ANGELO CHRISTIAN, THE HOME LOAN INSIDER
RMLO NMLS #156333 | Company NMLS #33131
RMLO NMLS #156333 | Company NMLS #33131
News: Refinance Home Mortgage Texas“Just call and listen in” to what my clients have to say.Free 24 hour pre-recorded message, Call 832 431 6331 and press ext. 1. Apply online and get a response within 24 hours. Call me right now to get help: Direct: 832.431.6331 Toll free: 1.888.202.4479 |
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Preparation is Key When Getting a Loan! Prepare Before You Apply for a Mortgage I read an article last week that said 3 out 5 loan applicants are denied for a loan? Five years ago 4 out 5 loan applicants were approved! It’s sad to hear but it’s also the reality of the times. The credit crisis has made it more difficult to get approved for a mortgage loan. So it’s more important than ever to prepare your credit for a mortgage application. Cleaning up your credit report and increasing your credit score will improve your chances of getting approved. If your credit’s already good, maintaining it will be key in locking in a low interest rate. Check your credit reports When you make your application, the mortgage lender look for three main things: a steady income, a down payment, and a solid credit history. Checking your credit report will let you see if there’s anything that’s hurting your credit. You never know which credit report the bank will pull, so check all three of them. Get a loan from a Trusted Source, Someone that knows what they are doing and that has experience. To get help with the best mortgage loan with the lowest interest rate, no service fee, no points, contact Angelo Christian . To get help with a reverse mortgage, credit, buying a home with FHA, USDA,VA, 100% Financing with fair or little credit or to refinance and take out cash contact Angelo Christian, toll free 1 888 202 4479 or email at angelo@wsmbanker.com . Here is the website as well, [1]http://www.angelochristian.com From all the options and lenders I spoke with they also have the best of terms with lowest rates in the market. They have worked with over 6000 people Here are the programs we offer: No Income Verification Loan for self-employed or investors. USDA 100% Mortgage New Home Buyer Loan with $0 Down FHA Reverse Mortgage with 30% off Closing Costs New Home Construction Loans Home Repair Loans FHA Mortgage with 3.5% down with a 580 score Mobile/Manufactured Home Loan Lending FHA with 10% down to 500 score VA 100% Mortgage down to 500 score Farm & Ranch Loans with unlimited Acreage Cash Out Debt Consolidation Loan AG exempt loans Too many credit inquires? Not a good thing. More inquires means lower credit score. When you go out shopping for a loan go with the trusted source. You don’t need to apply with ten lenders for to shop the rate or fees this will only hurt you on the long run. With all the inquires it will lower your credit score which means you may not get approved for the loan and get a higher rate. No short sale on credit If you had a short sale chances are you got behind on your mortgage either because you could not pay it or you got bad advice. The problem is if this happened to you may have to wait three years before you can get a home for that to cure. The good news is that if it was not handled correctly you can delete this off your credit report. Pay Rent? If you rent where you live now you need to pay it with a check! Don’t pay rent with cash. The underwriter will only accept checks from your bank account. If you paid with cash they wont accept it. Tax write-offs Biggest problem for alot of people is that they write off too many frivolous or nonrelated items on their tax return which lowers their income so they don’t qualify for the loan. Be careful with what you write-off because it will affect you. Revolving Debts If you have open credit accounts pay them down one month before applying for a loan, below 40% of the high credit limit. No credit will hurt you When applying for a loan underwriters like to see three open accounts for at-least 6 months –1 year that have been paid on time. If you have no new credit and a lot of old bad credit it makes it very hard to boost your credit score. Chances are your score is still low because you don’t have new credit to build on. There are a lot of ways to add credit to your profile to help strengthen and build our report, we can help with this. Dispute inaccurate information Misinformation can hurt your credit score and get your application denied . Get rid of any inaccurate information by disputing it with the credit bureau. If you have proof of the mistake, providing it will help ensure the mistake is removed from your report. Make sure disputes are closed out before applying for a loan Pay off delinquent accounts late accounts, charge-offs, collections, judgments Mortgage lenders need to be convinced that you’ll make your payments on time. Outstanding delinquencies will kill your chances of getting a mortgage. Pay off all accounts that are currently delinquent before putting in a mortgage application. Bury delinquencies with timely payments You need to establish a pattern of timely payments to get approved for a mortgage and get a competitive interest rate. If you have a recent late payment - or you've just paid off some delinquencies - wait at least six months before applying for a mortgage. The older the delinquency, the better your credit looks. Reduce your debt-to-income ratio Your mortgage underwriter will question your ability to make your mortgage payments if you have a high level of debt relative to your income. Bring your monthly debt payments to at most 12% of your income – the lower, the better. (After you get a mortgage mortgage, your debt-to-income ratio will skyrocket, but shouldn't be higher than 43% of your income.) Check your FICO score Order your Equifax and TransUnion FICO Scores to get an idea of where your credit stands, read through the included analysis to find out what’s bringing your score down. Note: Although lenders still use it, Experian no longer allows consumers to purchase a FICO score based Experian credit report data. If you want to get an idea of your Experian credit score Don't incur any new debt Taking on new debt makes a mortgage lender suspicious of your financial stability – even if your debt level stays below 12% of your income. It’s best to stay away from any new credit-based transactions until after you’ve gotten your mortgage. That includes applying for credit cards, especially since credit inquiries affect your credit score www.angelochristian.com Phone: 888 202 4479 ext 101 Email: angelo@wsmbanker.com Address: 1212 Stonehollow dr Suite 4 Kingwood, TX 77339 References 1. http://www.angelochristian.com/ |
We are approved to do Government loans. We are not a Government agency.
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