Credit Advice and Tips For Home Buyers
Better Credit…Better Options
If you are looking to purchase a home, there are a few things you should do before you approach your friendly neighborhood loan officer about a mortgage loan. By taking these steps before you attempt to obtain a mortgage, you will better your chances at obtaining a loan for the amount you need at a lower interest rate. This will ensure that you get payments that fit in your budget so you can enjoy your home.
First, check your credit report and identify any problems. Then determine what actions you need to take to rectify these issues. You should also obtain your personal credit score. The higher the better, obviously, but your score needs to be at least 620 before a loan officer at any bank will entertain the idea of extending a mortgage offer to you. You should also draw up a written budget so you can determine how much you can afford to pay for your home each month.
If you are looking to purchase a house, your credit should be in tip-top shape. If you are dealing with blemishes on your credit report or want to increase your credit score, consider retaining the services of a credit repair professional by calling CRE Credit Services today. We will set you up with a free consultation where we will help you identify any issues you have with your credit by obtaining a copy of your credit report. We can then help you determine the actions you should take to repair your credit and give you some advice based upon your individual needs. Once you have a plan in place, we will help you to execute this plan and make positive changes on your credit report and increase your credit score. Contact us today for an appointment!