Phil Olson NMLS 238103

Are you having trouble getting a Conventional, FHA, USDA, or VA mortgage for your customer or for yourself?? Then read what my customers say about me below. I promise great service and no HYPE. If the loan makes sense I have the programs and lenders to get these loans done. Don't spend 2-3 months in underwriting when I can have your deal done in less than 30 days. I still have lenders who will do loans based on common sense and we have inhouse underwriting so we can make decisions fast! So use a loan officer who has been there and done that with 20 years finance experience. I promise great results!

Dear Phil

Thank you so much for making our dreams of home ownership (a yard, garage, separate bedrooms with doors!) a reality. We truly enjoyed working with you & appreciate all the hardwork & countless hours of work on your behalf. Thank you for being easy to get ahold of anytime of the day & quick to answer questions - even if it was during your dinner hour! Again thanks for everything..

Tim, Laura, Adrien

Woodbury, Mn

Phil Olson is a home loan consultant with 20 years financial experieince. In a tight mortgage enviroment you need someone who has the resources and experience to get the job done. I'm a 1st time homebuyer expert who will cover all the bases to insure there are no surprises at the closing. Hire a mortgage consultant who really cares about his customers best interest and will be available for all your questions..

We have all mortgage programs, great rates and many down payment assistance programs.. Please visit my state of the art website at www.callphilolson.com to read many more testimonials or to APPLY NOW!

I PROMISE I WILL RETURN YOUR CALL OR EMAIL FAST!!!!!

Phil Olson
Sr. Mortgage Consultant
651-238-6748
St Paul Park, Mn
www.callphilolson.com
Serving the Mn and Wi area for over 8 years.

Equal Housing Lender

Can you believe that interest rate?

If you are not familiar with this program it is available to low and middle income families based on special underwriting criteria. This could be a great tool to help buy a home. I'm a MHFA qualified loan officer and Lender so please call me. They also have a new 100% financing program for those customer that will qualify as well. If you want further information about some of these great program you can go to their website at http://www.mnhousing.gov/index.aspx or feel free to call me about this wonderful homebuyer tool. I have detailed some of the information below for you.

Minnesota Housing Mortgage Loan Programs

What do our programs have to offer first-time homebuyers?

•· Mortgage loans to purchase a home through local lenders for qualified low and moderate income first-time homebuyers in Minnesota

•· 30-year loans with affordable, low, fixed interest rates for the life of the loan

•· Interest-free loans to help with downpayment and closing costs for eligible borrowers

You may be eligible for a Minnesota Housing mortgage if you:

•· Are a first-time homebuyer, meaning you have not owned a home in the past three years,

•· Have federal income tax return copies for the last three years,

•· Have acceptable credit,

•· Have an income at or below prescribed Minnesota Housing income limits

•· For basic first-time homebuyer program for a family of four, income limits are as follows:

11-County Twin Cities Metro Area - $84,000
Rochester MSA - $77,600
Balance of State - $73,100

•· Buy a qualifying home within prescribed purchase price limits as follows:

11-County Twin Cities Metro Area - $298,125
Balance of State - $237,031

Minnesota Housing Mortgage Loan Program Eligibility

To be eligible for a Minnesota Housing First-Time Homebuyer Loan, you must meet these requirements:

•· Be a first-time homebuyer, meaning you have not owned a home in the past three years.

•· Have acceptable credit

•· Meet the requirements for income limits

•· Purchase a home under the following home cost Limits:

In addition, for clients who are ready to buy and interested in 100% LTV financing, consider using the new Affordable Advantage product, now at 4.500%.

Start offering your customers safe loans with below-market interest rates today. View all program rates and find upcoming training sessions for all Minnesota Housing programs on the website.

Please note, these rates are subject to change at any time, and this eNews is not an offer to enter into an interest rate agreement. Such an agreement may only be made pursuant to Minnesota Statutes Section 47.206, Subds. 3 and 4.

Phil Olson
Sr Mortgage Planner
Equal Credit Opportunity Lender
651-238-6748
www.callphilolson.com

This questioned has been asked of me many times. Why are rates different from lender to lender? To answer that question we need to understand two pieces of the loan puzzle (volume & pricing).

