That Depends...
Credit requirements vary by loan type
The minimum credit score you need to qualify would be a 580 but there are many more factors to consider, so ask your loan officer to see if you qualify!
LET'S TALK ABOUT CREDIT
NAVIGATING THE DO's & DONT'S OF THE CREDIT SCORE WORLD CAN BE TRICKY BUT WE ARE HERE TO HELP!
What is a FICO Score?
What goes into your FICO Score anyway? That's what were going to talk about in this video!Are Credit Apps Accurate?
We get asked all the time, if Credit Karma and other Credit reporting apps are accurate or trustworthy... the short answer is it depends. While they are great for monitoring, they wont be the same score your Mortgage Lender or even an Auto Lender will look at ...How Are Credit Scores Calculated?
Have you ever wondered what goes into your credit score? There are many factors that go into your score, here were going to talk a little more about how your score is determined to help you understand your score a little better.
Establishing a Score
Paying cash for everything can be great, but it can also lead to you being a "ghost" in the credit world. If you don't have a credit score yet, or are just starting with credit, here are some tips to help you get a good score established!Should I Pay Off Collections?
If you have any accounts that are in collections it can be tempting to throw any extra money you have their way before you apply for a mortgage, but you should watch this video and talk to your lender BEFORE you pay off any old collections!7 Mistakes That Can Kill Your Score
Credit scores can be very easy to do some serious damage to pretty quickly... and they aren't so easy to build back up as quickly, so check out these 7 common mistakes and how to avoid them to keep your score safe!SOME CREDIT FAQ'S
No
It is a Hard Inquiry but not likely to affect your score
If you don't have your credit pulled frequently then one inquiry wont have a strong impact on your score, if it does drop at most it would be just a few points.
Yes
You can have someone co-sign on a mortgage with you
But really their credit won't likely help you. We HAVE TO use the lowest middle score, so when we pull all 3 scores we have to use the middle score, and if your middle score is lower than the co-signer we still have to use yours. Co-signers are really the most helpful to add income to the loan, not better credit.
Yes!
Applying helps us get you on the right path...
Your credit won't get better on its own. If you think you have bad credit the only way to fix it is to take some actions/steps in the right direction. We can help you by guiding you on what steps to take.
Even if you think your credit is too bad to qualify, or even too good to worry about, having a lender pull your credit and look at your application will help eliminate suprises that could delay your closing if you wait until the last minute to apply, or even cost you a the deal on your dream home. So we always encourage potential buyers to apply as soon as they can.
ARE YOU INTERESTED IN CREDIT REPAIR?
If you have negative, incorrect items on your credit report, the dispute process can be difficult to navigate. We work closley with a company called Home Loans Assist, who may be able to help you get some of these items removed, partnered with the advice of your Loan Officer, getting some of these off your credit report could be a big help in getting you pre approved. If you would like to learn more about how Home Loans Assist works,click the link below and shoot us an email, we would be happy to send you some information!