In the current economy, even home buyers with who have been responsible with their finances and saved toward their down payment often find it difficult to get approved for a mortgage. Two factors that often impact one’s ability to get a mortgage are outstanding debt and a low credit score. If outstanding debt or a low credit score has made it difficult to get approved for an affordable mortgage, the financial experts at LBhomes can help.
Increase Your Credit Score
Your credit score is one of the main factors affecting whether you will get approved for a mortgage. Unfortunately, credit reports are often highly inaccurate, incorrectly reporting creditor payments as late or reporting debts you don't owe. LBhomes has extensive experience evaluating credit reports and helping individuals improve their credit scores. Contact LBhomes for a free financial evaluation. If necessary, we will run your credit report to evaluate how we can help improve your credit score.
Eliminate Your Debt
One of the main factors affecting your ability to get a mortgage is your “debt-to-income ratio,” also known as DTI. The more debt you have, the worse your DTI will be, making it harder to get approved for a mortgage. LBhomes' financial consultants have assisted 100s of individuals settle their debt, improving their DTI and their ability to obtain a mortgage. Contact LBhomes for a free financial evaluation of your debt issues. If necessary, we will run your credit report to see what outstanding debts you have.
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