Add 10 points to your credit score

Tue, Mar 9, 2010

Mortgage Loan

Here is a helpful tip from a smart loan officer – Ryan Halldorson.  His contact info is below if you need some advising about getting a mortgage loan. -Becky

Want to add roughly 10 points to your credit score and get a lot less junk mail?  Logging in to www.optoutprescreen.com will keep Experian/Equifax/TransUnion from selling your credit information to credit card and insurance companies that in turn offer pre-approved credit card and insurance offers to you.  The credit scoring formulas view “opting out” positively since it removes the constant temptation of obtaining new debt.  This results in higher credit scores according to most credit experts.  The government forced the credit bureaus to offer this choice to consumers. Along the same lines, the government requires that Experian/Equifax/TransUnion give you a copy of your credit report for free once per year via www.annualcreditreport.com or 877.322.8228.  They will charge you $10 to give you a score but they each have to give your report for free.  This service is also the best mechanism to dispute inaccurate information on your credit report.

Interest Rates as of 3/4/2010

Rates based on a 200k Primary Residence Purchase (or a no cash out refinance), 720+ Credit, Full Doc Income Verification, paying one “point.”  Please note, this information is intended for Real Estate Professionals.

80% 30 year Fixed = 4.875%
90% 30 Year Fixed = 4.875% (Requires PMI)
90% 15 Year Fixed = 4.25% (Requires PMI)
80% 15 Year Fixed = 4.25%
96.5% FHA 30 Year Fixed = 5% (Requires MI)
100% VA 30 Year Fixed = 5.25% (No PMI required)
100% USDA/Rural 30 Year Fixed = 5.25% (No PMI required)
80% 5 Yr ARM = 3.75%
70% 5 Yr Jumbo ARM up to $1M = 4.875%
70% 30 Year Fixed Jumbo up to $1M = 6.25%
Refinances up to 105% of appraised value are available

Please feel free to call or email for prequalifications, LSR’s, and any financing questions that you have.

Best Wishes,
Ryan Halldorson
Smart Financial Mortgage
Senior Mortgage Consultant
3131 E Camelback #120
Phoenix, AZ 85016
Phone: 602.793.7204
E-Fax: 602.889.2258

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Becky Becky Wyatt  
HomeSmart Real Estate
480-383-9209 phone
888-855-4817 e-fax
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