Mortgage Loan

CAN I GET A MORTGAGE WITH BAD CREDIT?

CAN I GET A MORTGAGE WITH BAD CREDIT?

If you have bad credit and want to obtain a mortgage to buy a new home, you may feel as though it's impossible since lenders tightened their eligibility rules. There are plenty of so-called “options” available on the Internet for bad credit loans, but you must be very careful to watch out for scams.

Mortgage laws have changed in recent years but, the following general guidelines apply:

• Your credit report must have fewer than two 30-day-late payments in the past two years. 

• Bankruptcies must be at least two years ago, with excellent credit history since then.

• Foreclosures must be at least three years ago, with excellent credit history since then.

If you have a few minor negative marks on your credit, you might be better off simply waiting a few months for those to clear (while continuing to make all your payments on time, of course). Alternatively, you may ask a creditor to remove a single late payment flag from your report—though it's up to the creditor to do it.

If you've had serious financial trouble, you'll need to shop for a mortgage loan from several lenders. Don't assume you're actually prequalified for a mortgage just because you filled out an online form and received several offers. You'll need to follow through with the process of applying for a mortgage with each lender to make sure the offers are real.

It's best if you talk to a loan officer in person and get your questions answered on the spot. Even if the first bank you talk to won't give you a mortgage because you have bad credit, the loan officer can help you understand what needs to be done in order to secure a mortgage.

It's not impossible to get a mortgage with bad credit, but it is more difficult. Work with several potential lenders and don't settle for the first approval. Even though you have bad credit, there are several places in the process where you can negotiate a better deal. Give us a call and we can put you in touch with a mortgage professional that can give you all of your options.

Search all Louisville Real Estate for sale by area, price, year built, square footage or any other detail on Louisville's finest MLS search site.

...

CAN I GET A MORTGAGE WITH BAD CREDIT?

CAN I GET A MORTGAGE WITH BAD CREDIT?

If you have bad credit and want to obtain a mortgage to buy a new home, you may feel as though it's impossible since lenders tightened their eligibility rules. There are plenty of so-called “options” available on the Internet for bad credit loans, but you must be very careful to watch out for scams.

Mortgage laws have changed in recent years but, the following general guidelines apply:

• Your credit report must have fewer than two 30-day-late payments in the past two years. 

• Bankruptcies must be at least two years ago, with excellent credit history since then.

• Foreclosures must be at least three years ago, with excellent credit history since then.

If you have a few minor negative marks on your credit, you might be better off simply waiting a few months for those to clear (while continuing to make all your payments on time, of course). Alternatively, you may ask a creditor to remove a single late payment flag from your report—though it's up to the creditor to do it.

If you've had serious financial trouble, you'll need to shop for a mortgage loan from several lenders. Don't assume you're actually prequalified for a mortgage just because you filled out an online form and received several offers. You'll need to follow through with the process of applying for a mortgage with each lender to make sure the offers are real.

It's best if you talk to a loan officer in person and get your questions answered on the spot. Even if the first bank you talk to won't give you a mortgage because you have bad credit, the loan officer can help you understand what needs to be done in order to secure a mortgage.

It's not impossible to get a mortgage with bad credit, but it is more difficult. Work with several potential lenders and don't settle for the first approval. Even though you have bad credit, there are several places in the process where you can negotiate a better deal. Give us a call and we can put you in touch with a mortgage professional that can give you all of your options.

Search all Louisville Real Estate for sale by area, price, year built, square footage or any other detail on Louisville's finest MLS search site.

...

CAN I GET A MORTGAGE WITH BAD CREDIT?

CAN I GET A MORTGAGE WITH BAD CREDIT?

If you have bad credit and want to obtain a mortgage to buy a new home, you may feel as though it's impossible since lenders tightened their eligibility rules. There are plenty of so-called “options” available on the Internet for bad credit loans, but you must be very careful to watch out for scams.

Mortgage laws have changed in recent years but, the following general guidelines apply:

• Your credit report must have fewer than two 30-day-late payments in the past two years. 

• Bankruptcies must be at least two years ago, with excellent credit history since then.

• Foreclosures must be at least three years ago, with excellent credit history since then.

If you have a few minor negative marks on your credit, you might be better off simply waiting a few months for those to clear (while continuing to make all your payments on time, of course). Alternatively, you may ask a creditor to remove a single late payment flag from your report—though it's up to the creditor to do it.

