Brent Bowers, Gershman Mortgage

Home
United States
Springfield, MO
Brent Bowers, Gershman Mortgage

Mortgage Loan Officer at Gershman Mortgage, Springfield Brent Bowers NMLS #1204421. I love being able to help people with the largest purchase of their lives.

I have over 10 years of experience in the Mortgage Banking industry, and have worked at Gershman Mortgage for 10 years. I want to give them the service they need, and I want to help make them feel comfortable throughout the whole process. Gershman Mortgage NMLS #138063
Equal Housing Lender

10/25/2024

Want to build equity and increase your home’s value quickly? Making strategic upgrades is a great way to do just that. Whether you’re a new homeowner or looking to add value to your current property, well-chosen improvements can significantly enhance your home’s worth. From minor cosmetic changes to larger renovations, investing in the right areas can help you gain instant equity.

Key points could include:

Which home upgrades deliver the best ROI (kitchen remodels, bathroom updates, and curb appeal enhancements)
The advantages of energy-efficient improvements
How to prioritize upgrades based on your budget and goals

Brent Bowers | Loan Officer
M: 417-848-3033 | W: bbowers.gershman.com

10/18/2024

Who bought a home between 2020 and 2022 and is ready for an upgrade but holding off for lower rates? 🙋‍♂️🙋‍♀️

If you’re waiting for rates to drop before making your next move, you’re not alone! While waiting for the perfect moment seems smart, predicting rate changes can be tricky. Instead of letting interest rates hold you back, let’s explore all your options now. Whether you’re considering refinancing later, finding a home that better fits your current needs, or discussing ways to manage higher rates, I’m here to guide you.

Don’t let interest rates stop you from getting the home you want—reach out and let’s start planning!

Brent Bowers | Loan Officer
M: 417-848-3033 | W: bbowers.gershman.com

10/11/2024

Looking to build equity from day one of homeownership? It’s not only possible but can be a smart financial move to start with equity right after you close on your new home. Whether you’re a first-time buyer or upgrading to a bigger property, creating instant equity can set you up for long-term financial success and greater flexibility in the future. Here are some smart strategies that can help you create instant equity when buying a home:

Look for homes priced under their market value, whether due to a motivated seller, minor cosmetic issues, or being in an area where values are rising. Buying below market price instantly gives you a financial advantage.

Negotiate a Lower Purchase Price
During the negotiation process, aim to secure a deal below the asking price. The less you pay compared to the home's actual value, the more instant equity you’ll have upon closing.

Make a Larger Down Payment
The more you put down upfront, the more equity you start with. A larger down payment reduces the amount you need to borrow, giving you a greater ownership stake from the beginning.

Invest in a Fixer-Upper
Buying a home in need of some updates or repairs can help you build equity quickly. With smart renovations, you can increase the home’s value, boosting your equity as you improve the property.

Choose Up-and-Coming Neighborhoods
Buying in an area that’s on the rise—where home values are expected to grow—can generate instant equity as property values appreciate soon after you buy.

These strategies can help you start building wealth through homeownership right from day one. Ready to explore your options? Let’s chat!

Brent Bowers | Loan Officer
M: 417-848-3033 | W: bbowers.gershman.com

10/04/2024

Navigating the home buying process from the very beginning can feel overwhelming, but I’m always here to answer your questions and make the journey as smooth as possible. Thank you for trusting me to guide you through it all! 🏡

09/25/2024

Buying your first home can be a big step, and I’m so grateful to have been part of Ying’s journey! Providing quick responses and patient guidance is what I’m here for, especially for first-time homebuyers. It’s all about making sure you feel confident and supported throughout the entire process. 🏡

09/18/2024

Ready for another crucial term to learn when it comes to the mortgage process? Loan-to-Value Ratio or LTV is a big part of the process- here’s what you need to know:

What is LTV?: LTV stands for Loan-to-Value Ratio. It’s a financial metric that compares the amount of the mortgage loan to the appraised value of the property. For example, if you’re buying a home valued at $200,000 and you’re taking out a $160,000 loan, your LTV ratio is 80%.

Why Does LTV Matter?: Lenders use LTV to assess the risk of the loan. A lower LTV ratio indicates less risk for the lender, as the borrower has more equity in the property. Typically, lenders prefer an LTV ratio of 80% or lower.

