Choosing the home you want to spend years in can be nerve-wracking. You have to take into account the current and future needs of your partner, your children (or your future children), yourself, and dependent family members. In addition, you have to consider commute times, school zones, FHA fees and guidelines, EMS access, safety and security issues, etc… That’s a lot to deal with. Don’t add maneuvering around bad credit to the hurdle that stands between you and your dream. The road to credit repair can be a lengthy one for consumers that don’t know all of the laws or all of their rights. ANG has knowledge and is committed to helping you make your dream of home-ownership a reality.
While you are house-hunting, let the professionals handle credit repair for you. Professionals will shorten the amount of time it takes to get you on the right path.
Professional Credit Repair to Buy a Home
In searching for a new home, you will encounter lenders that will try to get you pre-approved, a status that tells banks and mortgage companies that you already have some financial backing for your purchase. Bad credit makes it harder to get pre-approval. Even if you by-pass the pre-approval process, lenders will have to run your credit as part of a risk assessment in determining your ability to pay your home loan back.
- In this process, they look at specific factors to determine your creditworthiness:
Time on Credit History: the amount of time you have had credit will reflect on your ability to pay on a long-term loan.
- Payment History: timely payments reflect positively on your commitment to paying for your new home on time.
- New Credit: credit checks done for the opening of a new line of credit will cost points on your credit score, even if the payments are on time.
- Debt-to-Credit Ratio: this tells a creditor how much debt you have in comparison to how much income you have.
- Combination Credit: your score my suffer if your credit history doesn’t reflect a mix of accounts, such as credit card accounts with accounts for car loans and utilities or retail chains. This mix reflect your stability as a consumer and debtor.
All of these factors need to be in good or perfect condition to have a favorable credit score. If any of these areas suffer, the imperfection can create a concern that gets you denied on a mortgage.
ANG’s professional credit repair services will utilize the legal means of repairing these specific areas so that your credit score is lender-friendly. Your dream home is waiting on you. Contact ANG today for a free consultation or to get the credit repair process started.