Selecting the right mortgage plan can feel overwhelming, but Tony Umholtz at First Horizon Mortgage is here to guide you through the process, ensuring you choose the plan that best fits your financial goals in Florida.

• Evaluate Your Financial Situation: Tony will begin by assessing your financial health, including your credit score, income, debt-to-income ratio, and savings. This evaluation will help identify the types of mortgage loans for which you qualify and ensure you select a loan with favorable terms.
• Understand Your Homeownership Goals: Whether you’re a first-time homebuyer, looking to refinance, or purchasing an investment property, Tony will help you choose between a fixed-rate mortgage, which offers long-term stability, or an adjustable-rate mortgage (ARM), which provides lower initial payments, ideal if you plan to sell or refinance within a few years.
• Compare Loan Products: First Horizon Mortgage offers various loan options, including conventional loans, FHA loans, VA loans, and jumbo loans. FHA loans are ideal for buyers with smaller down payments, while jumbo loans are designed for high-value homes. Tony will help you compare the benefits of each option to determine which suits your needs.
• Select the Right Loan Term: Loan terms affect your monthly payments and the total interest paid. A shorter term, such as a 15-year loan, results in higher monthly payments but less interest over time, while a 30-year loan spreads out payments but incurs more interest. Tony will help you decide on the best term for your budget and financial objectives.
• Account for Additional Costs: Mortgage payments are only one part of homeownership costs. You’ll also need to consider property taxes, homeowner’s insurance, and, in some cases, private mortgage insurance (PMI). Tony will ensure you’re fully aware of these costs when choosing your mortgage plan.

For expert guidance on selecting the best mortgage plan for your needs in Florida, contact Tony Umholtz at (813) 603-4255.

Improving your credit score is a crucial step in securing a favorable mortgage. Tony Umholtz at First Horizon Mortgage can guide you through the process of boosting your credit score before applying for a home loan.

1. Review Your Credit Report
   The first step is to review your credit report from the three major credit bureaus—Equifax, Experian, and TransUnion. Tony will help you identify any errors that could be negatively impacting your score and provide guidance on disputing inaccuracies.
2. Dispute Credit Report Errors
   If you find errors on your credit report, disputing them with the credit bureaus is essential. Tony can help you navigate the dispute process, ensuring your credit report is accurate and reflects your true creditworthiness.
3. Pay Down Debt
   Reducing your outstanding debt is one of the fastest ways to improve your credit score. Lenders examine your credit utilization ratio—the percentage of available credit you’re using. Keeping this ratio below 30% can significantly improve your score. Tony will help you devise a strategy to pay down your debt effectively.
4. Avoid New Credit Inquiries
   Applying for new credit accounts before applying for a mortgage can lower your score. Each inquiry on your credit report reduces your score slightly, and new credit increases your debt-to-income ratio. Tony advises avoiding any new credit applications for at least six months before applying for a mortgage.
5. Make Timely Payments
   Payment history is a critical factor in determining your credit score. Ensuring that all bills, including credit cards, loans, and utilities, are paid on time will positively impact your score. Tony can help you set up reminders or automatic payments to ensure you never miss a due date.
6. Resolve Negative Items on Your Credit Report
   If your credit report includes negative items such as late payments, collections, or charge-offs, resolving these issues is vital. Tony will help you develop a plan to settle outstanding debts and work toward improving your credit score.

By following these steps, you can significantly improve your credit score and secure better mortgage terms. For personalized advice on boosting your credit score, contact Tony Umholtz at (813) 603-4255.

Yes, whether you’re looking to refinance or purchase a home, Tony Umholtz at First Horizon Mortgage can provide expert guidance to help you through the process and secure the best mortgage solution for your situation.

Home Purchase with Tony Umholtz at First Horizon Mortgage

• Pre-Qualification and Pre-Approval: Pre-qualification and pre-approval are the first steps in the homebuying process. Pre-qualification gives you an estimate of how much you can afford, while pre-approval involves a detailed review of your finances, putting you in a stronger position when making offers. Tony will guide you through both processes, ensuring you’re ready to act when you find the right home.
• Choosing the Right Loan Product: First Horizon Mortgage offers a range of mortgage products, including FHA, VA, conventional, and jumbo loans. Tony will help you choose the loan that best fits your financial needs and homeownership goals.
• Securing a Competitive Interest Rate: Interest rates significantly impact your monthly payments. Tony will work to secure the most competitive rate for you, helping you keep your mortgage affordable over the long term.
• Personalized Guidance Throughout: From the initial application to closing, Tony offers personalized guidance to ensure that the process runs smoothly and efficiently. He’ll explain each step so you feel confident throughout your homebuying journey.

Refinancing with Tony Umholtz at First Horizon Mortgage

• Lowering Your Interest Rate: Refinancing is a great way to lower your interest rate, reducing your monthly mortgage payments. Tony will review your current loan terms and help determine if refinancing is the right option for you.
• Cash-Out Refinancing: If you’ve built equity in your home, cash-out refinancing allows you to borrow against that equity for major expenses like home renovations or debt consolidation. Tony will help you evaluate whether cash-out refinancing fits your long-term financial goals.
• Shortening Your Loan Term: Refinancing also provides the opportunity to shorten your loan term. While this increases your monthly payments, it reduces the amount of interest you’ll pay over the life of the loan. Tony will help you determine whether shortening your loan term aligns with your financial objectives.

For help with refinancing or purchasing a home, contact Tony Umholtz at (813) 603-4255 to explore your options.

When applying for a mortgage with Tony Umholtz at First Horizon Mortgage, 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: You’ll 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 or have other sources of income, you’ll need to provide federal 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: Tony will review your credit report to assess your mortgage eligibility.
  • Debt Information: You’ll need to provide documentation of any outstanding debts, such as credit cards, student loans, or auto loans, so Tony can 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 investment accounts, you’ll need to provide statements showing the available balances.
• Proof of Employment:
  • Verification of Employment: Tony may contact your employer to verify your employment status. If you’re 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 documentation:

• Conventional Loans: These loans often require more extensive documentation of income and assets.
• FHA Loans: FHA loans, designed for borrowers with lower credit scores, may require additional documentation to prove eligibility.
• 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 specific rural development guidelines.

By gathering these documents ahead of time, you’ll ensure a smooth mortgage application process with Tony Umholtz at First Horizon Mortgage. For more information or to begin your application, contact Tony at (813) 603-4255 today.