Friday, October 9, 2015

I Can't Buy A House Because My Credit Sucks!

You wouldn't believe how many times I hear this!  And the scary thing about it is that it's not always true!!!  There are a few different reasons why people think this and there are solutions too.  Here are a few.

1.  There are many different avenues out there that promise to give you your credit score / FICO score.  What most people don't understand is that the formula that goes into creating these scores are not the same ones that go into the scores that a lender look at.  Don't just jump to the conclusion that it's not good enough.  

2.  The last lender that I spoke to said that I cannot get a loan.  This very well could be true.  However, each lender has different credit scores that they are allowed to accept and they also have different requirements for what can be on your credit before they accept / deny you.  I am lucky enough to work with amazing lenders that are able to help people every day get a loan for their home.

3.  I have student debt / medical bills that are bringing my score down.  Again, this goes back to the statement in #2.  Every lender is different and there are some lenders that take this into account when they are looking at your account.

4.  I haven't been at this job long enough.  If you have a job history of 3 years but it hasn't been at the same location, sometimes that is okay.  It is a matter of if you bettered your job, if you stayed within the same field of work, etc.  

5.  I don't know what my credit score is!  I wish that people would just sometimes say this straight.  Just like this lol.

I am sure that there are many other reason that could be put out there as to why someone isn't able to get a loan for a home.  The answer is something that we all know but don't live don't know until you ask.  But it doesn't stop there.  You have to ask the RIGHT people!  The lenders that I work with are more than willing to take a look at your credit and give you an honest answer.

I am currently working with someone who had visited me at an open house for a rental.  She thought that she wasn't able to purchase a home but took the chance to speak with one of my people.  He looked at her credit, found there were only a couple of things that she needed to do to get her score up.  She listened and within a month we are looking for her 1st home for her and her family.  It really could be that simple.  But, it's not always that way.  I'll take off the rose-colored glasses for a moment to say there are going to be some instances where it just isn't possible.  Again, you will never know if you don't ask!!!!

If you're willing to take that leap of faith and find out ~ no obligations attached ~ if now could be the time for you to purchase your home, Just click this link I Want A Home with the same words as your Subject and I will send you over the list of my trusted Lenders that can get the job done if at all possible.  Don't delay.  We could be searching for your next house tomorrow!

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