Zach Miller, Gershman Mortgage

With talk of rates coming down over the next several months, you might be thinking to yourself, "it's FINALLY time to invest!" As of June 2023, 27% of all single family home purchases were made by investors. I want to quickly touch on some pros and cons to help you decide if you’re ready to join the ride!

Pros:

Passive income: Sit back, relax, and let the rent checks roll in!
Appreciation: Over time, your property value may increase, making you wealthier without lifting a finger.
Tax benefits: Uncle Sam loves landlords! Enjoy some tax deductions on your property expenses and mortgage interest.
Cons:

Maintenance & repairs: Leaky faucet? Broken window? Get ready to roll up your sleeves or hire someone to tackle those pesky property issues.
Vacancy risks: No tenants, no income.
Tenant troubles: Not all tenants are a dream come true. Be prepared for late payments or property damage that might test your patience.
With a positive mindset and the willingness to take calculated risks, you’ll be well on your way to building a successful real estate portfolio.

Are you ready to take the plunge into the world of rental property investment? I'm here to help you figure out if the numbers make sense! Reach out any time.

Zach Miller | Loan Officer
M: 417-861-0307 | W: zachmiller.com

Get ready for the new school year with a special offer for our incredible educators! To show our appreciation, we're excited to launch our Back to School Promotion. From July 29th to September 2nd, 2024, teachers and staff at K-12 schools or colleges/universities can receive a $250 closing cost credit when purchasing a primary residence through Gershman. Thank you for all that you do!

Got questions on how to get things started? Reach out today!

Zach Miller | Loan Officer
M: 417-861-0307 | W: zachmiller.com

Now that you know how the FHA 203(k) loan can help you reach your goals, are you wondering what the best improvements are to get the highest return on investment? Here are some of the top upgrades that can boost your home’s value (I have checked a few of these off my list!):

1. Kitchen Remodel: Updating your kitchen can have a big impact. Think modern appliances, new countertops, and fresh cabinets.
2. Bathroom Renovation: A clean, updated bathroom is always a plus. Consider new fixtures, tiles, and lighting.
3. Curb Appeal: First impressions matter. Invest in landscaping, a fresh coat of paint, or a new front door to enhance your home’s exterior.
4. Energy-Efficient Upgrades: Installing energy-efficient windows, doors, and insulation can save money on utility bills and attract eco-conscious buyers.
5. Basement or Attic Conversion: Transforming unused space into a functional area like a guest room or office can add significant value.

Thinking about which improvements are right for your home? I'd be happy to walk you through the process or run some numbers to make sure you're making the smart choice to maximize your investment!

Zach Miller | Loan Officer
M: 417-861-0307 | W: zachmiller.com

Thinking about renovating your home but worried about the costs? The FHA 203(k) loan might be the perfect solution for you! This unique loan allows you to finance both the purchase and renovation of your home in one mortgage.

Here's how the loan program works, in general:

Combine Costs: The FHA 203(k) loan lets you bundle the cost of buying a home and the cost of renovations into a single loan. This means you only have to worry about one monthly payment.
Types of Repairs Covered: It covers a wide range of improvements, from minor repairs and updates to major structural work. This includes everything from kitchen remodels and new flooring to fixing the roof or even adding rooms.
Benefits: By using a 203(k) loan, you can buy a home that needs some work and make it your own without needing a separate loan for the renovations. Plus, you can often finance up to 110% of the after-repair value of the home, giving you more flexibility in your projects.

Curious to learn more about how the FHA 203(k) loan can help you turn a fixer-upper into your dream home? We’re here to guide you through the process and answer any questions you might have!

Zach Miller | Loan Officer
M: 417-861-0307 | W: zachmiller.com

I get this question all the time: what is the first step in the homebuying process? Before you start house shopping, getting a pre-approval letter is crucial. It shows sellers you're a serious buyer, helps you understand your budget, and streamlines the buying process. Typically valid for 60-90 days, a pre-approval gives you a clear picture of how much you can borrow. Remember, you don’t have to spend the full amount you’re pre-approved for if it doesn’t fit your financial comfort zone. With a pre-approval in hand, you'll have the confidence to make an offer on your dream home, knowing you’re financially ready. Don’t hit the market without one!

