Credit

Find out what really matters when it comes to credit and qualifying for a home mortgage loan.

One of the questions I get every day from our callers is How do I increase my credit score so I can qualify for a home loan?

Credit scores are generated from your last 24 months credit history.

The top credit problem is no recent positive credit history> It’s also the easiest to solve. Get two secured credit cards from your local credit union, in Tampa we recommend Suncoast Schools Credit Union.

The most common mistake we see which can wreck someone’s credit score is paying off old collection accounts, Do not payoff old collection accounts. This can actually lower your credit score.

If you are really interested in improving your credit score check out these videos. Clean Slate can help you get to a 640 or better in just a couple of months.

While credit is not an important factor for a Hard Money or reverse mortgage equity loan, it is one of the most important parts of qualifying for an “A”  credit (Conv., FHA,USDA, Jumbo) home loan.

We use Credit Xpert software on our credit reports which predicts future credit scores with great accuracy.

How can this benefit you in qualifying for a mortgage? Lets say your credit score was 20 points under the cutoff for the best mortgage program. In the past you would be told that you don’t qualify for program A (best rate, lower down) so you’ll have to accept program B (higher rate,more down) instead. Would it save you money if you could find out exactly how to get those extra points on your credit instantly? Now you can if your Florida mortgage broker is using Credit Xpert and Credit Radar technology.

Using another example let’s say your score was just 20-40 points below being able to qualify for a home loan at all. In this example you would be turned away altogether. This is not the case when using an experienced broker who is a credit expert for your mortgage loan.

Call us to get pre – qualified for a mortgage 813-874-5800

If you are not looking for a mortgage but want to learn more about your credit visit this site 640orfree.com The have a bunch of good videos that explain credit and credit scoring in an easy to digest manner.