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
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