Retire Right Radio – Dan Smithson: Mortgages, HELOCs, Credit Scores, and Navigating Today's Home Buying Market

With John Burdett out, Dale Cooper welcomes Dan Smithson, CEO of Star USA Federal Credit Union in Charleston — recently named the best credit union in West Virginia by Forbes — to cover the mortgage landscape. Smithson walks through what first-time buyers and refinancers need to have in order before approaching a lender, including credit score awareness, budgeting, and the dangers of online lead-generation mortgage sites that funnel personal information to marketing companies rather than direct lenders. The conversation covers PMI, adjustable rate mortgages with three- and five-year lock periods, and a detailed breakdown of HELOCs — including Star USA's prime-minus-0.25% line available up to 90% of home value with no appraisal required. Dale shares his own experience correcting inaccurate credit report entries and raising his score by 90 points, and Smithson highlights the credit union's free Savvy Money credit monitoring tool and fraud alert system available to all members.