If you are looking for a home loan, but you have bad credit you are in the same position as millions of other Americans.
Back in the mid 2000s and up to 2007 it was much easier to qualify for a home loan with poor credit. There were subprime mortgage loans for bad credit and state income loans as well. Unfortunately, a lot changed with the financial crisis and mortgage meltdown. Many people went into foreclosure and the banks lost a lot of money.
Now there are all sorts of mortgage overlays that make lending to people without good or great credit very difficult. Understandably, banks are looking at loaning a large sum of money over a long period of time and can assume a lot of risk. However, so many Americans have a good job, a good income, and can afford a mortgage if given the opportunity, but are not able to because of having bad or fair credit scores.
There really should be a change and more consideration for the many great potential borrowers out there that have past credit issues due to the economy, a job loss, an illness, or other unforeseen event. These are not representative of an individual’s current potential for a mortgage. We speak to thousands of individuals in these same circumstances every month and many who are looking for a mortgage company to give them a chance or a sympathetic underwriter to consider them, but unfortunately there are regulations that just do not allow consumers with fair to poor credit many options.
However, don’t get discouraged about your opportunity to buy a home. CRE Credit Services offers the best credit repair and education services for consumers looking to buy or refinance their home. Every month we are getting hundreds to thousands of people qualified for a mortgage and into a home. We are the most referred to credit repair company in the country by mortgage and real estate professionals.
We are trusted as the credit education provider of the NFL and many Fortune 500 companies and major universities as well.
Difference between being qualified and WELL qualified
The focus of many consumers and mortgage professionals is getting the consumer qualified for the mortgage. Our goal is not just to get you qualified; it is to get you well qualified so you can obtain the best possible interest rate and see significant savings.
Buying a home is likely the biggest investment you will ever make, but what most consumers don’t realize is how critical your interest rate is. Every 1% in interest will cost you 25% more of your home price in interest. That means for every $100k, you will pay $25k more in interest for every 1% increase in interest that you pay. The way that interest breaks down, you are paying a significant amount of that early in the loan. This is why it is very important to get your credit scores as high as possible when repairing your credit before you purchase a home.
This is a crucial consideration as well when choosing a credit repair company. All credit repair companies are certainly not the same, no matter what they tell you over the phone. We have been proven to have the best credit repair results as well as the quickest credit repair results in the country. This is important to factor in when considering the value of your investment in credit repair. Not only do we have 100% money back guarantee on our results, but you can also be guaranteed that you will save way more in interest than you will ever invest with our program.
Don’t forget about dispute codes
What is a dispute code? It’s crucial to know what a dispute code is, and it’s something most credit repair companies will not want to discuss with you.
A dispute code will appear on a disputed trade line and will appear something like this “account in dispute consumer disagrees”. Although once the initial investigation is conducted and this will have no impact on your credit score, it definitely can have an impact on whether you qualify for a mortgage.
If a credit repair company doesn’t remove every item dispute from your credit report, you will be left with dispute codes that will most likely prohibit you from qualifying for the loan. Your loan will be rejected in the underwriting process as these dispute codes show up on your credit. This is the reason many mortgage loan officers have stopped referring to credit repair companies.
Fortunately, CRE Credit Services not only has the highest deletion/correction rate in the country, but we also can remove these dispute codes from your credit report. In fact, part of our process is to make sure we get these removed so once we get you qualified based on your scores, you are not turned down for a loan.
We see people with very good credit and income get turned down for loans just because of these dispute codes. We also have many people every day calling us after coming from other credit repair companies have helped them because they still don’t qualify. If you need to fix your credit to qualify for a home loan, then CRE Credit Services is right choice for you!