Frontier Mortgage

Writing an Offer Letter When Buying a New Des Moines Home

Tue, 27 Oct 2026 07:27:00 -0500

The Des Moines real estate market is always competitive, and if you want to best some of that competition, writing an offer letter might be just the thing. This shows the sellers that you’re serious, and adds a personal component to the transaction, immediately setting you apart from other bidders. Here’s how to do it:

Be Sincere

Your main goal is to establish a connection with the sellers, so you’ll want your personality to come through. Your offer letter doesn’t need to be formal or professionally written, you just want to take a moment to send a personal note expressing your interest in the home. Provide the sellers with a little information about you and your family and let them know what it is you like— or love —about their property.

Share Your Plans

Can you already picture family dinners in the beautiful dining room or summer gatherings in the backyard? These are the sort of details you’ll want to share with the sellers. Go light on any talk of renovation — some sellers have a strong, emotional attachment to their homes and might not welcome any images of drastic change.

Find Common Ground

Take time out to do a little research and see what you might have in common with the sellers. You may both have an affinity for gardening, or maybe you’re both raising young children. Discovering any areas of common ground can help strengthen your connection. Ideally, after reading your letter, the sellers will feel like they know you.

Keep it Short

Finally, the sellers don’t need your entire life story to make the connection. An unnecessarily long letter won’t always help your case. Try to make sure the letter will only take a couple minutes to read at most. This shows that you’re respectful of their time and you’ll still have plenty of space to make your case.

Writing an offer letter doesn’t take much time, but it could have a big impact on the sellers.

If you’d like a recommendation for an experienced, local Realtor, or if you need to get pre-approved for a mortgage, please reach out to us. We’re always happy to help.

Are You Part of an Unmarried Couple Planning to Buy a Chicago Home?

Tue, 27 Oct 2026 07:18:00 -0500

Buying a home is an exciting endeavor for couples, regardless of marital status. But if you’re an unmarried couple looking to purchase a home in Chicago together, you should know there are some key points to consider prior to making the big decision. Let’s dive into what unmarried couples need to know before they purchase their first home in Chicago.

Understand Ownership Rights and Responsibilities

Early on, it is important to understand exactly what each partner’s ownership rights and responsibilities are when it comes to the property. This is especially true if one partner will not be residing in the house. An attorney can help both parties draft an agreement that spells out who owns how much of the house, which partner is responsible for paying certain bills or making certain decisions, and more. It’s important that both partners feel comfortable with the terms outlined in this agreement before signing off on it.

Know Your Tax Implications

Although taxes are usually secondary to most individuals when considering a purchase such as a house, it’s important to understand all the tax implications associated with buying a home as an unmarried couple. There may be tax benefits associated with homeownership that single people don’t have access to – such as mortgage interest deductions or capital gains exclusions – so understanding these benefits can help ensure you aren’t missing out on anything when tax season comes. Additionally, depending on how the home is titled (in both individuals’ names or just one person’s name), there could be different tax implications worth exploring further with your accountant or financial advisor.

Choose Your Financing Option Wisely

The way you finance your new home will make a big difference down the road, so it’s important for you to choose your financing option wisely. If both individuals qualify for mortgages separately, then getting two separate loans may be more beneficial than seeking out other financing options – such as taking out a joint loan together, or getting one loan in only one person’s name and having another person cosign it. Each financing option has its own pros and cons, so it makes sense to do your research ahead of time and choose whichever option works best for your particular situation – both now and long-term.

Purchasing a home is always exciting, but unmarried couples need to do some additional planning in advance. That being said, all couples need to keep certain things in mind before diving into homeownership. Understanding ownership rights and responsibilities between partners, being aware of any potential tax implications, and choosing your financing option wisely are all key points for unmarried couples in Chicago who want to buy a house together. Make sure you do your homework now so you can save time (and money) down the road.

If you’d like some recommendations for experienced, local Realtors, or if you need to get preapproved for a mortgage, please reach out to us. We’d love to help.

