Mortgage Loan – Understanding FICO Scores (Las Vegas, Nevada)

Apply for a mortgage loan and you’ll soon become familiar with FICO scores. Here’s a primer on the infamous FICO scoring process.

FICO scores are merely a mathematical representation of your credit record. Credit records are simply a recording of your debts and assets. Credit card balances, for instance, are a debt that appears on your credit record, as do late payments, bounced checks and so on. Credit, of course, is a huge consideration in the mortgage loan process.

A “credit score” is a figure that represents an overall valuation of how you handle credit and the risk level associated with giving you more credit, to wit, a mortgage loan. The loan underwriter will review your credit report for items such as payment history on debts, debt balances and types of credit you already have. A summary of this information is represented by a figure known as you “FICO score.”

FICO

You may be surprised to learn that “FICO” doesn’t stand for any credit-related terms. Instead, it stands for Fair, Isaac and Company. This company developed the mathematical formula that produces the much loved or hated FICO scores. The FICO score assigned to you determines whether you love or hate the formula.

FICO scores come in a range of three digit numbers. The lowest FICO score you can get is 350. The highest FICO score is 850, a score for which bankers will bow at your feet. The higher your score, the better your credit situation and the more likely a bank is to provide you with a mortgage loan.

Most people do not have perfect credit. To this end, we find most people have FICO scores ranging from the low 600s to the high 700s. Mortgage applications typically are not rejected because of a few late payments.

If you’re considering purchasing a house, you should always try to pre-qualify for a mortgage loan. Getting a reading of your FICO score should be one of the first steps.

Get answers and get started today; call direct:  (702) 427-4075
Request to be contacted:  http://www.snmc.com/vegashomes 

Mary "SUZOHNE" West

Sr. Loan Officer (Lic 257735) // SecurityNational Mortgage Company (Lic 3116)

Direct:  (702) 427-4075  // Direct Fax: 1 (888) 218-9265  // www.WestHomeLoan.com

3285 N. Fort Apache Rd., Las Vegas, NV 89129 // Main (702) 562-8733

Email: West@WestHomeLoan.com  

Las Vegas Mortgage Loan Officer

I am starting this blog very simply. Hopefully my skills will improve and I will make this a more sophisticated experience in the future. 

First who am I, what I do, and what services do I provide? 

Mary "Suzohne" West, Sr. Loan Officer 

Direct: (702) 427-4075  // West@WestHomeLoan.com

SecurityNational Mortgage Company offers many types of home loans options for refinances, real estate purchases for primary residences, second homes, and investment properties. 

Types of Las Vegas Mortgage Options:

• Conventional Loans (30 year, 20 year, 15 year)
• FHA Government Loans (3.5% down) (30 year and 15 year)
• VA Government Loans (as low at Zero / No Money Down) (30 year and 15 year)
• JUMBO Loan Options
• Private Money / Hard Money
• Portfolio Loans

Not all loan options are for everyone.  I will present all options available based on your needs and qualification so you may select the best one for you.

You like me want to make the best decision when it comes to the big things in life.  My specialty is providing personal and detailed care to your mortgage needs as well as offering competitive low mortgage interest rates.  I do not charge an up-front application fee or a credit report fee that many other big companies do.  I am confident to say that I know you will be delighted in my service throughout the loan process.

With over 20+ years in the mortgage and real estate industries, my time as an Escrow Officer, an Underwriter for a Fortune 100 Company, and in the Realtor's office has given me a unique perspective into all aspects of the real estate purchase process.  My experience will me be a valuable asset to you.  I can communicate effectively with Realtors, Lender's Underwriters, Lender's Processors, Inspectors, and Appraisers so you have a smooth and comfortable loan transaction, whether refinancing or purchasing.

If you feel you are credit challenged; I have a proven team of credit professionals to help you. My personal commitment to you is to be there every step of the way both during the loan process and after. 

I work By Referral Only … it is the heart of my business.  I focus 100% of my time providing world-class service to my clients and building lifelong relationships. In return for this high level of commitment, I ask you to refer your friends, family and associates.  You can expect that they will receive the same level of concern, personal attention, and commitment that I have pledged to you.

YOUR NEEDS and DREAMS are my OWN.

Mary "Suzohne" West, Sr. Loan Officer (NMLS#257735)

Call today to get started:   (702) 427-4075

Website:          www.westhomeloan.com

Testimonials:  http://www.stik.com/marysuzohne.west

SecurityNational Mortgage Co (#3116)

3285 N. Fort Apache Rd, Las Vegas, NV 89129