Home Buying in 75104>Question Details

asgor313, Other/Just Looking in Dallas, TX

When is it a good time to speak to a lender?

Asked by asgor313, Dallas, TX Thu Sep 12, 2013

My lease is up in April 2014 and I have been working on my credit and its been on a positive up swing. If any one has any one they would like to refer me to that would be great.

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Depending on which credit repair company you've been working with, because not all credit repair companies approach repairing your credit the same way, I would talk to a loan officer now. Most credit repair companies charge you for a process that you can do on your own. They send in letters to the 3 credit bureaus disputing your derogatory credit. When the bureaus receive the letter, those accounts are marked Account Disputed. Disputed accounts don't report negative or positive, so therefore they stop effecting your score. The bureaus notify the creditors of the dispute & give them 30 days to respond. The credit repair company waits for approximately 45 days of sending the 1st letter, to send in a 2nd letter stating that since the creditor has not responded they request the account be removed. This, of course, improves yor score. But if the creditor does respond, even after the account has been removed, it can bring that account current & be very detrimental to your score. I recomend Victoria Baker, Branch Manager for Southwest Funding. You can reach her at 214-693-6308 or vbaker@southwestfunding.com. Especially since there's a change coming in October that will affect how & how much derogatory credit will be allowed to qualify. Just getting your scores up may not get you qualified. Victoria has 28 years experience & I believe that her experience is invaluable.
0 votes Thank Flag Link Fri Sep 13, 2013
It is always good to talk with a lender first so you can make sure you can buy a home you are considering and what the terms and price limits will be.
0 votes Thank Flag Link Fri Sep 13, 2013
I would probably do so now so you have an idea and goal of what to save for down payment, what to save for closing costs, get an idea of where your credit score is and if there are any breaks for improving your credit score or putting more money down.

For example you might can get a loan with 3.5% down, but you might save money by putting 5% down, so knowing the options today might allow you to hit that by April.

We work with some of the best lenders, so if you need recommendations just let me know.
0 votes Thank Flag Link Thu Sep 12, 2013
Bruce Lynn, Real Estate Pro in Coppell, TX
You always want to speak to a lender before you begin your new home search. If your lease is up in April, I would suggest perhaps the first of February would be a great time to really start nailing down your lending choice - but you could feel out several to decide which you want to use now.

A good lender can give you advice on being ready to buy when the time comes and work with you and getting all the information you need when you apply.

When it comes to lenders, I trust Harlan Cooper in Cedar Hill the most. This man has been in the mortgage industry for several decades and is a walking encyclopedia of information. Not only that, but he is a friendly and accommodating person who loves to help my clients reach their home owning goals. He's been doing an awesome job for my buyers for almost 10 years now and he even just did a loan for my mother in law.

you can reach Harlan here:

Harlan M. Cooper
Affiliated Bank
610 Uptown Blvd., Suite 2000
Cedar Hill, TX 75104

Ofc: 972-572-5600
Cell: 214-284-5568
Fax: 972-283-5978
Toll-free: 866-458-5600

When the time comes, I would love to be your Realtor! Helping buyers is what I love best and I will work hard to find just what you are looking for.

Feel free to reach me any time with your real estate questions!

Miracle Bennett, REALTOR
RE/MAX Preferred Associates, Cedar Hill
0 votes Thank Flag Link Thu Sep 12, 2013
Its great you are thinking of buying in the next 7 months.
The timing is right.
Get all you balances (debt) to a minimum that is to less than 40% on any given credit card.
Do not CLOSE them.
Do not incure any major purchases and hope you do not change your job.
If married do the same.

Run your credit in December or January .... by talking to a reputable lender.
Where are you buying... state?? I have lenders that I can refer to that will help.

Also, please visit my links and provide a feedback.

Good luck.

Kadibhai (Kadi)
Better Homes & Gardens Gary Greene, Realtor Katy/Houston
Phone: 832-228-7978
Fax: 281-646 1841
Email: kadi.kadibhai@garygreene.com
Web: http://www.har.com/kadi
"The highest compliment I am ever given is when
I am referred to your family & friends!"

Save on Electricity/Gas & get it for FREE http://www.EZNFree.energy526.com
0 votes Thank Flag Link Thu Sep 12, 2013
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