John Fricke - Mortgage Loan Officer

01/22/2025

The Consumer Financial Protection Bureau finalized a rule to remove medical bills from credit reports. If you’ve had medical collections on your report, this change could lead to an increase in your credit score—opening the door to better financing options for refinancing or buying a home or meeting other credit needs.

If you’re considering refinancing or purchasing a home, now could be the perfect time to explore your options. I’d love to help you take the next step toward your goals.

Feel free to reach out, or share this with someone who might benefit from this exciting update!

Click Here to Learn More About the Rule:

Today, the Consumer Financial Protection Bureau (CFPB) finalized a rule to ban the inclusion of medical bills on credit reports used by lenders and prohibit lenders from using medical information in their lending decisions.

05/13/2024

05/02/2024

The Fed left policy rates unchanged at their May meeting. Fed Chair Powell said he expects reaching the goal of 2% inflation to take longer than previously thought. As home prices rise, the possibility of lower rates later may not be enough to make mortgage payments more affordable. If you can afford a purchase now, this may be the time to act. Please reach out if I can assist. Lindon Branch is an Equal Housing Lender.

03/28/2024

Are you in law enforcement or a correctional officer in Utah or do you know anyone who is? We offer a forgivable home loan grant up 3.5% of the purchase price, not to exceed 25k. It can go towards the down payment and/or closing costs. For more info to see if you qualify, go ahead and FB message or call/text me at 801-889-4004.

12/25/2023

Enjoy your Christmas and holiday with those you love.

10/16/2023

Rates are just one part of a home purchase. Watch the short video to get a longer-term view of homeownership. Our team helps people navigate the current rate environment every day. Please let me know if I can help you or someone you know. Lindon Branch is an Equal Housing Lender.

Rates are just part of the homeownership story.

05/02/2023

Here are 3 different charts for the changes in the Loan Level Pricing Adjustments (LLPA's) that recently changed. Changes with purchase, limited cash-out (rate/term), and cash-out refinances. I want to clarify misconceptions you might be seeing in the news. I've seen info saying if you have better credit you have worse financing terms than lower credit scores. This is not the case. It's not being explained correctly or fully. In the charts, if the numbers are red, then the pricing gets worse. If it's black, it gets better. Yes, it is a bummer that you see pricing getting worse on certain loan to value and credit combos but they are still better than the lower credit scores. They've relooked at it and adjusted it according to risk. When Covid-19 hit, almost all banks stopped lending at a 620 score and some did it at 640. Credit scores under 640 took a huge hit in rate and it was much higher making it much harder to qualify for a mortgage. Scores between 640 and 680 took a negative hit in rate but not as much. This made it much more difficult to get financing with these credit scores. Looking at this chart, this is swinging the pendulum back more of what it was before Covid-19 for those with lower credit scores. This helps buyers and homeowners better qualify for financing in this higher home price and rate market. Also, the best tier pricing was raised from 740 to 780. If you want to see what your loan quote/scenario would look like with a higher or lower credit score, go to www.GorillaRates.com and check it out. I hope this gives better clarity for what you might be seeing and hearing in the news.

04/09/2023

Happy Easter🐣🍫

02/22/2023

Fannie Mae’s forecast for interest rates and housing starts 2023 and 2024.

12/05/2022

Not doing some of these items could prevent or delay you from getting financing to buy a home. If you’re looking at buying a home, let me help you get preapproved to make the process easier. DM, call/text me at 801-889-4004, or email me at [email protected]. John Fricke, NMLS 213589