Athen Apaquette

Client applied for a loan with 593, 615 and 633 credit scores. In lending we use the middle of the three. With that rate the only loan I could find for $952,000 was a rate of 5.99% for a 7/1 ARM (meaning fixed rate that turns into adjustable) – yes with 30% down she was saddled with a higher rate and a short term hybrid program. She was deeply disappointed since she had a lot of cash and a great job. But with her busy life and her limited credit, she could work on her credit. This was October 13th. With 2 weeks to her credit, we were able to get the scores up to 613 644 and 653. Now she gets a 30 year fixed at 4.5%, still high but much better and with a permanent 30 year fixed rate.

That’s the power of a credit score. And someone who knows the rules coaching her. She said she wishes she would have met me sooner…