Rick Smith Jr

"Your loan officer for life!"
  • I'm a:
  • Real Estate Professional
  • Company:
  • Premiere Mortgage Lending Services
  • Location:
  • Web sites:
  • Phone:
  • (810) 343-4170
Rick Smith Jr,  in Brighton
  • 6 Answers
  • 4 Useful Answers
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About Me
I have resided in Livingston County since the early '80's. My wife and I live in Brighton, Michigan. I am on the board of directors for the Greater Area Brighton Chamber of Commerce. I also chair the AXIS group which is young professionals and the future leaders of Livingston County.
Testimonials
"Dear Rick, We want to thank you for helping us attain our first home. We appreciate the time you took to help us understand the mortgage process. You are very knowledgeable and understanding, and we thank you for accommodating us. As first time home buyers, it is a great feeling to be comfortable and confident with our buying decision. Thank you for helping make that a reality! Sincerely, Karen & Ryan Fritz"
Karen Fritz Wed May 7
""I was very impressed at how much I learned from Rick jr." -Dwayne Combs-"
Dwayne Combs Wed May 7
"Dear Fellow Associates, I just wanted to share with you the experience that I have had working with The Premiere Mortgage Corp. The first experience was with a client that sub par credit, most lenders would have walked away and plenty told him he was unqualified. Rick Jr and Bev used the mortgage simulator on this client and told me within 6 months he would have repaired his credit enough to purchase a home. With hard work and determination of Premiere they had this client ready in 3 months. So we found him a home! At the last minute the investor backed out on this client, and Premiere again jumped through hoops and still had us at the closing table on time! Funny thing is the client or myself never knew there was a problem. The client got his promised rate and conditions, and everyone was happy! I thought surely that this was just Premiere working hard to get Will's business, and mine. Once they had us they would be like all the other lenders out there. Contrary to my belief this is how they work all the time. They have top notch processors to get the job done. We have been using them for most of our transactions and have been very pleased with the quality of service. Just as of last week I had a client very dissatisfied with whom they were working with and were sure they would have to cancel the closing. Once again, Premiere came to the rescue and this client closed as originally planned! Fellow Associates, I highly recommend that you give the professionals at Premiere a call. Rick Jr. is a great guy and works very hard to make sure that your clients get to the closing table on time with no hassles or snags. Rick can be reached at 810-220-0300 Ext. 30. Sincerely, Sherry Van Oosterhout Team Associate to Will Steinmetz"
Sherry Van Oosterhout Wed May 7
"Dear Rick, I want you to know what a pleasure it was for me to work with you and your staff on my recent mortgage transaction. After obtaining at least three mortgages through your office, I am still receiving the most efficient yet personal service of any mortgage company I have had the pleasure to use. Your attention to detail and prompt service in regards to my tight time restraints have been terrific. Your speedy processing and time of commitment was very helpful. I have told many of my friends and business associates about your exceptional service and I am hopeful that they will be calling on you when they are in need of a mortgage. Rick, you are a professional through and through, and I'm happy to know you. Very truly yours, Pat O'Connell"
Pat O'Connell Wed May 7
My Q&A View all >>
Rick Smith Jr's Questions (0)
Rick Smith Jr's Answers (6)
Rick Smith Jr answered:
Betsy, Rural loan is true 100% program. This loan requires that you have a 620 mid credit score. You would still need to have this score even if you had someone with a better to credit score. F.H.A requires that you have a mid 580 credit score. Other loan officers will tell you that you can get approved with a lower score than that, but the investor has the overall say on weather or not they want the liability. If your co-signer has a better score than you, it will do nothing but strenghten your loan! Have a great day! - Wed May 21 2008, 11:15
Rick Smith Jr answered:
JC, first of all you want to make sure that your loan has been looked at by an F.H.A. underwriter. Interest rates do change as the Fed makes his move. If you are trying to minimize cost out of pocket you can get seller contributions. The max the seller can help you out with is 6%. This amount can include your down payment! Other option would be to increase the purcjase price to cover all of the closing costs. Have to make sure that the home will appraise for the increased amount. I will be happy to speak with you on these specific details. 810-343-4170. Have a great day! - Wed May 14 2008, 11:14

Question removed

Rick Smith Jr answered:
Marilyn, this step in your life is very exciting! In regards to your credit score....we have been family owned and operated for over 20 years in Michigan originating loans. We do not know the formula to come up with a credit score. What I do know is that the credit bureaus like to see longevity. When I bought my first house I noticed that my credit scores went up in a 12 month period of time. Reason being is that I made my payments on time. This will actually be your biggest asset not only financially, but also for any mortgage in the future that you may need! This is something that will help you in the future. Good luck!!! Let me know if I can be of assistance with your first time experience! 810-343-4170. - Sat May 10 2008, 14:12
Rick Smith Jr answered:
To follow up with Donald below, he is correct! I have found that each bank reports different on your credit report. Some banks will put a judgment against you for the amount oweing. It might still report as a foreclosure, or profit and loss. What I would do, and what I have helped many clients achieve is doing a loan modification with the current service provider. You can hopefully accomplish lowering your interest rate and locking that in for 2-3 years! Just a thought! Call if you have any questions...810-343-4170. - Fri May 9 2008, 10:28
Rick Smith Jr answered:
Teresa, this was probably a pre-qualification. If numbers were just spoke over the phone and there wasn't the exchange of documentation, sorry to say that your loan wasn't approved. We have an in house underwriter at my company and what the policy is, is that the client needs to bring all of the documentation including w'2's for the last 2 years, 1 month of current pay stubs, 2 months of current bank statements, and any investment statements. From there an underwriter runs your application through the automated underwriting service. If there has been an approval issued, there will be conditions that need to be met before closing. We issue whats called a commitment letter. Our community knows once this document has been produced, they have a true approval. I would be more than happy to assist in anyway that I can! Make it a great day! - Thu May 8 2008, 07:01
Specialties
F.H.A.
Rural Development
Jumbo
Conventional
Commercial
Home Equity
Refinance
203 k Rehab
Construction
Experience
Latest:
Vice President-Operations for Premiere Mortgage Lending Services
Have been originating loans just shy of 7 years.
September 2001—present
Certifications & Awards
Rookie of the year in 2001
Have been voted the #1 Mortgage company in Livingston County, 5 years in a row.
We are the preferred mortgage lender of the National Hockey League Alumni.
Interests
Played professional hockey in past. Love the game of hockey! Golf of course. I am involved with competing in triathlon's.
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