Growing Older Successfully in Your St. Louis Home

Tue, 27 Oct 2026 07:10:00 -0500

Many St. Louis homeowners are currently living in their dream homes and wouldn’t ever think about leaving. But as we get older, our homes may need some modifications to improve safety. Or maybe aging in place isn’t something you’re considering yet for yourself, but you’re concerned about an older parent or family member. Whatever the case, safety and accessibility need to be addressed as we age. Here are some tips to age in place at home safely and successfully:

Stairs

One of the biggest challenges for older homeowners is navigating the stairs — inside and out. With multiple trips up and down stairs every day, it’s important to properly assess any risk. If only a bit more stability is required, make sure the railings are secure and easy to use. The stairwells also need to be properly lit and the light switches should be accessible at both the top and bottom of the steps. If climbing the stairs begins to pose a problem, consider installing a stairlift to guarantee safety.

Bathroom

The average bathroom is full of slippery surfaces, and protecting against falls is one of the most important safeguards when aging in place. One simple solution is to add grippy bathmats to the floor of the tub and any other surface that can get slippery. Adhesive strips will also help add another layer of protection. A tub and shower chair (like this one) can be very useful, along with hand bars for support.

Lighting

We covered improving the lighting in the areas containing stairs, but bright lighting is a good idea everywhere. Adequate lighting is particularly helpful for someone getting up in the middle of the night to go to the kitchen or bathroom. They need to be able to see their path clearly. Installing additional lighting or even upgrading to automatic motion-sensor lights can make a big difference. The outdoor lighting should be addressed as well — make sure the driveway and any paths to the house are very well lit.

Entryway

After the lighting has been checked and modified wherever necessary, the entryway itself deserves some additional thought. Is there a way to access the home that doesn’t require using stairs? Could you create this option by installing a ramp? Having a plan in place will make it easier to navigate any challenges as they arise.

Maintenance

Finally, to successfully age in place, you need to develop a protocol for maintenance. Think about things like lawncare, snow removal, AC and chimney inspections, and gutter cleaning. These are just a few areas that will need regular attention they may be beyond the capabilities of the homeowner. Making connections with the right professionals and scheduling everything in advance will make sure the maintenance is taken care of when it should be — and will help make the home a safer place.

If you’d like to talk more about aging in place, or if there’s another matter we can be of assistance with, please get in touch. We’re always happy to help.

Do You Know Your DTI (debt-to-income ratio)?

Fri, 09 Oct 2026 07:41:00 -0500

As a prospective homebuyer in the Des Moines area, understanding the intricacies of the mortgage loan process is crucial to making informed decisions. One of the most important factors that lenders consider when evaluating mortgage applications is the Debt-to-Income (DTI) ratio. The DTI ratio plays a significant role in determining loan eligibility and interest rates, making it essential for you to grasp its implications. Let’s explore what the DTI ratio is, how to calculate it accurately, and its impact on your Des Moines mortgage application.

Understanding Debt-to-Income (DTI) Ratio

Your DTI ratio is a financial metric that compares your monthly debt obligations to your gross monthly income. It serves as a crucial factor for lenders when evaluating your mortgage application because it reflects your ability to manage additional debt responsibly. To calculate your DTI ratio, add up all your recurring monthly debts, such as credit cards, student loans, car payments, etc. Next, divide the total by your monthly income before taxes and deductions. Multiply that result by 100 to express it as a percentage. For instance, if your total monthly debts amount to $2,000, and your gross monthly income is $6,000, your DTI ratio would be 33.33%.

The Importance of a Healthy DTI Ratio

A healthy DTI ratio is crucial in the mortgage approval process, as it directly impacts the level of risk you pose to lenders. Lenders typically prefer borrowers with lower DTI ratios, as it indicates a more manageable level of debt. A lower DTI ratio also signals that you have sufficient disposable income to cover your mortgage payments comfortably. While lending criteria may vary among different mortgage products and lenders, a DTI ratio of 43% or lower is generally considered favorable for conventional mortgages. Government-backed loans like FHA or VA loans may accept higher DTI ratios, sometimes up to 50%. However, keeping your DTI ratio as low as possible is always a prudent financial move.

