Choosing the best mortgage plan for your unique needs in Louisiana requires understanding your financial situation, homeownership goals, and the mortgage options available. Hung Le at Movement Mortgage is here to guide you through this important decision-making process.

• Assessing Your Financial Health: Hung will start by reviewing your credit score, income, and debt-to-income ratio to determine which mortgage options are the best fit for your financial profile. By evaluating your financial health, Hung can provide recommendations on the mortgage plans that will offer you the most favorable terms and interest rates.
• Understanding Your Homeownership Goals: Whether you’re a first-time homebuyer, refinancing your current mortgage, or looking to purchase a luxury property, your goals will influence the type of mortgage that suits you best. Hung will work with you to identify these goals, ensuring you choose a plan that aligns with your long-term financial objectives.
• Comparing Mortgage Products: Movement Mortgage offers a variety of loan products, including conventional loans, FHA loans, VA loans, and jumbo loans. Hung will help you understand the differences between each option. For instance, FHA loans are ideal for buyers with lower credit scores, while jumbo loans cater to those purchasing higher-value homes that exceed conforming loan limits.
• Selecting the Right Loan Term: The loan term you choose—whether it’s a 15-year, 20-year, or 30-year mortgage—will impact both your monthly payments and the total interest paid over the life of the loan. Hung will help you balance these factors, explaining the advantages of a shorter-term loan (such as less interest over time) versus a longer-term loan (with lower monthly payments).
• Factoring in Additional Costs: Beyond your mortgage payments, you’ll also need to account for property taxes, homeowner’s insurance, and private mortgage insurance (PMI) if your down payment is less than 20%. Hung will walk you through these costs to help ensure you’re financially prepared for the total cost of homeownership.

Working with Hung Le at Movement Mortgage ensures that you receive expert guidance and personalized mortgage options tailored to your needs. Contact Hung at (504) 210-6697 to get started on selecting the best mortgage plan for your home in Louisiana.

Improving your credit score before applying for a mortgage can help you secure better interest rates and loan terms. Hung Le at Movement Mortgage provides personalized advice to help you boost your credit score, ensuring you’re in the best possible financial position before applying for a mortgage.

1. Review Your Credit Report
   Start by obtaining a copy of your credit report from all three major credit bureaus—Equifax, Experian, and TransUnion. Use resources like Middle Credit Score® to identify and correct any errors that may negatively impact your score. Hung can assist you in reviewing these reports to ensure accuracy and make necessary corrections.
2. Dispute Credit Report Errors
   Mistakes on your credit report, such as incorrect account balances or outdated personal information, can significantly lower your score. Middle Credit Score® offers tools to dispute these errors with the credit bureaus, ensuring your report accurately reflects your financial standing. Resolving these discrepancies can lead to a rapid improvement in your score.
3. Lower Your Credit Utilization
   One key factor in your credit score is your credit utilization ratio, which measures how much of your available credit you’re using. To boost your score, aim to keep your credit utilization below 30%. Hung can help you create a plan to pay down high-interest credit card debt and manage your credit usage effectively.
4. Avoid Opening New Credit Accounts
   In the months leading up to your mortgage application, it’s best to avoid opening new credit accounts. New inquiries can temporarily lower your score and affect your debt-to-income ratio. Hung will advise you on how to maintain a stable credit profile before applying for a mortgage.
5. Make Timely Payments
   Your payment history is one of the most important factors in your credit score. Ensure all bills, including credit cards, loans, and utilities, are paid on time. Middle Credit Score® offers tools to set up reminders and automatic payments to avoid late or missed payments.
6. Address Negative Items on Your Credit Report
   If your credit report includes negative items like collections or charge-offs, it’s important to address them before applying for a mortgage. Hung will help you develop a strategy to negotiate with creditors, while Middle Credit Score® provides resources to help you resolve these issues and improve your score.

By following these steps and using the resources from Middle Credit Score®, you can improve your credit score and increase your chances of securing favorable mortgage terms. For personalized credit improvement strategies, contact Hung Le at (504) 210-6697.

