Fill
out our easy 
Online
Loan Application!Your Credit
Report
Perhaps the most
important factor in qualifying for a home loan is your credit.
Companies such as
Experian, TransUnion and Equifax routinely collect and maintain
information from credit card companies, banks, department stores,
etc., about your payment history, and use it to compile your
credit report. In addition, they also collect information from
collection agencies, county, state and federal governments, to
report items such as collection accounts, judgements and
bankruptcies.
The fact is today that many people have blemishes on their credit reports. Whether from divorce, being laid off, or just getting in over their heads, people can begin to re-establish their credit, and eventually qualify to buy a home. Some lending guidelines even allow you to obtain a home loan while currently in a bankruptcy and even stop a foreclosure. Just because your have a few late payments doesn't mean you can't buy a house. Times have changed. We have many programs for people with bruised credit. Don't automatically think you can't... Spend 15 minutes with a mortgage professional. You just might be surprised at what you hear!
Credit Risk Score?
Some credit
grantors make hundreds – even thousands – of credit
granting decisions every day.
To help them make those decisions faster and more objectively, they rely on a computerized process that results in a risk score (or credit score).
Your credit score is often a major factor in qualifying for credit. Lenders can obtain a computerized credit score when they pull your credit. This score is a number which represents an applicant's potential credit worthiness. Although credit scoring has existed for many years, it is gaining popularity in mortgage lending. Many loans are granted or denied on the basis of your credit risk score.
Until recently, Fair Isaac & Company, the creators of the credit scoring model refused to reveal the mysteries of what effects your score (good or bad), and how they arrived at it. Not anymore, click here for details: Credit Score Secrets Revealed. They have also recently began releasing to consumers their scores and interpretive data for a nominal fee. Visit www.myfico.com for information. THIS IS A GREAT SITE for credit score information!!!
Many times, information is reported incorrectly on your credit reports. A copy of your credit report can be obtained by contacting the credit reporting agencies directly. There is a dispute process that allows you to question the accuracy of items on your report, if you feel any items are improperly reported. You don't need to pay a credit repair company. You can do it on your own for as little as $8.00. One word of advice. Contact ALL THREE credit reporting agencies. Getting something corrected from one agency doesn't mean it got corrected with the other two!
You can get more information directly from the credit bureau's web sites.
DO YOU KNOW YOUR
PERSONAL CREDIT SCORE?
When applying with us, we will always be happy to share
your score with you. Click HERE for more information about your
personal credit score, and how to find out what it is.
WHATS YOUR CREDIT GRADE? Every lender uses different guidelines to determine your credit worthiness. Upon reviewing your application and credit report, you're given a credit grade and a determination regarding your loan's approval or denial. Click HERE for some general criteria used within the mortgage industry to determine credit.
Click here for more info. You CAN get a loan!
FREE Loan Analysis, FREE Pre-Approval, FREE Credit Report
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Loan Application!
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