Calculating DTI for Mortgage Approval

When applying for a mortgage in Des Moines, it's essential to know how your DTI ratio affects your eligibility. Most lenders use the 28/36 rule for conventional mortgages. This means your housing expenses, including the mortgage principal, interest, taxes, and insurance, should not go above 28% of your gross monthly income. Additionally, your total monthly debt, including your housing expenses, should not surpass 36% of your gross income. To ensure you meet these guidelines, use a mortgage affordability calculator or consult with a mortgage loan officer to evaluate your financial standing accurately.

Improving Your DTI Ratio

If you find your DTI ratio is higher than desired, don't fret! There are steps you can take to improve it before applying for a mortgage. Start by focusing on reducing your monthly debt obligations. Consider paying off small loans or credit cards with higher interest rates, and avoid taking on new debt during this time. Increasing your income can also positively impact your DTI ratio. While it might not be feasible to get a significant pay raise immediately, exploring additional income streams, such as freelance work or part-time jobs, can make a difference.

As you embark on the exciting journey of homeownership in Des Moines, remember that a healthy DTI ratio not only improves your chances of loan approval, but also sets you up for a successful and stress-free experience. Having a clear understanding of this critical aspect of the mortgage process will help you be better prepared to take the next steps in purchasing your dream home.

How Much Can Mortgage Points Help Chicago Homebuyers?

Fri, 09 Oct 2026 07:31:00 -0500

As a prospective homebuyer in the city of Chicago, understanding the intricacies of mortgage financing is crucial before embarking on your homeownership journey. One aspect that often comes up in mortgage discussions is "mortgage points." Let's dive into a quick overview on this topic and get some information that will help you navigate the complexities of mortgage points – potentially saving you thousands of dollars in the long run.

What are Mortgage Points?

When discussing mortgage loans, "points" refer to a one-time fee paid at closing to the lender in exchange for a lower interest rate on the loan. Each point typically costs 1% of the loan amount, and they can either be paid upfront or rolled into the mortgage. By paying points, you can reduce the interest rate over the life of the loan, resulting in lower monthly payments. It's important to evaluate whether paying points aligns with your financial goals, as the upfront cost of points can significantly impact your closing costs.

Two Kinds of Mortgage Points

There are two kinds of mortgage points. One is referred to as "discount points," and the other is called "origination points." Discount points will let you "buy down" your interest rate, whereas origination points are fees charged by the lender for originating the loan. Discount points directly affect your interest rate, while origination points cover the lender's administrative costs. It's essential to carefully review the loan estimate and understand which points are being offered to determine their impact on your overall loan terms.

Weighing the Pros and Cons

Deciding whether or not to pay mortgage points depends on various factors, including how long you plan to stay in your home and your financial situation. If you plan to live in the home for an extended period, paying points could be beneficial as you'll have more time to recoup the upfront cost through lower monthly payments. However, if you anticipate selling the property within a few years, it may not be cost-effective to pay points. Of course, your current financial situation also factors into this decision; if you have limited upfront funds, paying points might not be feasible.

Calculating the Break-Even Point

To determine whether paying mortgage points makes financial sense for you, it's crucial to calculate the break-even point. This is the point at which the monthly savings from the lower interest rate surpass the upfront cost of the points. You can divide the cost of the mortgage points by the monthly savings to find out how many months it will take to recoup the upfront expense. If you plan to stay in the home beyond the break-even point, paying points can be financially advantageous.

When searching for the right mortgage in Chicago, it's important to educate yourself about mortgage points so that you can make informed decisions. By understanding the different types of points, weighing the pros and cons, and calculating the break-even point, you can navigate the mortgage landscape more confidently. Of course, every homebuyer's situation is unique, so be sure to consult with a qualified mortgage professional to evaluate your options thoroughly and help you choose the mortgage that best fits your needs and ensures a successful homeownership journey!

