Mitus Mortgage Company
Susan Hughes
209-795-4700
800-50-MORTGAGE
Click here to E-mail Susan:

Located in picturesque Arnold, CA, since 1992,
Mitus Mortgage is dedicated to our clients, offering the best competitive home & business loan packages available.

Important Loan Information

POINTS: Mitus Mortgage DOES NOT charge points of any kind on the loans we process, unless the borrowers want to pay points to obtain a lower rate.  Many brokers charge 1-3 points for each loan. These points may be called an "origination fee" a "discount fee" or "application fee." When Mitus Mortgage quotes a rate of 6.0% @ 0 points, there are no additional points charged. At 0 points Mitus Mortgage is being paid with a rebate from the lender. This amount does not come out of the funds from the borrowers. Many brokers will quote the same rate but will add the hidden fees as "points" and receive the rebate also. In essence they are making twice as much.

CREDIT SCORES: All "A" lenders require a FICO score above 620 in order to approve the loan. The FICO score is determined by the credit history of the applicant (number of open accounts, amounts due, late payments, collections, judgments, liens, etc.) and summarizes--in a number form--- the relative likelihood that an individual will pay back a loan or default. Scores are based on data from 3 credit agencies: Beacon, Fico and Empirica. If the FICO is low, the loan may need to be approved by a "B-C" lender. It is possible to run the same credit report on 3 different days and have 3 different scores. If you are shopping for a loan it is not advisable to have each one run you a credit report because it can affect your FICO scores.