This is a wonderful article to share with clients as they start the process of looking for a lender who can give them a ore approval. Take a bit of time to fix your credit. It will save a lot of time in the long run! It is a good thing for us to show them how to be in control of their credit score at the very beginning
Do you have clients who were declined because their credit score was too low?
The fastest 2 ways to raise a credit score are:
1) Remove negative items
2) Pay down credit card balances
Every single mortgage company in the country has access to a program called a "Rapid Re-score" in which they can re-score the customer within 7 days.
If you have a client declined due to their credit score, the 2 questions which the loan officer should have asked them if they declined them due to their scores were 1) Are there negative items which we can get letters on to remove or correct and 2) Are there any credit cards which can be paid down
As always, if you have any questions or need a client Pre-Approved, call me at 1-216-780-1103 or shoot me a text. I specialize in difficult loans. Anyone can do loans for people with perfect credit, big down payments and holding the same job for 30 years. If you want to truly separate good from great, hand someone a 654 credit score or a 602 score or 596 score with a bankruptcy, two job changes, self-employed, 5 collections, 2 disputed accounts, gift money, and a prior foreclosure who is buying a manufactured home and THEN we will find out who the best person standing is and I am pretty confident that I'm staying on my feet. Try averaging about 15-20 of those per month by the way.
I am licensed in Ohio, Florida, Pennsylvania, Illinois, Michigan, Virginia, Georgia, Maine, Oklahoma, Texas, Colorado, Arizona, California and Washington.
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