Step 2: Credit

One of the most important factors lenders consider when reviewing your loan application is CREDIT.  Credit scores show the lender two important pieces of information - how you have repaid your loans in the past, and how likely you are to repay loans in the future.

In many cases, your credit score can influence what type of interest rate you receive, and even how many points you pay.  A few points on your credit score could even mean the difference between qualifying for a loan or not!

Because of the impact your credit offers to your mortgage, below are frequently asked questions about credit.  Use this as a starting point to see if you are ready for home ownership.  Although a higher score is always more desireable, a lower score does not automatically mean you will not qualify for a loan.  It is important that you contact one of our knowledgeable Loan Consultants to assist you in making this determination.  Let the experts work with you to be sure you're on the right path to home ownership!

What Is A Credit Score? - Explains the basics of credit scoreing and how lenders use it in their decision making process.

Your FICO Score - Reviews more detailed information regarding your FICO Score and the primary factors in determining your score.  There are also links to all three major credit reporting agencies (Equifax, Experian and TransUnion).

Improve Your Credit Score - Offers some options on ways to improve your credit score.

Mistakes on Your Report - Top reasons why mistakes appear on your credit report.

Disputing Credit Reports - 7 steps to resolving erroneous or old information on your credit reports.

Getting Your Credit Report - Information on how to order your own credit report for FREE online once per year.

Bankruptcy - Tips for recovery after you have filed bankruptcy.

Step 3: Pre-Qualification - Click here to find out more information about the pre-qualification process.