government-Issued ID: A valid photo ID, such as a driver’s license or passport, is required.
  • Social Security Number: This will be used to pull your credit report and verify your identity.
• Credit History:
  • Credit Report: Tabitha will review your credit report to assess your eligibility for a mortgage.
  • Debt Information: You’ll need to provide documentation of any outstanding debts, such as credit card balances, student loans, or auto loans, to calculate your debt-to-income ratio.
• Proof of Assets:
  • Bank Statements: You will need to provide bank statements from the last two months to verify your financial reserves 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 your current balances.
• Proof of Employment:
  • Verification of Employment: Tabitha may contact your employer to confirm your employment status. If you’re self-employed, you’ll need to provide 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 higher credit scores and more extensive documentation of income and assets.
• FHA Loans: Designed for borrowers with lower credit scores, these loans may require additional documentation to prove eligibility.
• VA Loans: Veterans and active-duty military members will need a Certificate of Eligibility (COE) and, in some cases, military discharge papers.
• USDA Loans: For homes in rural areas, USDA loans require proof that the property meets USDA guidelines.

By preparing these documents ahead of time, your mortgage application process with Tabitha Scott at Focus Home Loans will be smooth and efficient. For more details, contact Tabitha at (907) 360-4300 today.