You see the advertisements in Florida newspapers, on TV, and on the Internet. You hear them on the FloridaÂ radio. You get fliers in the mail, and maybe even calls offering FloridaÂ credit repair services. They all make the same claims:
â€œCredit problems? No problem!â€
â€œWe can remove bankruptcies, judgments, liens, and bad loans from your credit file forever!â€
â€œWe can erase your bad credit â€” 100% guaranteed.â€
â€œCreate a new credit identity â€” legally.â€
The Federal Trade Commission (FTC) says do yourself a favor and save some money, too. Donâ€™t believe these claims: theyâ€™re very likely signs of a scam. Indeed, FloridaÂ attorneys at the nationâ€™s consumer protection agency say theyâ€™ve never seen a legitimate credit repair operation making those claims. The fact is thereâ€™s no quick fix for creditworthiness. You can improve your credit report legitimately, but it takes time, a conscious effort, and sticking to a personal debt repayment plan.
Everyday, companies target FloridaÂ consumers who have poor credit histories with promises to clean up their credit report so they can get a car loan, a homeÂ FloridaÂ mortgage, insurance, or even a job once they pay them a fee for the credit repair service. The truth is, these companies canâ€™t deliver an improved credit report for you using the tactics they promote. Itâ€™s illegal: No one can remove accurate negative information from your credit report. So after you pay them hundreds or thousands of dollars in fees, youâ€™re left with the sameÂ Bad credit reportÂ and someone else has your money.
FHA LOANS HAVE MINIMAL DOWN PAYMENT AND CLOSING COST: â€¢ Down payment onlyÂ 3.5%Â of the Purchase Price.Â â€¢ Gift's and Grants for down payment and closing costs OK!Â â€¢ Seller can credit up toÂ 6%Â of sales price towards buyers costs.Â â€¢ No reserves or required savings for future payments required. â€¢ FHA regulated closing costs.
No 30 day late payments on your credit report in the last 12 months. Its ok if your 5, 20 or 27 days late.You are not late until you are a full 30 days lateÂ on yourÂ credit report. Your credit report must show 0x30 days late in the last 12 months..
YouÂ must Â provide 12 months of verifiedÂ on time rental history. Either by providing 12 months of canceled checks, money orders Â or verification of rent from a management company. (No private landlord letters).
If you cannot verify rental history you may need 3-6 months of future payments in your account at closing.
In addition to verifying rental history (see #3,4) you must have 3 lines of credit on time for the past 12 months. Or useÂ non traditional creditÂ to qualify.
FHA allows 3.5% Down Payment with a 580 FICO score. InÂ most casesÂ when you settle all collections or pay them in full your credit score will increase to at least 580.
or use ourÂ Quick ApplicationÂ to receive a no obligation consultation on your next Florida mortgage.
If you cannot provide these requirementsÂ listed aboveÂ for a good Florida mortgage with bad credit. Your other option is aÂ Florida Hard Money Loan.
Although recent problems in the sub prime market have made lenders more careful about how they extend credit, it's still very possible toÂ buy a home in FloridaÂ past bad credit problems. To learn more about our Florida home buyer programs,Â use ourÂ Quick ApplicationÂ to inquire today!
â€¢Â Bad credit Florida mortgages give you the chance to clean up your credit. â€¢Â Consolidate all your bills into one, low monthly payment with bad credit Florida home loans. â€¢Â Get relief from the non stop harassing calls of creditors. â€¢Â Bad credit FloridaÂ mortgages provide a way to live your life without worrying about every penny you spend. â€¢Â Need extra cash? Bad credit home loans give you what you need for home improvements, back child support, late payments, or a much needed vacation. â€¢Â Bad credit home loans can even give you the leverage you need to avoid bankruptcy. â€¢Â And so much more!
Feel Free toÂ Apply NowÂ for a Bad Credit mortgage or use ourÂ Quick ApplicationÂ to receive a no obligation consultation on your next Florida mortgage.
â€¢Â Quick closings â€¢Â A higher level of customer service â€¢Â Flexible guidelines â€¢Â Convenient online applications â€¢Â NO up-front costs to you â€¢Â Many different Bad credit different programs to choose from
It's our mission to exceed your expectations, and deliver the help you need to get back on track