Home Buyers
Whether your goal is to purchase a home in 6 months or 2 years, don’t procrastinate getting your credit in order. We have seen many home buyers find a home and then miss out because they couldn’t get approved for a loan.
Start preparing your credit now or at least 6 to 12 months before your home search. You may need more time depending on your situation.
Disclosure: Credit Expert LLC is not a mortgage broker, loan originator, or lender. If you have specific questions regarding a potential home loan, please contact a mortgage banker in your area.
Here are some things to consider…
✔️ Your Credit Scores: The higher the scores, the more purchasing power you have. Plus, you could possibly obtain better interest rates and lower fees.
✔️ Your job stability / Income.
✔️ Your Debt-to-Income Ratio.
✔️ Installment Loans & Credit Cards: No late payments during the last 12 months. Create a monthly budget and payment tracker to help pay your bills on time.
✔️ No unpaid collections, Judgements or Tax Liens.
✔️ Pay credit cards down. Pay off if possible, but don’t close them.
✔️ Avoid applying for any new credit within 3-6 months of applying for a home loan.
✔️ Bankruptcy – Possibly qualify after 2 years from being discharged (ask your lender)
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