Zach Miller | Loan Officer
M: 417-861-0307 | W: zachmiller.com

Did you know you’re considered a first-time homebuyer if you haven’t owned a property or been on a home loan for three years? This status opens up a range of benefits and opportunities just for you, including our $250 off promotion! This deal will run until 7/31/2024.

Ready to make your move? Let’s talk about how you can take advantage of these perks and find your dream home. 🏡

Zach Miller | Loan Officer
M: 417-861-0307 | W: zachmiller.com

Happy Independence Day! 🇺🇸 Today we honor the spirit of freedom and the joy of being together. Enjoying the holiday with some delicious food, great company, and beautiful fireworks. How are you celebrating?

Zach Miller | Loan Officer
M: 417-861-0307 | W: zachmiller.com

Before you give up on your dream of homeownership, let’s talk about some down payment hacks, starting with your spending habits. A few small adjustments can lead to big savings!

🗝 Evaluate Your Spending Habits

Are there areas where you can cut back without drastically altering your lifestyle? Consider brewing your own coffee instead of buying takeout, or canceling that unused gym membership. Redirect those savings to your down payment fund. Remember, these sacrifices are temporary but will pay off when you’re holding the keys to your new home!

Zach Miller | Loan Officer
M: 417-861-0307 | W: zachmiller.com

Ever felt like owning a home is a pipe dream because you don’t have a traditional 9-to-5? Trust me, it’s not only possible but also entirely doable. Let me break it down for you.

📌 Know Your Numbers: It’s all about income, expenses, and that all-important credit score. Get familiar with your financial situation!

📌 Embrace Paperwork: Tax returns, bank statements, and business financials are your new best friends. Have them ready.

📌 Work with Experienced Professionals: Most mortgage lenders have dealt with self-employed borrowers, they’ll know the ropes!

Curious to learn more? DM me to discover how to make that dream home yours, no 9-to-5 needed! 🏠

Zach Miller | Loan Officer
M: 417-861-0307 | W: zachmiller.com

Thinking about a 2-1 buydown for your mortgage? It can be a smart move if you’re looking to ease into your monthly payments.

A 2-1 buydown lowers your interest rate for the first two years, giving you more manageable payments upfront. This can be especially helpful if you anticipate higher income or financial stability in the near future.

Before making a decision, evaluate your long-term financial plan and consult with a mortgage expert to see if this option aligns with your goals. Ready to explore your options? Let’s chat!

Zach Miller | Loan Officer
M: 417-861-0307 | W: zachmiller.com

A you probably know, a credit score plays a crucial role in determining your monthly mortgage payment, but here’s how it can actually influence your entire financial journey:

Determining Loan Eligibility:
Your credit score reflects your creditworthiness. Higher scores often give you access to a wider range of loan options, increasing your chances of securing a mortgage with favorable terms.

Influencing Interest Rates:
Your credit score directly impacts the interest rates you're offered. A higher score can lead to lower interest rates, resulting in smaller monthly payments.

Impacting Private Mortgage Insurance (PMI):
If your down payment is less than 20%, PMI is usually required. However, a higher credit score can lower your PMI rates, reducing your overall monthly payments.

Maintaining a healthy credit score can significantly improve your financial situation. If you have any questions, feel free to reach out!

Zach Miller | Loan Officer
M: 417-861-0307 | W: zachmiller.com

Wanting to boost your home's value? Here's part 2 of some effective ways to increase your home's value!

-Finish the Basement or Attic: Turning your basement or attic into a livable space (such as a home office, gym, or extra bedroom) increases your home’s usable square footage, which can significantly raise its value. If the room has a window, and a closet, even better!
-Install Smart Home Technology: Items like smart thermostats, smoke detectors, and security systems are increasingly popular and can make your home more attractive to tech-savvy buyers.
-Regular Maintenance: Keeping up with regular home maintenance, such as fixing roof leaks and ensuring the HVAC system is in good working order, prevents problems from worsening and maintains the value of the home.

Some of my recommendations have been DIY and others you'll need to hire a pro - reach out for any help finding someone to check these items off your value boosting list!

Zach Miller | Loan Officer
M: 417-861-0307 | W: zachmiller.com

This Memorial Day, we honor the memory of those who have bravely served and sacrificed for our nation. Your legacy lives on in our hearts.

Speaking of building wealth through real estate, let's talk about ways to boost the value of your current property! Let's break these down into 2 parts!

When the time comes to sell, you'll be thankful you paid attention to these things (some of them are even DIY!) PART 1!

-Remodel the Kitchen: Often considered the heart of the home, updating the kitchen can have a significant return on investment. Even minor updates, like new countertops or cabinetry, can make a big difference.
-Upgrade Bathrooms: Modernizing a bathroom can also boost your home's value. This could be as simple as replacing fixtures and repainting or as involved as a complete overhaul.
-Enhance Curb Appeal: First impressions matter. Landscaping, a fresh coat of paint on the exterior, and a new front door can make your home more appealing and valuable.
-Add Energy-Efficient Features: Installing energy-efficient windows, insulation, and solar panels not only reduces utility bills but also attracts energy-conscious buyers.

What do you think I'll recommend in part 2? Let me know your predictions in the comments section!

Zach Miller | Loan Officer
M: 417-861-0307 | W: zachmiller.com

Building wealth through real estate - how does it work?

One of the most powerful tools for building wealth isn't found in the stock market, but right in your own home (or future home!). Here's why home equity is a key player in wealth creation:

1️⃣ Asset Growth: As you pay down your mortgage and as property values increase, your home equity grows—turning your home into a valuable asset over time.
2️⃣ Financial Flexibility: Home equity can be accessed through loans or lines of credit, providing funds for home improvements, education, or even investing in more property.
3️⃣ Wealth Accumulation: By leveraging home equity wisely, you can plan for a more secure financial future, whether that's upgrading your living situation or planning for retirement.

Interested in learning more about how you can use home equity to enhance your financial standing? Let’s connect!

Zach Miller | Loan Officer
M: 417-861-0307 | W: zachmiller.com

Don't miss out on the chance to save on your first home purchase!

From now until May 12th, we're excited to offer a special $250 credit to eligible first-time home buyers—just make sure to close on your home by November 12th!

Know someone who's looking to buy their first home or thinking about it yourself? I'm here to help make this journey smoother and more affordable.

Zach Miller | Loan Officer
M: 417-861-0307 | W: zachmiller.com

Cinco de Mayo is coming up and I want to know - where is your favorite place to get authentic Mexican food?

Recently I've been a huge fan of Casa Bella! Everything is always so fresh and tastes amazing

It's incredibly rewarding to hear that my approach made a difference. Whether it's your first time or you're adding another chapter to your homeownership story, I'm here to make sure it's a great experience!

Zach Miller | Loan Officer
M: 417-861-0307 | W: zachmiller.com

Turning the key to your new home just got easier! With Fannie Mae and Freddie Mac's HomeReady® and Home Possible® programs, very low-income buyers can now benefit from a $2,500 credit. This extra help with down payment and closing costs could be what you need to cross the threshold into homeownership. Interested in learning more? I'm just a message away! Take note: This offer applies to loans closed between March 1, 2024, and February 28, 2025.

Zach Miller | Loan Officer
M: 417-861-0307 | W: zachmiller.com

Growing your home equity is a smart way to tap into the wealth tied up in your property. It opens doors to use for upgrading your space, clearing costly debts, or even laying the groundwork for your next home purchase. It reflects the value you've added to your home and the effort you've put into paying down your mortgage.

Imagine you snagged your home for $250,000 and have since knocked $100,000 off your mortgage. Thanks to some savvy improvements and favorable market trends, your home's now worth $300,000. The difference between this new value and what you owe, which is $150,000, equals your home equity. In this case, you've got $150,000 at your disposal, a real testament to the value of growing equity.

Curious about leveraging your home's equity? I'm here to help!

Zach Miller | Loan Officer
M: 417-861-0307 | W: zachmiller.com

Ever feel like your space is more cramped than cozy? It might be time to think about upgrading to more space. Here are some things to keep in mind before to make the jump to a property move-up!

Space Jam: If you're doing the shuffle just to find space for your morning workout or your home office is also your dining table, it’s a sign. More room could mean a better quality of life.

Changing Needs: Life changes, and so do our needs. Maybe there's a new baby on the way, you want to start a hobby farm, or you're working from home now. Your home should fit your lifestyle, not the other way around.

Financial Readiness: Before you leap, peek at your finances. Can you afford an upgrade without overstretching? It’s all about finding that sweet spot between desire and practicality.

Thinking of upgrading? I'm here to help you and would love chat about what you’re looking for and make those dreams a reality.

Zach Miller | Loan Officer
M: 417-861-0307 | W: zachmiller.com

Are you feeling anxious about mortgage payments, especially with higher interest rates leading to heftier monthly obligations? You're not alone, but there's a silver lining: you might have the option to refinance into a lower rate and payment down the road. Here are three strategies to help manage that worry in the meantime.

Budget Review: Examine your monthly expenses for opportunities to adjust. Small changes, like reducing subscription services or dining out less, can free up funds for your mortgage.

Emergency Fund: Work on building an emergency fund if you haven't already. This financial safety net can ease anxiety, knowing you have resources set aside for the unexpected.

Open Communication: Contact your lender if you're struggling financially. There may be options such as modified payment plans or refinancing to make your payments more manageable.

I'm here to help if you have questions about buying a home and carrying a mortgage - I would love to chat with you!

Zach Miller | Loan Officer
M: 417-861-0307 | W: zachmiller.com

If you're diving into the housing market it's kind of like catching waves – you gotta know when to paddle out. Here’s the lowdown on market cycles and what I think every homebuyer should keep in their back pocket.

It’s All About Timing: Picture the market moving in waves – prices go up, level out, and sometimes dip. You don’t need to be a pro surfer to catch a good wave, but buying when the competition’s chill can snag you a sweet deal. AKA right now IF homeownership is a possibility for you (call me to check!)

Do Your Homework: Hit the books (or, well, the internet) to check out how the market’s moved in the past. It’s like having a crystal ball that can help you spot the best time to make your move. But be careful, not everyting you see online is true, always check with your lender or agent.

Chat with the Experts: A chat with a local real estate guru can be golden. I know a TON of amazing agents that can help - they’ve got the scoop on what’s happening now and what might unfold, giving you the insider edge.

Getting the hang of market cycles can seriously up your home buying game, letting you ride the wave to your dream home at just the right moment.

Need help navigating it? Let's chat!

Zach Miller | Loan Officer
M: 417-861-0307 | W: zachmiller.com

Home equity, essentially the part of your home that you truly "own," can be a hidden gem in achieving your dreams. Here’s how you can creatively leverage the value of your home.

1. Home Improvements and Renovations: Enhance your living space and increase your property's value by investing your home equity back into your property. Whether it's updating the kitchen, adding an extra bedroom, or transforming your backyard into an outdoor oasis, home improvements can significantly boost your home's market value. Plus, you get to enjoy a more beautiful and functional space while you're still in the home. It's a win-win: you improve your quality of life and potentially increase your home's resale value for the future.

2. Start a Business: Have a brilliant business idea? Your home equity can provide the startup capital you need to turn your vision into reality. It's an investment in your entrepreneurial spirit and future financial independence.

