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Transcription Tulsa Mortgage 

Steve: Are we on 48 now?
Tyler: Yes.
Steve: This is stevecurrington.com and the Steven Tyler show episode number 48.
Narrator: Welcome to the Stephen and Tyler show with stevecurrington.com and TylerWhyburn.com
Steve: Who negotiated the contract for you?
Tyler: A realtor.
Steve: You’re pretty smart. Good for you man.
Narrator: They’re talking about everything you need to know about mortgages, home loans and more. Nobody knows mortgages like these two. Get ready, because here’s Steve and Tyler.
Steve: Yoh, Yoh. I think that’s how I want to start every podcast. Yoh, Yoh. Tyler Webber what’s up?
Tyler: Talking about Tulsa mortgage.
Steve: T-don in the house. That’s what we call him, T-don. He’s like a mafia leader, the Mafia T-don, stevecurrington.com here. Hey we’re talking about — on this podcast thank you for tuning in, we do this Tulsa mortgage thing and we close loans, that’s what we do. We’re sharing with you today on how much or how do I know how much I need to charge and how much to pay off of my credit cards. We talked about this before, but I think we talked about how– Tyler we could talk about this for an hour.
Tyler: Yes.
Steve: I mean I can talk for an hour about anything, but I could talk about this for an hour for sure. Tyler what does the book say? Literally this is in my opinion not bad advice, but not exactly accurate in my opinion.
Tyler: No.
Steve: It’s funny because we talked about on a previous podcast about where you get your information. Like be careful where you go grab your information because it might just be– I might be back here going [laughter]. That’s a very contagious laugh. That’s a– named the studio dude. What do we get from our research on what other people are saying about how much do I charge on my credit card, and how much do I pay off.
Tyler: From ours, we need to keep it around 21– or so for your Tulsa mortgage
Steve: No, the secret formula of the research that we found.
Tyler: They say 30%.
Steve: They say the secret formula appears to be– what, what did you say? Where’s that at? Where’s my what did you say? I have to find that. Oh geez. That’s not it. I have to find this. Okay you talk for a second Tyler while I try to find what did you say?
Tyler: Well, the book says you need to keep your balances around 30%, but from what we’ve found it’s really more around 21-23% of your available credit limit.  Do this for the best Tulsa mortgage
[sound effect] Oh Billy.
Tyler: I don’t think that’s it.
Steve: That’s not it. Oh Billy.
[sound effect]
Steve: That’s the wrong answer.
Tyler: Yes.
Steve: I don’t think I can find it. That’s not it. Okay we’re not going to find it I give up. The point is the secret formula appears to be that it ought to be the indicator right there that you’re getting information from somebody who isn’t confident in their ability. I think Nate’s is going to show me where this thing’s at. If it appears to be 30%, then that’s maybe what the indicator to you is, that it’s not right. Do we find it here? Okay, I found it now. That’s not it but I we’ll get it here in second. All right, thanks for tuning in folks while I play around with the sounds on the keyboard thing. What I tell everybody and Tyler is a student of stevecurrington.com and here’s the thing, there’s people that go grab data from like the credit bureaus websites and they write books about it, and then there’s people that literally have seen it. I’ve seen thousands of credit reports. Thousands upon thousands of credit reports. The guy you want to talk to isn’t the guy that says, “Man, I’ve seen tens of credit reports.” I’ve seen tens of credit reports Tyler. What do you think about that?
Tyler: That’s impressive.
Steve: Yes, I’ve seen tens of credit reports, tens of them. No, you want someone who’s seen thousands of credit reports and that’s where I get my info. I get my info from my own personal knowledge of things that I’ve seen that have happened. How many credit reports have I seen Tyler?  We are the Tulsa Mortgage resource.
Tyler: Too many.
Steve: Thousands of credit reports. Here’s what I know the numbers 21 to 24 percent that’s your number. If you’re buying a house, if you’re trying to get the most optimum credit score for your home purchase, for your Tulsa mortgage, you need to keep your credit card balances between 21 and 24 percent, period. That’s the number and that isn’t like what the secret formula appears to tell me, that’s what Steve Currington knows. That’s why I’m stevecurrington.com, okay? I just know stuff. I might sound cocky or whatever, I don’t really care because it’s the truth. The say the rule is, if your limit– let’s say you have a limit of 10,000 across all your credit cards, this isn’t like well Steve I maxed out on Tyler like I’ve $9,000 on like six cards but this one card that has a thousand dollar limit I only have 210 bucks. That doesn’t work. Does it?
