Jimmy Smith
Loan Officer
NMLS#
2038961
Branch Address
911 Military St Port Huron MI 48060
Phone
Cell: (810) 202-6206
Office: (810) 488-8120
Social
Meet Jimmy Smith, a seasoned Loan Officer who transitioned into the mortgage industry in 2020 following a heartfelt decision prompted by his experience as a Registered Nurse and his mother’s battle with cancer. Motivated by a desire for change, he took the advice of a friend who was in lending and became a licensed Loan Officer. While no longer in health care, Jimmy quickly learned he is still able to help others and impact lives through homeownership.
Licensed in 13 states, he primarily serves clients in Michigan, Texas, and Florida. Although he works with all types of borrowers and has experience originating conventional, USDA Rural Development, FHA, VA, and Jumbo loans, he especially enjoys working with first-time homebuyers.
He has extensive knowledge of state and national down payment assistance programs such as the Texas State Affordable Housing Corporation (TSAHC) down-payment assistance initiatives, SETH programs, the Michigan State Housing Development Authority (MSHDA) programs, the Florida Housing Finance Corp loan programs, the Chenoa fund, and the National Down Payment Assistance program. Because of his expertise in first-time homebuyer loans and down payment assistance programs, Jimmy helps his clients eliminate the barrier to homeownership and get those coveted keys in hand!
With a naturally calm and relaxed demeanor, Jimmy aims to alleviate the stress that comes with a big financial decision. He ensures his clients feel supported throughout the mortgage process by providing clear and prompt communication, education on available loan options, and a little bit of fun along the way!
As a dedicated husband and father of two, he works hard for his family and his clients and appreciates how important home is. He will help his clients achieve their homeownership goals no matter how long it takes. He truly shares in his client’s sense of pride and excitement when he can navigate the market in a way that helps his clients save money and achieve the American dream of owning a home.
If you are ready to make a move, but don’t know where to start, contact Jimmy Smith!
I am here to serve you and to tailor a loan that meets your needs.
Mortgage Programs Explained
There is no one-size-fits-all when it comes to mortgage lending. MiMutual has numerous loan options to fit every budget and situation. At MiMutual Mortgage, you can expect a one-on-one consultation to determine the right loan program for your unique situation.
A Conventional loan is a mortgage not guaranteed by the government. However, most conventional loans will follow the guidelines established by Fannie Mae (FNMA) and Freddie Mac (FHLMC). This type of loan is good for borrowers with a favorable credit score and allows more flexibility in loan terms and higher loan limits.
Unlike FHA, VA or RD loans, conventional loans do not require private mortgage insurance (PMI) unless the borrower has less than 20% down. 20% down however, is not a requirement and some conventional loans allow as little as 3% down! Once the loan reaches 20% equity, PMI can be canceled.
In addition to standard conventional loan programs, MiMutual Mortgage also offers the following niche conventional loan programs:
- Fannie Mae HomeReady
- Freddie Mac Home Possible
- Freddie Mac HomeOne
- Freddie Mac Refi Possible
like FHA, VA or RD loans, conventional loans do not require private mortgage insurance (PMI) unless the borrower has less than 20% down. 20% down however, is not a requirement and some conventional loans allow as little as 3% down! Once the loan reaches 20% equity, PMI can be canceled.
In addition to standard conventional loan programs, MiMutual Mortgage also offers the following niche conventional loan programs:
- Fannie Mae HomeReady
- Freddie Mac Home Possible
- Freddie Mac HomeOne
- Freddie Mac Refi Possible
Government loans are backed by the federal government. The loan is funded or originated by the mortgage company, but has a guarantee from either the Federal Housing Administration (FHA), USDA Rural Development (RD), or US Dept of Veterans Affairs (VA).
Government loans open the door for borrowers that have little to no money saved for a down payment, a challenging credit history or have lower credit scores. Government loans offer easier qualifying requirements and are widely used in the industry.
Government-insured loans can be used for purchase, renovation (through the FHA 203(k) loan), or refinance transactions.
Government loan programs include:
- Federal Housing Administration (FHA)
- USDA Rural Development (RD)
- Veterans Affairs (VA)
The Federal Housing Finance Agency (FHFA) sets a limit on the dollar amount a conventional loan must conform to. Any loans beyond this limit are known as a Jumbo loan. With a Jumbo Loan from MiMutual, you can expand your options and find your dream home that will meet your needs now and in the future.
MiMutual Mortgage offers a number of Jumbo Mortgage Programs to fit a variety of situations. These include Purchase loans, Asset-Qualifier, Rate and Term and Cash-Out Refinance loans.
Highlights include:
- As little as 10% down
- Loan amounts up to $4 Million
- Primary residence, second homes, and investment properties are eligible
MiMutual Mortgage offers a number of Jumbo Mortgage Programs to fit a variety of situations. These include Purchase loans, Asset-Qualifier, Rate and Term and Cash-Out Refinance loans.
Highlights include:
- As little as 10% down
- Loan amounts up to $4 Million
- Primary residence, second homes, and investment properties are eligible
Don’t have much saved for a down payment?
We can help with that!
Down Payment Assistance (DPA) can:
- Reduce out of packet cash to close
- Put cash savings to work by improving the home and growing equity
- Free up cash to pay down student loan debt or other bills
- Save cash to start investing for the future
MiMutual Mortgage offers a number of down payment assistance programs including:
- Chenoa Fund DPA for FHA financing
- The National DPA for Conventional financing
- State Housing Finance Authority DPA and MCC
MiMutual Mortgage is a Renovation Loan specialist. We were even featured on the Lifetime Network “Designing Spaces” home design television show! With a Renovation loan, you can bundle the cost of purchasing or refinancing with the cost of renovation into one single loan!
MiMutual Mortgage offers the FHA 203k and Conventional HomeStyle renovation loans. These allow for the same qualifying factors as a traditional FHA or Conventional loan with the ability to lend up to the estimated after-improved value of the home!
Eligible renovations include:
- Small repairs with a minimum renovation cost of $5,000
- Kitchen remodels including appliances
- New roof
- Additions
- New flooring
- Instillation of an in-ground pool
Still not finding what you are looking for?
MiMutual Mortgage has a number of unique loan programs including:
- Qualifying on assets without income
- Real Estate Investor programs including DSCR
- Self-Employed financing options
- Bank statement qualifying
Start Your Mortgage Journey
You are about to begin the mortgage loan application
- Applying on the MiMutual Mortgage Online Loan Application is quick, easy, and secure! The loan application will take about 25 minutes to complete.
- Once your application is submitted, you can log back into the MiMutual Mortgage Online Loan Application to securely upload requested documents, view your loan status, and communicate with your mortgage team.
- If you have questions, reach out to your MiMutual Mortgage Loan Officer.
Your guided mortgage journey starts here!
Start Application