If you’d like to talk more about mortgage points, or if there’s anything else we can be of assistance with, please reach out to us. We’re always happy to help.

Can You Get Approved for a St. Louis Mortgage After a Bankruptcy?

Fri, 09 Oct 2026 07:25:00 -0500

If you're dreaming of buying a home in St. Louis but you've gone through a bankruptcy, you may be wondering if homeownership is still possible. The good news is that with the right preparation, you can still get approved for a mortgage in St. Louis even after bankruptcy. Here's what you need to know.

What is Chapter 13 Bankruptcy?

Chapter 13 bankruptcy allows people who have regular income to keep property, like a house or car, while catching up on debt through a 3-5 year repayment plan approved by the bankruptcy court. This type of bankruptcy stays on a credit report for seven years. However, it's better for your credit than Chapter 7 bankruptcy, which completely liquidates assets to pay off debt and stays on your credit for 10 years. With Chapter 13, you get to keep your property by agreeing to make payments over time until debts are paid off. This demonstrates to lenders that you are committed to honoring your financial obligations.

How Chapter 13 Bankruptcy Affects Mortgage Approval

There's no getting around the fact that having a bankruptcy on your record will make getting a mortgage more challenging. Mortgage lenders view borrowers with recent bankruptcies as higher risk. You'll have a harder time getting approved, and you may not qualify for the lowest interest rates. Nevertheless, Chapter 13 bankruptcy is not necessarily an automatic disqualifier for a mortgage. Here are a few key factors that lenders will consider:

Time since bankruptcy discharge is an important factor. The longer it's been since your Chapter 13 case was discharged, the better. Most mortgage lenders want to see at least two years since discharge before approving a loan. This gives you time to reestablish your credit. Your post-bankruptcy credit history is also important. What have you done credit-wise since your bankruptcy? Opening new credit accounts responsibly and maintaining on-time payments will help offset the negative impact of bankruptcy. Lenders want to see you using credit wisely after bankruptcy. Also, expect to be required to make a down payment of at least 10-20% if you're applying for a mortgage close to your bankruptcy discharge.

How to Improve Your Mortgage Chances After Chapter 13 Bankruptcy

While your bankruptcy history can't be erased, there are some steps that you can take to rebuild your credit profile and put yourself in the best position to get approved for a St. Louis home loan. Waiting at least 12-24 months after bankruptcy discharge before applying will give you time to reestablish credit. Get current on all your bills and avoid late payments. Make all credit and loan payments on time, every time. This shows lenders you can handle payments responsibly. Keep credit card and revolving debt low, as high balances raise red flags. And save up for a sizeable down payment of at least 10-20%. More is better – big down payments reassure lenders.

Consider talking to a local HUD-approved housing counselor for guidance on getting pre-approved after a Chapter 13 bankruptcy. With diligence and patience, you can absolutely bounce back from this unfortunate situation and buy a home in St. Louis. Rebuilding credit takes time, but stay focused on responsible money management and use credit wisely after bankruptcy. With the right approach and persistence, homeownership can still be within your reach!

If you’d like to see about getting pre-approved for a mortgage, you can do that here. We would also be happy to recommend some experienced, local Realtors to help you in the homebuying process. Just reach out to us — you can find all of our contact information at https://www.frontierhomemortgage.com/contact-us/

Questions to Ask Your Des Moines Seller's Agent Before Listing

Tue, 22 Sep 2026 09:35:00 -0500

If you’re planning to sell your home and you want a speedy sale coupled with the best price, you should be working with a Realtor; but not all Realtors are equal. So, how do you find the best agent to represent you and meet those goals we mentioned above? You ask them questions — the right questions. Here are a few questions to ask that will help you make sure you’re working with the best possible Realtor:

Which Areas Do You Work In?

