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The average credit score in the United Sates is 677. If you live in the New England area, you've got to compete with an average score of over 700. And that's only an average score, not a high score. The problem with this is that a normal person with a credit score under 600 will have a much tougher time getting approved for loans.

Other lenders are less likely to approve your loan with low scores, and if they do, your rates are likely to be higher. For example, on a $150,000 mortgage with a 30-year fixed term, a person with a score of 760 or more will pay nearly $200 less than a person with a score below 620 for the same exact loan. This is because, according to the raw numbers, people with a 620 score are a bigger credit risk.

All this credit score examination and scrutiny is the bane of many people's home buying experience. That's what's so refreshing about our methods at Downs Financial, Inc. We're a direct lender who takes more than just the numbers into account. We look at your total situation with all relevant factors in mind. We do this because we know that although people may have made mistakes, those mistakes made seven years ago often have little to no bearing on one's financial performance today.

Whether you're looking to refinance your current mortgage to get cash out or to just get a better rate, we can help you do it. What's more, we can do it quickly and easily because we lend our own money. Go online today and fill out our no-hassle application. We can get you pre-approved in minutes. Or call us at 1-866-745-5989 and speak directly to one of our licensed loan officers.


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