Ted Gehrke
Loan Originator
NMLS# 240314
ted@turboloans.com
Desert Equity Lending, LLC
NMLS# 173369 MB-0906989
Phone: 602-881-1414
Fax: 480-219-0849
Scottsdale, AZ
Apply Now
Ted Gehrke
Loan Originator
NMLS# 240314
ted@turboloans.com
Desert Equity Lending, LLC
NMLS# 173369 MB-0906989
Phone: 602-881-1414
Fax: 480-219-0849
Scottsdale, AZ
Apply Now

AZ: 480-245-8995
CO: 720-775-9866
APPLY NOW

AZ: 480-245-8995
CO: 720-775-9866
APPLY NOW

loans
apply now
INTEREST RATES HIT 7 YEAR HIGH!
We have the most comprehensive rates anywhere!
$1295 Total Closing Costs, plus Appraisal, Title, & Pre-paids
apply now
INTEREST RATES HIT 7 YEAR HIGH!
We have the most comprehensive rates anywhere!
$1295 Total Closing Costs, plus Appraisal, Title, & Pre-paids
Desert Equity Lending, LLC NMLS# 173369 | MB-0906989
Desert Equity Lending, LLC NMLS# 173369 | MB-0906989

Figure Payment

Loan Amount ($)
Interest Rate (%)
Loan Term (Yrs)
Payment:

Credit Grades

Mortgage companies often grade your loan based on certain credit related items such as payment history, amount of debt payments, bankruptcies, equity position, and your credit score. Below is a guide to help you estimate your credit grade. This is only a guide as many companies have exceptions that may result in more strict or more lenient guidelines.

A General Guide to B, C & D Credit Grades

           
Delinquencies:
 
Quality Level Credit Score Debt Ratio Max LTV Ratio History for Credit Type # of times # of days Within last Typical Additional Requirements
A+ to A- 670+ 660 28/38 To 95% Mortgage Installment/Revolving 0
0 - 1
0 - 1
-
30
60
24 mo
12 to 24 months
Good/excellent credit during last 2 to 5 years. No bankruptcy within the last 2 to 10 years.
B+ to B- 620 50 75 - 85 Mortgage Installment/Revolving 2 - 3
2 - 4
0 - 2
30
30
30
12 mo
12 mo
12 mo
No 60-day mortgage lates. 24 - 48 mos since bankrupt discharge. Higher number of rolling rates may be allowed.
C+ to C- 580 55 75 Mortgage Installment/Revolving 3 - 4
0 - 2
4 - 6
2 - 4
30
60
30
60
12 mo
12 mo
12 mo
12 mo
12 - 24 mos since bankrupt discharge. High "rolling" rates allowable.
D+ to D- 550 60 65 - 70 Mortgage Installment/Revolving 2 - 6
1 - 2
60
60
12 mo
12 mo
Bankruptcy discharge within last 12 months. Judgements to be paid w/ loan proceeds. Not in foreclosure.
           
Poor payment record with limited 90 day, isolated 120 day
E 520- 65 50-65 Mortgage Installment/Revolving  Poor payment record with a pattern of 30, 60, and 90+ rates Possible current bankruptcy, foreclosure Stable current employment

The figures shown here are estimates. When trying to figure your credit grade, keep in mind the following principles:

  • Other Things Being Equal
    When your have bad credit, all of the other aspects of the loan need to be in order. Equity, stability, income, documentation, and assets play a larger role in the approval decision.
  • Worst Case Scenario
    When determining your grade, various combinations are allowed, but the worst case will push your grade to a lower credit guide. Late mortgage payments and bankruptcies are the most important.
  • Going Once, Going Twice
    Credit patterns are very important. A high number of recent inquiries and more than a few outstanding loans may signal a problem. A "willingness to pay" is important, thus late payments in the same time period is better than random late payments as they signal an effort to pay even after falling behind.

CALL TODAY for your no obligation quote: 602-881-1414

Mortgage Lending State: Arizona and Colorado

Contact us:

Ted Gehrke
Fax: 480-219-0849
Direct: 602-881-1414
Email: ted@turboloans.com

The data relating to mortgage loans and/or real estate for sale on this web site comes in part from the Mortgage 101 program. All data on this web site is deemed reliable but is not guaranteed.

This publication is designed to provide accurate and authoritative information in regard to the subject matter covered. It is displayed with the understanding that the publisher and authors are not engaged in rendering real estate, legal, accounting, tax, or other expert assistance is required, the services of a competent, professional person should be sought. The information contained in this publication is subject to change without notice.

DESERT EQUITY LENDING, LLC MAKES NO WARRANTY OF ANY KIND WITH REGARD TO THIS MATERIAL, INCLUDING, BUT NOT LIMITED TO, THE IMPLIED WARRANTIES OF MERCHANTABILITY AND FITNESS FOR A PARTICULAR PURPOSE. DESERT EQUITY LENDING, LLC SHALL NOT BE LIABLE FOR ERRORS CONTAINED HEREIN OR FOR ANY DAMAGES IN CONNECTION WITH THE FURNISHING, PERFORMANCE, OR USE OF THIS MATERIAL.

security Provided by OpenClose Proud Partner of OpenClose for 11 yrs
Service Provider

 

 

CALL TODAY for your no obligation quote: 602-881-1414

Mortgage Lending State: Arizona and Colorado

Contact us:

Ted Gehrke
Fax: 480-219-0849
Direct: 602-881-1414
Email: ted@turboloans.com

The data relating to mortgage loans and/or real estate for sale on this web site comes in part from the Mortgage 101 program. All data on this web site is deemed reliable but is not guaranteed.

This publication is designed to provide accurate and authoritative information in regard to the subject matter covered. It is displayed with the understanding that the publisher and authors are not engaged in rendering real estate, legal, accounting, tax, or other expert assistance is required, the services of a competent, professional person should be sought. The information contained in this publication is subject to change without notice.

DESERT EQUITY LENDING, LLC MAKES NO WARRANTY OF ANY KIND WITH REGARD TO THIS MATERIAL, INCLUDING, BUT NOT LIMITED TO, THE IMPLIED WARRANTIES OF MERCHANTABILITY AND FITNESS FOR A PARTICULAR PURPOSE. DESERT EQUITY LENDING, LLC SHALL NOT BE LIABLE FOR ERRORS CONTAINED HEREIN OR FOR ANY DAMAGES IN CONNECTION WITH THE FURNISHING, PERFORMANCE, OR USE OF THIS MATERIAL.

security Provided by OpenClose Proud Partner of OpenClose for 11 yrs
Service Provider