Having a great credit score has always been important if you are applying for a mortgage. For most loan programs it will determine how much you will pay for an interest rate. As a loan officer I always love doing mortgages for people who have great credit. Why you ask? Because it makes my job so much easier.
It takes me half the time to process a mortgage for a borrower with a 720 credit score than for someone with a 620 credit score. Because of this fact, my company, Wasatch Mortgage Solutions, of Logan, Utah has decided to reward borrowers with good credit with a new incentive program. We figure that if it takes us half the time to process a good credit mortgage than those borrowers should only pay half the closing costs.
For all conventional loans, borrowers that have at least a 720 credit score and 10% equity will be rewarded with...
1. Half off the origination fee of 1% (up to $2,085 value, depending on loan amount)
2. Free appraisal ($395 value)
3. No processing fee ($250 value)
This program applies to any conventional purchase or refinance transaction and will apply to all borrowers who start their loan application after 4/9/2010 and before 12/31/2010.
To qualify for this program you must
1. Mention this blog post at the time of the loan application.
2. Have a credit score over 720 and 10% down payment or equity.
3. Close your loan with John Neil of Wasatch Mortgage Solutions.
If you have great credit and live in Utah or Idaho and are looking to purchase a home or refinance your existing mortgage, call me at 435-770-2709 for a free consultation. I look forward to exceeding your expectations.