Tyler: No.
Steve: Tyler you’re going to have to wake up, I’m going to hit you with like some kind of crazy sound. Guys I have to sit in the studio and look across Tyler while he literally is about to– are you about to pass out?
Tyler: No, I’m good.
Steve: He’s good, thank goodness man. I don’t know if I can do this on my own Tyler, I need you bro. 21% to 24% across all your cards. That means if you have 10,000 limit, you don’t want all of your balances to be more than $2,100. It doesn’t mean that if there if it’s at 3,000 that it’s the end of the world, no. It just means you’re not going to have the optimum credit score, that’s all we’re really talking about, is having the optimum credit score. If you want the optimum credit score then you’re just going to have to get those balances down between 21-24 percent. The cool thing is, is it really doesn’t matter if you have a $10,000 limit or a $1,000 limit because it’s just a ratio, right?  Yes and to get approved you have to get the ratios in line for your Tulsa Mortgage
Tyler: Right.
Steve: It’s a ratio of your available credit versus your balance. It’d be a lot easier for somebody to manage $1,000 worth of limits than it would be 10,000 if you have balances. Because someone who owes 450 bucks on a credit card that has a thousand on limit and that’s their only card, can just pay 250 bucks right?
Tyler: Yes
Steve: Another 20% did me say that right? 250? Basically someone who owes $4,000 on $10,000 in credit has to pay like two grand to get down or 2500 what do we say 450 versus your 45% you need to go 21? See it’s just a lot easier to get that done.
[sound effect] Oh Billy.
[laughter]
Steve: That’s a really raw sound right there. Anyway, just remember it’s 21 to 24 percent and its optimum. Don’t fret over I have a 750 credit score, but my balances on my credit cards are forty percent it doesn’t matter. I mean it really doesn’t, what we’re really talking about is someone who maybe is at a 650 and they want to get the best interest rate possible, well they’re going to get the best interest rate possible by increasing that credit score up over 680 maybe over 700 if they can, so that their interest rate that they get goes down right?
Tyler: Right.
Steve: It’s not about well, I’m not going to qualify for a mortgage now because I have balances on my credit cards over 23% or 24%, no. It’s just that you’re not going to have the optimum score, that’s all.
Tyler: For some people that is the difference obtain approval.
Steve: Yes it is. We have people at time that come in there they’ve been– as we talked on previous podcasts, they’ve been turned out because their credit score by someone else, and in three days I get their score by 50 points. We have one right now that’s closing. Some other TULSA mortgage lender who will go unnamed who we know, “Pull this guy’s credit every single week, every seven days for two months.” He had to do his letter of explanation for inquiries and it was like six pages long. Because the same bank, the same lender mortgage company pulled his credit every seven days for two months. Well, I don’t know what they thought was going to happen, it was just like, “Oh look. The score is going to come up.” No, the score didn’t come up. How long did it take us, five days?
Tyler: Yes.
Steve: It took us five days to get a score from a 612 to a 660.
Tyler: Five days and a phone call.
Steve: Yes. Five days and a phone call, barely half a phone call. He called me.
Tyler: Pretty easy.
Steve: Yes, so it’s not just– and really in his case, we did exactly what we’re saying here.
Tyler: Right.
Steve: All we did was – here’s the thing, I tell people like this too, we talk about income for self-employed people, it’s not hard, okay, there’s a freaking worksheet, there is. And I know lots about credit score and a lot of stuff i can literally do in my head, I can look at it and tell you. Guess what, it’s not hard, there’s a simulator literally, it costs $8, it costs you nothing. I pay 8 bucks, I go through the what if simulator, and it tells me what-– now I have to have some knowledge because I have to know what to go play with, right? I’m like what if he pays this down to this, what does that do to score. “It’s like oh Steve, we just got 40 points.” Well, I’m going to tell him to go do that then. It’s not rocket science dudes, I mean, it just isn’t rocket science there’s not any scientific formulas that you’re having to come up with to figure that out.
It’s not like everybody’s going, “Oh.” It’s not like I’m so amazing, there’s just things in place that if you have a Tulsa lender, Tulsa mortgage company that is resourceful and is a problem solver, it can figure these things out, it will be good for you, just saying. Am I right or am I right Tyler?
Tyler: True story.
