Tag Archive for: credit repair

3 Appraisal Types Agents Need To Know; Lender-Paid Buydowns; Lenders Can’t Charge For Credit Repair…

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This is a reminder that lenders (rather than sellers) can pay for temporary buydowns, including 2-1 buydowns.Read More

12 Essential Facts About Credit Repair

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Learn 12 essential facts about credit repair, including costs, timelines, lender policies, and how it can improve credit scores and lower interest rates.Read More

Short-Term Credit Repair Can Lower Rate 1%! It’s Free and Easy

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We always offer free credit repair to borrowers whenever we see the potential for obvious “fixes” on a credit report. To be clear, increasing a score by 140 points is a big reach, but we do often increase scores by as much as 60 points – and that can still result in a rate that is as much as 1/2% lower. We use credit repair software to run “what if” scenarios, and then advise borrowers on what to pay off or how to shift balances. Borrowers don’t usually have to pay off entire balances either, but instead need to simply pay them down to optimal levels.Read More

How to Fix Your Credit to Get a Mortgage

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Are you looking to buy a home but concerned about your credit? Don't worry. We have a comprehensive guide to help you fix your credit!Read More

How Do Credit Scores Affect Your Mortgage Rate

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Credit scores are among the most critical factors that lenders look at to assess a homebuyer's loan qualifications. Credit scores can affect the mortgage interest rate homebuyers receive from their lender.Read More

Rapid Re-Scores; We Can’t Charge Borrowers

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RAPID RE-SCORES We often do a “rapid re-score” to repair a borrower’s credit for a variety of reasons: (1) to raise a borrower’s score above a minimum requirement, such as […]Read More

Is 751 A Good Credit Score?

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"What is a good credit score to buy a house?" "Is 715 a good credit score? Credit scores are often at the top of every prospective homebuyer’s mind when they begin their house hunt. Mortgage lenders pull credit scores for homebuyers from three major bureaus: Transunion, Equifax, and Experian. When lenders pull credit, they correlate to the middle of the three scores. If two homebuyers are using a loan, lenders will correlate to the lower-middle score of the two.Read More

Great Housing Migration; Credit Repair More Necessary Than Ever

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Chris Drayer, the founder of the Predictive Analytics company (Revaluate) we often recommend, wrote a great blog a few weeks ago called The Great Housing Migration. His point: People will […]Read More

5 Key Credit Reminders & Misconceptions

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Borrowers often share their credit scores with us, as if those scores are set in stone. Those scores, however, are often generated by online “consumer” oriented scoring models that are much less stringent than the scoring models mortgage lenders employ. As a result, the consumer scores are often much higher than the scores mortgage lenders obtain. This is a problem because credit scores significantly affect interest rates, so it is misleading for us to estimate someone’s interest rate based on their consumer score. I blogged more about this here.Read More