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Kings Bay Saint Marys & Kingsland Georgia Real Estate - Getting a Home Loan with Damaged Credit
So, you have made the decision that you would like to become a homeowner. As lenders, we have to perform a credit check. The credit we review are provided by all three reporting agencies. Equifax, Experian and Transunion are the three agencies lenders use. The middle of all three beacon scores is the one used to qualify a borrower for a mortgage.
Many lenders will deny would be borrowers if their mid-score is less than 620. However I take a different view of credit scores and look for a way to get the loan approved. There are sub-prime loans available for borrowers with low credit scores, however I believe that it is in the best interest of my clients to take the time to make some small repairs to their credit. By doing this, I am not only providing a valuable service that helpsmy clients, but I am able to save them from 2% to 4% on a fixed mortgage rate.
How long does it take before you can close on a loan? Usually from 30 to 60 days. It depends on how quickly you can provide me with the information to repair the credit.
How much does this cost? Nothing,provided you get your mortgage through my company.
It is best to contact me before you look at houses with your realtor. This way, you will have a pre-approval before you select your new home.
Contact me by visiting my website at www.thebestmortgageguy.com
Glenn Keller is a veteran in the mortgage industry and specializes in VA, FHA and Conventional home mortgages. Glenn is a Georgia representative with Affordable Home Funding at 1204 Hospitality Ave., Kingsland Georgia 31548
Washington Times
IndiaPost.com, CA - 1 hour ago
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Of course, buying a home is a more lengthy process than simply calling up a mortgage broker to refinance, and activity typically slows during the holiday ...
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The Mortgage Bankers Association’s index of applications to purchase a home or refinance a loan dropped to 1143.8 for the week ending Jan. ...
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Stockton Record, CA - 4 hours ago
Under the Cardoza plan, the payment on that mortgage refinanced to 4 percent fixed rate would drop to $1194 a month. Contact reporter Bruce Spence at (209) ...
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The jump in applications during December may have been driven by homeowners already "on the fence" and prepared to refinance on a drop in mortgage rates, ...
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... to purchase or refinance homes,” Rosengren said. The average rate on a 30-year fixed-rate mortgage dropped for a 10th week to 5.01 percent yesterday, ...
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"Despite efforts by Congress to address this issue, not enough lenders have come to the table to help borrowers with bad mortgages refinance into new, ...
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TopNews
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If I refinance the mortgage on my current house, will I hurt my chances for getting a loan for a new place later on? A: No. Refinancing a loan shouldn’t ...
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... 2009 With US mortgage rates the lowest in 30 years, local lenders say they've seen a strong surge in loan applications as homeowners seek to refinance ...
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