Steve: I’m right, I’m right.
“Oh, my God”.
Dude I love that laughs. I mean, this laughs guys, if this doesn’t put you in a good mood [laughter] I mean, it’s just kind of contagious. Who is that I wonder, I mean, I want to meet that guy and then just get his laugh, I’m sure that’s from some movie or something. We’ll go back to what the book says as we’re calling it, also the same things Stevecurrington.com use when he plays blackjack, but what does the book say, “Here, take it, do it.” Credit scores attempt to take a snapshot of a recent two-year period in factor in all your various payment patterns to get a true picture of your credit behavior. Don’t expect that you can get any significant change your credit score by paying off or paying down your credit balances. It would only be effective you did so routinely over a period of time which are more accurately reflect your credit habits. Don’t pay everything down to 30% of your credit lines and expect to change your credit score the next day.
Tyler: I don’t know about that one.
Steve: Guys this is my point, is this is somebody who’s maybe done their research but listen, here’s what it is, here’s what the difference is Tyler. Anybody can go write a book about credit, anybody can, because you can go like, oh, you can go do your research and you can– you can interview experience and TransUnion people and Equifax people, you can do all the stuff , all you want, do it all day long, yeah. Wow, you did it, you wrote a book, it doesn’t mean squat if you don’t know what you’re talking about.
Tyler: I mean, I guess, I could be right and wrong. I mean, we can see immediate changes and credit scores once we can prove that things are paid down. Sure if you did that consistently for two years maybe your score itself would naturally do something but–
Steve: It’s malarkey.
Tyler: Yes, we’ll totally get that change.
Steve: I want to say the BS word, I literally want to say the BS word, but this is a family show.
Tyler: Yes.
Steve: This is a family show. Are you kidding me? Like let me read that for you again, let me read this crap that someone wrote again, okay? Because this really ticks me off. Man, credit scores attempt to take a snapshot okay, that’s true okay. They don’t attempt to do anything by the way, so they do take a snapshot, okay that what happens, and so for you to say they attempt to take a snapshot, it’s not that anybody is attempting to do anything, they are literally going to tell you what your credit score is, that’s what they’re doing, they’re looking at a snapshot of your recent two-year period. Now that’s not all they look at, that’s just where the biggest factor comes in, is the last 24 months, okay, so we’ll break this down.
They’re factor in all your various payment patterns to get a true picture of you credit behavior, all that means is any lates you have had, okay, your payment patterns, what does that mean? I pay on time. Okay good you have a good credit score. Don’t expect that you that you can get any significant change in your credit score by paying off or paying down your credit balances. BS, totally expect it.
Tyler: Yes.
Steve: Really I’ll tell you this, even without our help, if you did that, you can expect your credit score to get bitter, better. You can, bitter. Your credit score is going to be bitter. Your credit score be so your pictures going to be so mad at you, oh my goodness, that is just crap.
Tyler: Yes, but not Tulsa mortgage crap, Tulsa mortgage is awesome.
Steve: I just can’t believe that– anyway, so the point is be careful where you go get your information, if you’re not getting a Tulsa mortgage from us, what are you thinking, I mean, what is wrong. Because you just need to in my humble opinion IMHO is I would put if I was typing in a blog or something. I will tell you In My Humble Opinion. Which actually matters by the way because I do this for a living. You absolutely can pay down debt and you’ll get a better credit score.
Tyler: Yes.
Steve: Absolutely. We have another guy right now 630 credit score, everybody’s told, “Oh, yes, you’re going to pay this really high mortgage insurance, insurance.” Took me about 13 seconds, he has– well I don’t know, $400,000 in the bank, 400 grand he has for his Tulsa mortgage and he’s got like a student loan, and he’s got this other thing, and I’m like pay that off, pay that off, 680. Really, yes.
Tyler: Yes
Steve: It took him literally $4,300, and guess what, he has 400 grand. I’m guessing it’s probably a good investment for him to pay 4,500 or 4,300 bucks to get his credit score up so that he gets a better interest rate, lower mortgage interest everything, it’s just common sense in my humble opinion. That’s all I have for today. You can visit us at stevecurrington.com, you can see all our podcast and our crazy pics that we do, and the tats and everything, I think you can probably see it. Tyler wears a tie on his head, if you get a podcast.stevecurrington.com. That’s all what we got for today. We’re out.
[END OF AUDIO] [00:16:35]