Mortgage Blog

On Nov of 2010, one of my clients needed to a refinance.
And I checked his credit score, it was 646. The rate was
bad if we refinanced then(5/1ARM program). And I suggested
to fix the credit score.

And in Dec and Jan, borrower paid down some balance
on the credit cards, closed some small loans.
And we checked the credit score again, it is 713.

And the borrower can get very good rates now.
It's 0.5% higher than we quoted last time when
the score was low.

Everyone is happy.