🎉 Minnesota Loan Officer | Lisa Wells

Choosing the right mortgage plan is an important financial decision, and Lisa Wells at CrossCountry Mortgage LLC is here to help you navigate the process to ensure you select the best plan for your specific needs in Minnesota. Here’s how Lisa guides you:

• Assess Your Financial Situation: Lisa starts by analyzing your current financial health, including your credit score, income, and savings. Understanding your financial profile will help narrow down which mortgage programs are most suitable for you.
• Identify Your Homeownership Goals: Whether you’re a first-time homebuyer, refinancing your home, or investing in a second property, Lisa works closely with you to understand your short-term and long-term goals. Based on your unique needs, she will suggest mortgage options that align with your financial objectives.
• Explore Loan Options: Lisa offers access to a wide range of mortgage products, including conventional loans, FHA loans, VA loans, and jumbo loans. She will explain the benefits and considerations of each loan product, helping you understand how interest rates, loan terms, and down payments can impact your monthly mortgage payments.
• Compare Loan Terms and Interest Rates: Lisa assists you in deciding between a short-term loan or long-term loan based on your financial goals. Shorter-term loans may have higher monthly payments but offer savings in interest, while longer-term loans provide lower monthly payments but accrue more interest over time.
• Consider Additional Costs: Lisa ensures you have a clear understanding of all the associated costs, including property taxes, homeowners insurance, and private mortgage insurance (PMI), so you’re fully prepared for the financial responsibilities of homeownership.
• Ongoing Support: The mortgage process doesn’t end once you select a plan. Lisa provides ongoing support, ensuring that you understand every phase, from pre-approval to closing, and helping you navigate any challenges along the way.

With Lisa Wells at CrossCountry Mortgage LLC, you’ll have expert guidance to choose the best mortgage plan for your home purchase in Minnesota. Contact Lisa at (612) 424-7252 or email lisa@lisa-wells.com for personalized assistance.

Improving your credit score is crucial when applying for a mortgage, as it directly impacts the interest rates and terms you qualify for. Lisa Wells at CrossCountry Mortgage LLC offers the following steps to help you improve your credit score before applying for a mortgage:

1. Review Your Credit Report
   Start by reviewing your credit report from all three major credit bureaus: Equifax, Experian, and TransUnion. Lisa can assist you in reviewing your credit report for errors or inaccuracies, such as outdated balances or incorrect information. Correcting these can improve your credit score.
2. Dispute Credit Report Errors
   If you find any errors on your credit report, it’s essential to dispute them promptly. Lisa will guide you through the process of filing disputes with the credit bureaus, ensuring that any inaccuracies are addressed to improve your credit standing.
3. Pay Down High Balances
   A key factor in your credit score is your credit utilization ratio—the percentage of your credit limit that you’re using. Aim to keep this ratio below 30% by paying down outstanding balances on your credit cards and other revolving debt. This will positively impact your credit score and increase your mortgage eligibility.
4. Avoid New Credit Inquiries
   It’s important to avoid opening new lines of credit or taking on new debt before applying for a mortgage. New credit inquiries can temporarily lower your score and affect your debt-to-income ratio, which is a key factor in mortgage approval.
5. Make Timely Payments
   Your payment history plays a significant role in determining your credit score. Ensure that you make all your payments on time—this includes credit cards, loans, and utilities. Setting up automatic payments can help you avoid missing any due dates.
6. Address Negative Marks
   If there are negative items on your credit report, such as collections or late payments, Lisa can help you develop a strategy to address them. This could involve negotiating with creditors or setting up payment plans to resolve any outstanding issues.

By following these steps, you can enhance your credit score and improve your chances of securing better mortgage terms. For personalized guidance, reach out to Lisa Wells at CrossCountry Mortgage LLC at (612) 424-7252 or via email at lisa@lisa-wells.com.

Yes, refinancing or purchasing a home with the assistance of Lisa Wells at CrossCountry Mortgage LLC is a seamless process. Lisa is dedicated to helping you make informed decisions about either refinancing your existing mortgage or purchasing a new home.

Home Purchase with Lisa Wells at CrossCountry Mortgage LLC

• Pre-Qualification and Pre-Approval: Lisa will help you get pre-qualified or pre-approved for a mortgage, giving you a clearer understanding of how much you can afford. A pre-approval letter can make you a more attractive buyer when making offers on a home.
• Explore Loan Programs: Lisa offers a variety of mortgage options, including conventional loans, FHA loans, VA loans, and jumbo loans. She will help you navigate these options to find the loan program that best suits your financial situation.
• Competitive Interest Rates: Lisa is committed to finding you the most competitive interest rates, ensuring that you save money over the life of your loan. She’ll keep you informed of market trends to lock in the best rate when you’re ready.
• Step-by-Step Guidance: Throughout the home-buying process, Lisa provides clear guidance at every stage, from application to closing. She works closely with real estate agents and other professionals to ensure a smooth transaction.

Refinancing with Lisa Wells at CrossCountry Mortgage LLC

• Lower Your Interest Rate: Refinancing your mortgage with Lisa can lower your interest rate, potentially reducing your monthly payments. Lisa will review your current loan to see if refinancing is a beneficial option.
• Cash-Out Refinancing: If you’ve built equity in your home, a cash-out refinance allows you to access funds for major expenses such as home renovations or debt consolidation. Lisa will guide you through the process and explain how this option may benefit your financial situation.
• Adjust Your Loan Term: Refinancing also allows you to change the term of your mortgage. Switching from a 30-year mortgage to a 15-year mortgage, for example, can help you pay off your home faster and save on interest.

For personalized assistance with refinancing or purchasing a home, contact Lisa Wells at CrossCountry Mortgage LLC at (612) 424-7252 or via email at lisa@lisa-wells.com.

When applying for a mortgage with Lisa Wells at CrossCountry Mortgage LLC, having the necessary documents ready can speed up the 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 past two years to verify your employment history and income.
  • Pay Stubs: Submit your most recent pay stubs, typically covering at least the last 30 days.
  • Tax Returns: If you’re self-employed, you’ll need to provide federal tax returns for the past two years.
• Proof of Identity:
  • Government-Issued ID: A valid driver’s license or passport is required for identity verification.
  • Social Security Number: Your Social Security number will be used to pull your credit report.
• Credit History:
  • Credit Report: Lisa will review your credit report to assess your eligibility for a mortgage.
  • Debt Information: Provide documentation of any outstanding debts, such as credit cards, student loans, or auto loans.
• Proof of Assets:
  • Bank Statements: Lenders will ask for bank statements from the last two months to verify your available 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 investment account for your down payment, you’ll need to provide statements to verify the balance.
• Proof of Employment:
  • Employment Verification: In some cases, CrossCountry Mortgage may contact your employer to verify your employment. If you’re self-employed, you’ll need to provide additional documents, such as a profit and loss statement.

Loan Program-Specific Documents

• Conventional Loans: Typically require higher credit scores and more extensive income and asset documentation.
• FHA Loans: Designed for borrowers with lower credit scores, FHA loans may require additional documentation to verify eligibility.
• VA Loans: If you’re a veteran, you’ll need a Certificate of Eligibility (COE) and possibly discharge papers.
• USDA Loans: Require documentation to prove that the property is located in a USDA-eligible rural area.

Preparing these documents in advance will help streamline the mortgage process. Contact Lisa Wells at Cross Country Mortgage LLC at (612) 424-7252 or email lisa@lisa-wells.com to get started.