Do you have credit problems? You’re not alone; recent surveys in the United States reported that one in four consumers has a serious error in his or her credit report. However, most home buyers don’t find out about their credit problems until they apply for financing in the midst of a purchase.
On the other hand, many home buyers have perfect credit, but fail the debt-to-income ratio qualification. Our Real Estate agents can help you do two things so that you can get the credit you need to buy real estate:
1) Improve your credit score
2) Improve your purchasing power.
Purchasing the real estate on credit!
It is put into practice both in the USA and in Europe. Each country has its own crediting system, but they are similar in one point the crediting system helps the citizens to purchase the thing that they can not save for.
If you have decided either to purchase an apartment in a new your dwelling conditions:
- You want a larger apartment than the one is for which your accounts are payable;
- You have the sum for initial payment, not less than 25 per cent from the market value of the apartment;
- You have stable income;
- You do not have opportunity to accumulate the necessary sum, to pay the whole value of the new apartment.
Then, visit us, we can help you:
- To estimate your financial potentialities truly;
- To define the sum of money resources, which you are going to spend for the initial payment of the future apartment;
- To decide the amount of deduction per month for the credit repayment;
- To choose the dwelling where you are going to live.
We shall decide all other problems for you!
You do not need:
- To choose the bank for the necessary bank credit
- To study the programs of the banks which are suggested at the market of credit production
- To coordinate the purchase of the preferable apartment with the bank and with the company, from which one you intend to purchase
- To put in order the documents for the apartment and the real estate object.
Real Estate Credit
Credit needed to buy real estate is not the same thing as having good credit scores.
Besides your credit score, mortgage lenders consider your debt-to-income ratio and other credit matters, unlike other credit grantors. Qualifications for consumer credit, such as credit cards, personal finance company loans, and auto financing, differ from mortgage qualifications.
In fact, you get different credit score ratings when you shop for an auto or consumer loan. Read that again. You get different credit score ratings from different types of lenders. Loan officers for mortgages see a different credit score number than an auto finance credit manager sees.
Don't waste your money buying your credit score. The score you get will not be the same score a car dealer or a mortgage lender sees.
When you apply for financing to buy real estate, lenders review your credit report, which they rate by your credit score. To qualify for mortgage financing, other factors come into play. Understanding all the qualifications helps you prepare for the best possible rates and the lowest mortgage costs.
The most common mistakes that can NOT be undone
- Disputes of derogatory accounts that actually
It is usually impossible to get closed accounts re-reported after deletion due to disputes of old and irrelevant late payments. Even the deletion of a charge-off can lower FICO scores because the account history increases the scores by more points than are lost due to the charge-off.
- Payment of collections, judgments or liens
A collection, judgment or lien reported as PAID will not increase FICO scores and you lose your rights under the Fair Debt Collection Practices Act once a collection is paid. While accounts may have to be settled in some situations, there are legitimate ways to try to get deletion first.
- Submission of false or frivolous disputes as by
credit repair outfits like Lexington, Bradley Ross, Credit Attorney,
The credit bureaus may refuse future legitimate disputes of relevant incorrect data and it's difficult to prevail in court when the credit bureaus can document that you lied in your disputes. You may not plan on suing, but when the credit bureaus know that you submitted frivolous or false disputes, they can make it even harder for you to get the credit you deserve.
- Reviewing credit scores other than FICO scores and
following CRAs', Fair Isaac's and Suze Orman's advice
Only the FICO scores are used to rate mortgages. The scores sold by the credit bureaus are a total fraud and nothing but a way to get your money while at the same time keeping your FICO scores low due to their horrible advice.