Home Buying in 14904>Question Details

Killer23, Other/Just Looking in 14904

I pay 825.00 for rent right now but my credit is terrible, I am trying to get it re-established now, can I get a loan for a house?

Asked by Killer23, 14904 Thu Jun 28, 2012

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Good morning Killer23,

Often I meet clients who think their credit is, as you say, "terrible." When I review their credit we find they actually qualify for a mortgage loan!

I recommend speaking with an experienced Mortgage Banker to get properly prequalified. The Mortgage Banker will review your Income, Assets, and Credit. If you are not qualified due to your credit score, your Mortgage Banker can recommend a course of action to improve your credit and become qualified in the future.

Beware of anyone offering to "repair" your credit! The Federal Trade Commission issued a stern warning last year that such offers are scams. Find more from the FTC HERE: http://www.ftc.gov/bcp/edu/pubs/consumer/credit/cre13.shtm

I am a Licensed Mortgage Loan Originator in New York State working for a Direct Lender. I have been helping First Time Buyers as a mortgage professional for 22+ years. If you wish to explore this further, I'd be happy to help!

Trevor Curran
NMLS #40140
Mobile: 516-582-9181
Office: 516-829-2900
Fax: 516-829-2944
PowerHouse Solutions, Inc.
185 Great Neck Rd, Suite 240
Great Neck NY 11021
Licensed Mortgage Banker – NYS Dept. of Financial Services
0 votes Thank Flag Link Mon Jul 30, 2012
There are other factors besides credit that determine mortgage qualification, such as income, debt, etc.; therefore for a personalized answer visit with any licensed loan officer; be aware that a mortgage pre-approval letter is required in order to determine your price range and for any offers to be taken seriously.
0 votes Thank Flag Link Thu Jun 28, 2012
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