If you've had serious financial trouble, you'll need to shop for a mortgage loan from several lenders. Don't assume you're actually prequalified for a mortgage just because you filled out an online form and received several offers. You'll need to follow through with the process of applying for a mortgage with each lender to make sure the offers are real.

It's best if you talk to a loan officer in person and get your questions answered on the spot. Even if the first bank you talk to won't give you a mortgage because you have bad credit, the loan officer can help you understand what needs to be done in order to secure a mortgage.

It's not impossible to get a mortgage with bad credit, but it is more difficult. Work with several potential lenders and don't settle for the first approval. Even though you have bad credit, there are several places in the process where you can negotiate a better deal. Give us a call and we can put you in touch with a mortgage professional that can give you all of your options.

Search all Louisville Real Estate for sale by area, price, year built, square footage or any other detail on Louisville's finest MLS search site.

...

CAN I GET A MORTGAGE WITH BAD CREDIT?

CAN I GET A MORTGAGE WITH BAD CREDIT?

If you have bad credit and want to obtain a mortgage to buy a new home, you may feel as though it's impossible since lenders tightened their eligibility rules. There are plenty of so-called “options” available on the Internet for bad credit loans, but you must be very careful to watch out for scams.

Mortgage laws have changed in recent years but, the following general guidelines apply:

• Your credit report must have fewer than two 30-day-late payments in the past two years. 

• Bankruptcies must be at least two years ago, with excellent credit history since then.

• Foreclosures must be at least three years ago, with excellent credit history since then.

If you have a few minor negative marks on your credit, you might be better off simply waiting a few months for those to clear (while continuing to make all your payments on time, of course). Alternatively, you may ask a creditor to remove a single late payment flag from your report—though it's up to the creditor to do it.

If you've had serious financial trouble, you'll need to shop for a mortgage loan from several lenders. Don't assume you're actually prequalified for a mortgage just because you filled out an online form and received several offers. You'll need to follow through with the process of applying for a mortgage with each lender to make sure the offers are real.

It's best if you talk to a loan officer in person and get your questions answered on the spot. Even if the first bank you talk to won't give you a mortgage because you have bad credit, the loan officer can help you understand what needs to be done in order to secure a mortgage.

It's not impossible to get a mortgage with bad credit, but it is more difficult. Work with several potential lenders and don't settle for the first approval. Even though you have bad credit, there are several places in the process where you can negotiate a better deal. Give us a call and we can put you in touch with a mortgage professional that can give you all of your options.

Search all Louisville Real Estate for sale by area, price, year built, square footage or any other detail on Louisville's finest MLS search site.

...

HOW LONG DOES IT TAKE TO GET A MORTGAGE?

HOW LONG DOES IT TAKE TO GET A MORTGAGE?

As you begin shopping for a new home, one question will weigh heavily on your mind: “How long will it take to get a mortgage?” For an extremely tiny minority of home buyers, it will take a few days to apply for a mortgage, get approved, and finalize the contract on a new home.

For the vast majority of home buyers getting a mortgage may take four to six weeks or even longer, if there are negative marks on your credit report or small debts you'd like to pay off before applying for a home loan. It can be very hard to be patient with the process.

Applying for a mortgage may seem mysterious (and even dangerous!), but the process is usually straightforward. Here's what generally happens, in the simplest terms possible.

First Step: Apply for a New Home Loan 

First, you'll talk to a mortgage loan officer who will explain a number of terms used in the mortgage industry: fixed rate, adjustable rate, jumbo loans, subprime, 30-year and 15-year, and a bunch of industry terms.

Keep asking questions until you understand and can make a good decision about what type of mortgage loan would be best for your situation. Remember, there are plenty of mortgage lenders in the industry. If the first one you talk to seems like a bad fit, talk to another. Plus it's always good to get several quotes as rates and closing costs can vary dramatically between lenders.

During the mortgage planning phase, you'll discuss financial details on the application and get a good idea of what your monthly payment might be. The loan officer then sends your paperwork to an underwriter who looks it over and asks questions, and may require more paperwork to approve the application to move on in the process.

 

Second Step: Finalizing Paperwork and Securing a Pre-Approved Mortgage?

Once you've found a good mortgage lender and moved through the prequalification process, it's time to decide on the home you want to buy. At this point, ask your realtor to step in to find an affordable property that meets your needs.

Take the information your realtor provides back to your mortgage lender and plug in the numbers: the price of the home, estimated annual insurance and property tax costs, the required down payment, and any other costs that will be paid by you, the buyer.

