Mortgage professionals are confused at the number of buyers who want to purchase a home knowing they have bad credit and have not done anything to fix it and wonder why they can't get approved or why there interest rates are so high.
Before, trying to obatin financing on a home you should make sure your credit is in order and there is not outstanding debt. If you want a Good Loan Program or Good 30yr Fixed interest rate. You need to beware of your credit issues before buying. 1st Check your credit see what issues if any need attention. If you have issues the best way to get resolved is writing to credit bureaus or if you have charge offs you will need to pay them. Most creditors will settle for less than the full amount. This will dramatically raise your score. also keeping credit cards at 33% or lower of high credit meaning if your high credit is $1000.00 keep your balance no higher than $330.00 and doing just these two things will help you obtain a high credit score. Remember start this process 8 to 10 months before buying a home. So you have enough time to take care of everything.
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