3. Support Education Goals: Whether it's pursuing your own higher education dreams or supporting a family member, using home equity can significantly reduce the financial burden of tuition fees, allowing for a focus on learning and growth.

If you leverage your home equity wisely, you'll have opportunities to enhance your life and potentially achieve your dreams. Always keep in mind that thoughtful planning and consideration of the long-term impacts are key to making the most out of your home's value.

I'm always here to help you navigate anything homeowenrship - reach out with questions!

Zach Miller | Loan Officer
M: 417-861-0307 | W: zachmiller.com

Have you been dreaming about buying a home but your wallet said ‘not yet’? Let’s dive into how you can get the keys to your dream home with little to no money out of pocket. Yeah, you read that right!

🔸 Zero Down Loans: Explore options like VA loans for veterans or USDA loans for rural homebuyers, both offering zero down payment possibilities. Eligibility map in the comments section below!

🔸 Government Assistance Programs: Certain government-sponsored programs help first-time buyers or low-income families with down payments and closing costs.

🔸 Negotiating Seller Concessions: Your Realtor will be able to discuss how to negotiate with sellers to cover some or all of the closing costs, reducing upfront expenses.

🔸 Gift Funds and Grants: Using gift funds from family or qualifying for grants helps a lot of buyers with the initial costs.

With the right approach and knowledge of available resources, it’s a dream that could become your reality. Let’s chat and start your journey to homeownership without the financial stress.

Zach Miller | Loan Officer
M: 417-861-0307 | W: zachmiller.com

Congratulations to Loralei who recently closed on her brand new home 😎 Thank you for trusting me to walk you through the process.

Navigating your mortgage or even the home buying process can feel like a maze, but I’m here to help you find your way. Before you dive in, be sure to ask your lender these questions:

1️⃣ “How long will the loan process take from application to closing?” – This helps you plan your move or any other related activities. And besides, who doesn’t like a timeline to plan around?

2️⃣ “Are there any prepayment penalties on the mortgage?” – Knowing this can affect how you plan to pay off your mortgage over time. This is especially important to know!

3️⃣ “How will changes in the market affect my mortgage rate, and is it possible to lock in a rate? If so, how long will the rate be locked?” – This helps you understand your financial commitment and how market changes could impact it

Knowledge is power, especially when it comes to home loans. Let’s chat and make sure you’re equipped with all the right info.Send me a message to get started.

Zach Miller | Loan Officer
M: 417-861-0307 | W: zachmiller.com

If you're thinking of your home as just bricks and mortar, there's a lot more to it. It’s your sanctuary, your investment, your piece of the world.

I want to talk about the 7 key steps to keep it safe and secure:

1️⃣ Robust Home Insurance: Cover the basics – fire, theft, natural disasters. It’s the safety net your home deserves.

2️⃣ Mortgage Protection Plans: For those ‘just in case’ moments, ensure your investment is secure, come what may.

3️⃣ Consistent Maintenance: THIS ONE IS KEY! A well-maintained home is a protected home. Regular checks can save you big headaches later.

4️⃣ Upgrade Your Security: Think locks, alarms, and smart systems. Peace of mind is worth every penny.

5️⃣ Be Emergency Ready: Have a plan, an evacuation route, and emergency supplies. It’s always better to be over-prepared.

6️⃣ Legal Safeguards: Keep your property documents updated and consult legal experts when needed.

7️⃣ Leverage Smart Technology: From real-time alerts to remote monitoring, smart tech adds an extra layer of protection.

Let’s keep your investment safe and sound. And if you’re in the market for a mortgage, thinking about refinancing, or simply curious about how much home you can afford…. comment below and we can chat!

Zach Miller | Loan Officer
M: 417-861-0307 | W: zachmiller.com

If you could change one thing about your current house, what would it be?

Mine would be the outdoor living space!

Let me know what you'd change about your home!