The loan officer will give you final estimates on the interest rate and points that may apply to the loan and should be able to generate a realistic target payment and all the financial information that describes the proposed loan. This is usually called a Good Faith Estimate of Closing Costs. Make sure you understand all the terms so you're not unpleasantly surprised!

 

Third Step: Closing the Deal on Your New Home?

In the final stage of getting a mortgage, you'll tie up a whole bunch of loose ends. The home will need to be appraised and inspected and reports submitted to the mortgage company. A title search will be conducted, and the mortgage company will want evidence of that. You'll definitely need to secure home owners insurance before the closing date, too.

 Work closely with both your realtor and your mortgage lender at this time, and be prompt about providing paperwork at both ends of the process. Definitely pay attention to amounts you're asked to bring to the closing for down payment and closing costs. The funds you bring to closing must be in the form a certified or cashiers check. You will also need to bring two forms of indentification one of which must be a picture ID.

You've worked hard over the past few weeks to apply for a mortgage, shop for an affordable home, and get to the moment of closing the deal. It might feel like a journey of a thousand miles, but if you ask for help along the way the process is much less frustrating.

At this stage, you're days away from owning a new home! Celebrate your accomplishment and look back on the past few weeks with pride. You've done it!

At the Brad Long Real Estate Group will will walk you through the process from begining to end.

Search all Louisville Real Estate for sale by area, price,  year built, square footage or any other detail on Louisville's superior MLS search engine.

...

HOW LONG DOES IT TAKE TO GET A MORTGAGE?

HOW LONG DOES IT TAKE TO GET A MORTGAGE?

As you begin shopping for a new home, one question will weigh heavily on your mind: “How long will it take to get a mortgage?” For an extremely tiny minority of home buyers, it will take a few days to apply for a mortgage, get approved, and finalize the contract on a new home.

For the vast majority of home buyers getting a mortgage may take four to six weeks or even longer, if there are negative marks on your credit report or small debts you'd like to pay off before applying for a home loan. It can be very hard to be patient with the process.

Applying for a mortgage may seem mysterious (and even dangerous!), but the process is usually straightforward. Here's what generally happens, in the simplest terms possible.

First Step: Apply for a New Home Loan 

First, you'll talk to a mortgage loan officer who will explain a number of terms used in the mortgage industry: fixed rate, adjustable rate, jumbo loans, subprime, 30-year and 15-year, and a bunch of industry terms.

Keep asking questions until you understand and can make a good decision about what type of mortgage loan would be best for your situation. Remember, there are plenty of mortgage lenders in the industry. If the first one you talk to seems like a bad fit, talk to another. Plus it's always good to get several quotes as rates and closing costs can vary dramatically between lenders.

During the mortgage planning phase, you'll discuss financial details on the application and get a good idea of what your monthly payment might be. The loan officer then sends your paperwork to an underwriter who looks it over and asks questions, and may require more paperwork to approve the application to move on in the process.

 

Second Step: Finalizing Paperwork and Securing a Pre-Approved Mortgage?

Once you've found a good mortgage lender and moved through the prequalification process, it's time to decide on the home you want to buy. At this point, ask your realtor to step in to find an affordable property that meets your needs.

Take the information your realtor provides back to your mortgage lender and plug in the numbers: the price of the home, estimated annual insurance and property tax costs, the required down payment, and any other costs that will be paid by you, the buyer.

The loan officer will give you final estimates on the interest rate and points that may apply to the loan and should be able to generate a realistic target payment and all the financial information that describes the proposed loan. This is usually called a Good Faith Estimate of Closing Costs. Make sure you understand all the terms so you're not unpleasantly surprised!

 

Third Step: Closing the Deal on Your New Home?

In the final stage of getting a mortgage, you'll tie up a whole bunch of loose ends. The home will need to be appraised and inspected and reports submitted to the mortgage company. A title search will be conducted, and the mortgage company will want evidence of that. You'll definitely need to secure home owners insurance before the closing date, too.

 Work closely with both your realtor and your mortgage lender at this time, and be prompt about providing paperwork at both ends of the process. Definitely pay attention to amounts you're asked to bring to the closing for down payment and closing costs. The funds you bring to closing must be in the form a certified or cashiers check. You will also need to bring two forms of indentification one of which must be a picture ID.

You've worked hard over the past few weeks to apply for a mortgage, shop for an affordable home, and get to the moment of closing the deal. It might feel like a journey of a thousand miles, but if you ask for help along the way the process is much less frustrating.

At this stage, you're days away from owning a new home! