 At Helpbringer, we don’t automatically rule out your mortgage application if your credit isn’t perfect. We’ve helped many people over the years become homeowners. No matter what type of loan challenge you are facing, we may be able to help. Contact us today and a friendly, helpful member of our staff will provide personal service.
Credit Ratings
Your credit score is used to determine the risk of an individual not repaying a loan. The lower your score, the higher that risk has been determined to be. A company called the Fair Isaac Corporation is responsible for these scores, also known as FICO scores. Credit scores are derived from reports kept by major credit agencies. These agencies track the amount of debt consumers have taken on and whether they pay their bills on time.
Credit scores have a direct impact on your chances of qualifying when you apply for a mortgage. Credit scores range from 350-850. Consumers with scores below 600 may be charged higher loan rates, while those with scores above 600 are generally charged lower rates.
If you are interested in purchasing a home, Contact Helpbringer Mortgage now to get information on your credit score and the amount of loan you qualify for.
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