The best thing to do is work on your credit score. Although there is a minimum score, the lower the rating the higher your interest rate could be. You don't have far to go. I've helped a lot of people that were just shy of a "good score for a home loan." Don't give up, set your goal and make sure you're working very closely with your realtor. :) Call me if you don't have one yet. I'm here to help. 210-912-3244;
Give me a call, shoot me a text, or send me an e-mail... I'll send you to just the right place to get you going.
Jason C Campbell
Platinum Top 50 Finalist
Option One Real Estate
Please let me know if I can be of any further assistance!
"I'll Find You The House, You Make It A Home!"
Cornel "Chuck" Berry, REALTOR®, (USAF Retired),
Real Estate Consultant, Lic# 0615965,
GRI, ABR, CNE, TAHS, SFR, Cartus CSA/NBS, BS, MA,
Coldwell Banker D'Ann Harper, REALTORS®,
18756 Stone Oak Pkwy., Suite 101.
San Antonio, TX 78258.
Cell: (210) 683-1157
Direct: (210) 483-7552
Fax: (210) 483-4679
Web Page: http://www.chuckberryrealtor.com
NOTE: Texas requires REALTORS furnish consumer friendly information about Brokerage Services - click on the link: http://www.trec.state.tx.us/pdf/contracts/OP-K.pdf
The best compliment to a REALTOR is a referral!
If you know anyone with a Real Estate need, whether buying or selling, anywhere in the world, I can help! Get a **$50.00** referral fee for each buyer/seller you send to me, paid at closing!
It may take a while. Go back and look at my past answers on how to rebuild your credit. They are pretty extensive and will definitely get you moving in the right direction.
Hope this helps.
Don Groff | REALTOR® & Mortgage Broker
Austin Real Estate Pros & 360 Lending Group
o 512.669.5599 | m 512.633.4157 | firstname.lastname@example.org
websites: http://www.AustinListed.com | http://www.360LendingGroup.com
We see many credit reports with low credit scores (anything less than 620), and often many scores in the 500's. This is BAD credit. If you are one of the folks affected by this terrible economy, you have a low credit score and you have a dream of buying a home, here's some simple advice for you.
It is unlikely you could be approved for mortgage financing with that credit score at this time.
Beware of any mortgage professionals promising you an approval with such a low score. Wait on buying a home. I recommend you take the time to resolve your credit issues.
First, settle any outstanding debt. If you owe money on collection accounts, charge-offs and/or judgments, make payment arrangements and get these accounts paid promptly.
Next, begin rebuilding your credit. If you have current accounts with good payment histories, or even some previous late-payment-blemishes, make sure you continue to pay those accounts on time. If you do not have any existing credit accounts then you'll need to establish several in order to create a viable credit history.
I have found that CONSUMER ACTION is an excellent resource for objective advice on all things credit related. You'll find free and sincere advice on everything from settling collection accounts to rebuilding credit to building credit from scratch on their website.
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.
The best way to buy a home is to have a decent credit history combined with sufficient Income and Assets for a home purchase.
The best way to have a decent credit history is to settle negative outstanding obligations and pay all your bills on time for at least two years.
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