Some Realtors are very specific, becoming experts on single neighborhoods; and then there are others that work across very large areas, like entire states. Everything depends on your unique needs, but it’s best to find one that falls in the middle. Having too wide a range can be problematic because it can be hard to cover a whole state while also having in-depth knowledge of local markets. Alternatively, a neighborhood expert may be good, but only if you’re looking in that (or those) neighborhoods. Try to find someone who works both in and around your primary area of interest.

How Many Homes Have You Sold in the Last Year?

Realtors often measure their success by their number of listings, but you should measure their effectiveness by their number of sales. You want to work with someone that has a consistent track record of sold houses.

How Long Do Your Listings Stay on the Market?

Sometimes having listings with a shorter time on the market is a good thing, and sometimes it’s cause for further exploration. If the average time on the market is faster than the average selling time for the surrounding neighborhood, you should ask why. It could be that the Realtor is impressively effective, or it could be that they’re low-balling the asking price. Look at the difference between original asking price and what the house sold for. That will let you know how good the agent is at getting the right asking price, or at least in the ballpark.

Are You Part of a Team?

It’s important to know whether your Realtor works as part of a team because communication is imperative when you’re selling your home. The relationship between you and your agent needs to be defined from the start, especially if there’s a team involved. There are many benefits to working with a team, starting with the combined experience of everyone involved. When one person doesn’t have specific knowledge of a situation, someone else on the team probably does. However, you need to know up-front how the team will operate. Will you meet with different people for different things at different times? Will there be a designated point-person? You don’t want to be develop a relationship with one agent, only to be shuffled off to someone else later on.

Before you select an agent to represent you, ask them these questions (and any others you have). You’ll have more confidence in your choice once you get the additional information.

If you’d like a recommendation for some local Realtors to interview, or if you need to get pre-approved for a mortgage, please reach out to us. We’d love to help in any way we can.

Are You Considering Downsizing Your Chicago Home?

Tue, 22 Sep 2026 09:30:00 -0500

Sometimes we realize that we have more space than we need — maybe the kids have moved out, or you could just have a couple of unused bedrooms and it feels wasteful. Whatever the case, if you’re planning to downsize, you might want some direction on how to do it as smoothly as possible. Here are some things to keep in mind:

Decide What You’re Bringing with You

This is something to think about before you begin looking for a new living arrangement. When we decide to downsize our home, we often want to downsize our possessions as well. Packing everything and moving it to the new space can make the move-in unnecessarily unpleasant. You definitely don’t want your new home stuffed completely full, so instead spend some time thinking about what to bring with you. Once decided, you’ll have a clearer idea of the actual space you’ll need.

Will Your Current Furniture Work?

Depending on how much smaller the new space is, you may have to seriously assess your furniture situation. As I mentioned earlier, you don’t want a full-to-the-brim living space, so you may want to considerer swapping out any large or bulky furniture for something more appropriate for a smaller space.

List Your Challenges

In the case of downsizing, most of us will run into a few challenges. If you can, try to list these potential challenges in advance. Maybe it’s family heirlooms or sentimental items from when the kids were young that you can’t imagine living without. Think about which belongings are too big to take but you’re reluctant to let go of. You don’t need to embrace full minimalism to downsize successfully, but thinking about how you’ll deal with any obstacles in advance can prevent emotions from taking over.

Embrace Digital Tools

When we know our challenges in advance, it allows us to begin looking for a solution. Here’s an example: You have an enormous collection of framed family photos and there’s no way you’re going to be able to display them all in the new space. Choose the ones you can’t live without day-to-day, then digitize the others. They’ll be perfectly protected and preserved, and you can always print them again if you choose to. Digitizing also makes them easier to share. By embracing technology and saving your photos, you’re saving physical space in the new home while holding onto something valuable and irreplaceable.

Downsizing can be a breath of fresh air if our current living space has grown too big for us. With these tips, you’ll have an easier time making the move successfully.

If you need a recommendation for a local Realtor, a moving company, or you need to get pre-approved for a mortgage, please reach out. I’d be happy to help in any way I can.