VOLUME- Is the loan originator a one man shop or a very large corporation with many different investors? Our industry thrives on volume and a company who can originate a high loan volume will received preferred pricing. The one man shop may have 5 different lenders where as a very large mortgage shop (MIC Inc. has 450 loans officers nationally) may have 80-100 mortgage companies that they deal on a daily basis. So high loan volume equates to better rates on a daily basis that the originator can quote to the consumer.

PRICING - All loan officers use a pricing matrix or pricing engine with every mortgage investor. This mathematical formula weighs the risk of the loan based on many different factors and determines the final rate the consumer can receive on the loan. With the rate comes YSP known as Yield Spread Premium. Yield Spread Premium is a bonus paid to the loan originator or banker who charges a higher rate to the customer. In turn, the broker or banker will receive a higher commission for charging that rate. Since all loans are like a living breathing entities some require very little attention and some require a ton of attention. Meaning a loan that may consume many more hours to complete will receive a higher rate because of the amount of work required. On the other hand, some broker and bankers automatically charge the consumer 2-3 points on the back to stretch their commission further. Is this right? In my opinion NO. We as originators and bankers deserve to be fairly compensated for our time and experience. It is too bad that there are loan officers out there who do not care about the consumer! I guarantee my customers receive a great rate and I will only ask for fair compensation.

This is why the consumer should shop 2-3 mortgage / banking companies for the best loan!

I hope this short blog clears the air on why rates are different! I have been in the banking industry for 18 years now and I will guarantee a fantastic experience and a great rate if you call me for a loan. I can back that up with many testimonials from past customers. I look forward to your questions and phone calls in the future!

Phil Olson the MN and WI Mortgage Guy who cares about there clients and not just his pocket!

We have all FHA products to include the New Refi Plus Program! (edit/delete)

That is correct and we are still doing loans! We have every product available for our customers needs. Matter of fact - we current have 10+ FHA lenders who specialize in FHA loans, The New Refi Plus loans, Streamlines, & Secure. Yes, Down Payment Assistance has gone away, but 1st time homeowners can receive up to $10,000 from the State of MN with MHFA. We still have 100% financing available through the VA and USDA Lenders as well. To get more information please call me or email me at phil@callphilolson.com. I promise you will be treated special and receive world class service. So please call me at 651-238-6748 or visit my very informative website at www.callphilolson.com and read the many testimonials from my past customer's. Realtors welcome! No credit will be turned away! I have 20 plus years in the finance world and provide FREE Credit Repair Consultations for those that need help. There is no need to look further I'm your one stop loan officer who has the experience to get your loan done!

Phil Olson
Mortgage & Investment Consultants
20 Years of Mortgage ,Credit Repair , & Banking Experience

www.callphilolson.com
651-238-6748

Apply on line Now - www.callphilolson.com/applyNow.html

Smoking Low INTEREST RATES!!!!! (edit/delete)

Here is a quick rate update.

I have MHFA at 4.25 with a possibility of 10K in down payment assistance funds for purchase money. To qualify for 4.25% income must be less than 67K yearly. A 5 year arm product currently at 3.25% fixed (APR 4.12%) for the 1st five years and after that it becomes adjustable with a 2/5 cap. For those that plan on selling their home within five years this might be a great product to refinance with. I have listed some of the standard qualifications below.

· Must have 5-20% equity in home

· Steady employment

· Debt to income ratios below 50%

· Credit Score above 700+

I would be glad to explain this product and how the adjustable period will work as well.

I also have 30 year fixed rates (Conventional) available as low at 4.25% (Apr 4.61%) or FHA at 4.25% (Apr 4.92%) with the same criteria above. If you are planning on refinancing now is the time to do it.
Added bonus, I will credit you for the appraisal cost at closing up to $400.00 for all customers who tell me about this Ad between 08/05/2010 and 10/30/2010. So please tell your friends, family, and co-workers about this special.

Have a great day and hope all is well with you and your family!


Phil Olson
Sr. Mortgage Planner

P.S Hope you like my new website! www.callphilolson.com

To apply now online go to..... www.callphilolson.com/applyNow.html

Rates are subject to change on an hourly basis and based on your overall qualifications.

BBB
Equal Housing Lender