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Super User Spotlight: Rod Flowers, PrimeLending in Maryland
Rod’s client was eager to secure a loan for a vacation home. When Rod pulled the credit report, he noticed that the score was 698 – 18 points less than what his client saw on a free credit score site. When the client learned that this meant his rate would be a quarter of a percent higher, he was ready to walk away from both the loan and the property. Rod convinced his client to reconsider, believing he could find a way to help improve the credit score.
When analyzing the credit picture, Rod saw that his client had co-signed on a furniture purchase for a family member who hadn’t yet paid it off. Using CreditXpert® What-If Simulator™, Rod discovered that his client’s score would increase just enough to qualify for a better rate if he paid the balance down by $1,000.
Once the client completed the action, Rod rescored him at the higher credit score and secured a lower rate – saving $37,800 over the life of the 30-year mortgage. The client settled on the vacation home with no delays and is looking forward to enjoying time there with his family, all thanks to Rod’s excellent service.
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Related Credit Insights
Mark’s client needed to raise her credit score from 590 to 640 – just 50 points – to have a chance for an FHA loan. Most of her debt was due to credit card balances. Mark used CreditXpert® What-If Simulator™ to look for ways to pay down the debt that wouldn’t require a lot of funds.