How to Improve Your LTV: To lower your LTV ratio, you can make a larger down payment or choose a property with a lower purchase price. A lower LTV can help you secure better mortgage terms and avoid private mortgage insurance (PMI).

Understanding both DTI and LTV can give you a clearer picture of your financial health and help you make informed decisions when buying a home. Have questions about LTV or need personalized advice? We’re here to help!

Brent Bowers | Loan Officer
M: 417-848-3033 | W: bbowers.gershman.com

09/11/2024

If you're in the process of buying a house, you've probably heard the acronym DTI. Scratching your head yet??

DTI stands for Debt-to-Income Ratio. It is a key financial metric used by lenders to determine a borrower's ability to manage monthly payments and repay debts. The DTI ratio compares your monthly debt payments to your gross monthly income.

Here’s a quick breakdown:

Front-End DTI: This ratio compares your monthly housing costs (mortgage payments, property taxes, insurance) to your gross monthly income.
Back-End DTI: This ratio compares your total monthly debt payments (including housing costs, credit card payments, car loans, student loans, etc.) to your gross monthly income.

Lenders use the DTI ratio to assess the risk of lending to a borrower. A lower DTI ratio indicates a better balance between debt and income, making it easier to qualify for loans. Generally, lenders prefer a back-end DTI ratio of 43% or lower, though requirements can vary based on the lender and type of loan.

If you've got any questions on DTI, how it's calculated or how to lower yours, let's chat! I'd love to be a resource to you through this process.

Brent Bowers | Loan Officer
M: 417-848-3033 | W: bbowers.gershman.com

09/01/2024

No Sunday scaries in sight! Enjoy the last long weekend of the summer! Happy Labor Day to all the hard workers out there.

08/14/2024

Next up on the list to help self-employed borrowers tackle homeownership - getting the best interest rate and managing your money.

Securing Favorable Loan Terms: Self-employed borrowers might face higher interest rates or stricter terms, based on what we talked about in part 1, inconsistent pay and high DTI. Boost your credit score can make a world of difference- do this by paying bills on time, reducing high interest debt, and fixing any errors on your credit report. A higher credit score can help you get better loan terms!

Managing Cash Flow: Inconsistent cash flow can make it tough to save for a down payment. Setting up a separate savings account just for your down payment AND automating those monthly contributions is a game changer! Most banks allow you do to this now. It’s the most simple way to ensure steady progress.

Stay tuned for my final tip on understanding tax deductions! If you ever need help with understanding how to secure better loan terms or manage your cash flow, I'm here to help.

Brent Bowers | Loan Officer
M: 417-848-3033 | W: bbowers.gershman.com

08/07/2024

Are you self-employed and thinking about buying a home?

We know it can feel a bit daunting based on common challenges, but we’re here to help explain what need to be done to make the process smoother for you!

Challenge #1- Proving Stable Income: Unlike traditional employees, self-employed borrowers don’t have W-2s to show consistent income. My best recommendation it to make sure to keep detailed financial records, including two years of tax returns, profit and loss statements, and bank statements. Having a CPA prepare these documents can add credibility and make things easier.

Challenge #2- Managing Debt-to-Income Ratios: Fluctuating income can sometimes lead to higher debt-to-income (DTI) ratios. Try to pay down existing debts, like high credit card balances, to lower your DTI ratio and consider ways to increase your income streams if possible.

I've got more tips coming up to help you navigate these challenges! If you have questions about proving your income or managing your DTI, reach out to us for help anytime.

Brent Bowers | Loan Officer
M: 417-848-3033 | W: bbowers.gershman.com

08/01/2024

As the new school year approaches, we want to give back to our incredible educators!

Teachers and eligible staff at K-12 schools or degree-granting colleges/universities can receive a $250 closing cost credit when purchasing a primary residence through Gershman. Apply between now and September 2nd, 2024, to take advantage of these savings.

Brent Bowers | Loan Officer
M: 417-848-3033 | W: bbowers.gershman.com

Address

1557 E. Primrose Street Suite 100
Springfield, MO
65804

Telephone

+13148890600

Website

http://www.gershmanmo.com/brent

Alerts

Be the first to know and let us send you an email when Brent Bowers, Gershman Mortgage posts news and promotions. Your email address will not be used for any other purpose, and you can unsubscribe at any time.

Shortcuts

Want your business to be the top-listed Finance Company in Springfield?