If you’re ready to be a homeowner but worried your credit scores won’t get you in the door, don’t! There are a lot of loan programs to help first-time buyers – and those with less-than-stellar credit.
Homeownership can be both a blessing and a curse. In honor of National Homeownership Month in June, we wanted to shine a light on home improvement financing to help improve your quality of life.
Knowing where you stand with all three credit bureaus before you start house hunting is key. If your credit scores aren’t “move-in ready,” getting them in shape will help you get a lower interest rate – and afford you more home.
If you are thinking of applying for a home equity loan, make sure you understand how your payment history on your current mortgage and your overall credit history will affect your chances of qualifying and the interest rate deals that lenders will offer you.
You want to buy a home, but you have not yet made that all-important decision: New home or existing home? Whatever the decision, having good credit scores will likely help you negotiate a better deal on your mortgage.
If you are thinking about moving, you may want to review your financing options and the mortgage lender before scouring the real estate listings. Different types of mortgage lenders offer distinct advantages.