Baltimore Mortgage Loan Credit Repair

Baltimore Credit Repair Today can assist you with your mortgage loan problems. Your low mortgage score could hurt your chances of getting a new mortgage. It could also provide you with a mortgage a very high interest rate which could cost you thousands of dollars. Our mortgage loan credit repair team can help you fix your credit. We are experts at preparing client’s credits for a mortgage application.

Credit Score Components

In order to improve your credit, score we must consider the five components of the score. Your payment history accounts for 35% of your score. Late payments can quickly lower your score. Amount owed is 30% of the score. You need to maintain available credit while avoiding high balances. The remainder of your score is based on credit history, credit mix and new credit. We can analyze your credit report and help you get control of it. We will prep and teach you how to improve each part of your credit score.

Mortgage Loan Credit Repair

The team at Baltimore Credit Repair Today has helped hundreds of families purchase a home. We have an expert team that provides mortgage loan credit repair services to Baltimore MD. In a few months, we can transform your poor credit score to good score that will qualify for mortgages at most banks. We will analyze your credit reports and help you improve your credit safely and quickly. Our credit repair services have helped hundreds of local customers move into their dream homes.

Your Credit Score

Your credit score is the first thing every lender will look at when you apply for a mortgage. If you have a poor score you unfortunately have a slim chance of qualifying for a loan. The team at Baltimore Credit Repair Today strives to provide the best credit repair services in Baltimore. We will educate you about your credit score and how to change it. Our team can provide you with a game plan that will ensure no further negative marks on your report. If you follow our suggestions your credit score will grow steadily and you can begin the mortgage hunting process.

Loan Options

While your score is rebuilding there are a few other options that we can investigate for your mortgage or loan. Federal Housing Administration (FHA) offers loans for customers will poor credit. You will need a score of 520 and a small down payment to qualify for an FHA loan. The minimum amount down is 3.5% which is far less than the normal 20% needed at most banks. If you’ve been with your current bank for a very long time, we suggest you apply for a mortgage with them. Your long-term relationship could help sway their decision. Finally, you should start saving up for a down payment. Standard down payments are 20%. The higher you can put down the better.