Whether you’re looking to refinance or purchase a new home, Hung Le at Movement Mortgage is ready to assist with expert guidance tailored to your financial goals.

Home Purchase with Hung Le at Movement Mortgage

• Pre-Qualification and Pre-Approval: Before you begin your home search, getting pre-qualified or pre-approved for a mortgage is an essential first step. Pre-qualification gives you an estimate of how much you can borrow, while pre-approval involves a more in-depth review of your finances. Hung will help you through both processes, ensuring you are well-prepared to make competitive offers.
• Choosing the Right Loan Program: Movement Mortgage offers a variety of loan programs, including conventional, FHA, VA, and jumbo loans. Hung will help you assess your needs and determine which loan product is best suited for your situation, whether you’re buying your first home, upgrading, or purchasing a high-value property.
• Securing Competitive Interest Rates: Hung is dedicated to finding you the most competitive interest rates available. By monitoring market trends, he will help you lock in a rate that aligns with your budget and long-term financial goals.
• Step-by-Step Guidance: Buying a home can feel overwhelming, but with Hung’s step-by-step guidance, the process will be much smoother. He will assist you from the initial application to closing, ensuring you understand every step and avoid potential pitfalls.

Refinancing with Hung Le at Movement Mortgage

• Lower Your Interest Rate: Refinancing your mortgage allows you to take advantage of lower interest rates, reducing your monthly payments and potentially saving you thousands over the life of the loan. Hung will help you determine whether refinancing is the right option based on your current mortgage and financial situation.
• Cash-Out Refinancing: If you’ve built equity in your home, cash-out refinancing allows you to access that equity for major expenses, such as home improvements or debt consolidation. Hung will guide you through the cash-out refinancing process, explaining how it can benefit your overall financial plan.
• Shortening Your Loan Term: Refinancing to a shorter loan term, such as from a 30-year mortgage to a 15-year mortgage, can help you pay off your home sooner and save on interest costs. Hung will help you evaluate the pros and cons of this option based on your financial goals.

For more information on refinancing or purchasing a home, contact Hung Le at (504) 210-6697 to explore your mortgage options with Movement Mortgage.

When applying for a mortgage with Hung Le at Movement Mortgage, gathering the necessary documents in advance will help 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 past two years to verify your employment and income.
  • Pay Stubs: Your most recent pay stubs (covering at least 30 days) will be required to confirm your current earnings.
  • Tax Returns: If you’re self-employed or have additional sources of income, you’ll need to provide 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, will be needed to confirm your identity.
  • Social Security Number: Your Social Security number will be used to pull your credit report and verify your identity.
• Credit History:
  • Credit Report: Hung will review your credit report to assess your mortgage eligibility and determine the best loan options for you.
  • Debt Information: You’ll need to provide details of any outstanding debts (such as credit cards, student loans, or auto loans) so your debt-to-income ratio can be calculated.
• Proof of Assets:
  • Bank Statements: Lenders will require your most recent bank statements (usually from the past two months) to verify the funds available for your down payment and closing costs.
  • Retirement or Investment Account Statements: If you plan to use funds from a 401(k) or other investment accounts, provide statements showing the available balances.
• Proof of Employment:
  • Verification of Employment: Hung may contact your employer to verify your employment. If you’re self-employed, additional documents such as business licenses or profit and loss statements may be required.

Loan Program-Specific Documents

• Conventional Loans: These loans may require more detailed documentation of your income and assets.
• FHA Loans: FHA loans often require additional documentation, especially for borrowers with lower credit scores.
• VA Loans: Veterans applying for VA loans will need to provide a Certificate of Eligibility (COE) and military discharge papers (if applicable).
• USDA Loans: USDA loans may require proof that the property is in an eligible rural area.

By preparing these documents in advance, you’ll ensure a faster and smoother mortgage application process with Hung Le at Movement Mortgage. For more information or to begin your application, contact Hung at (504) 210-6697.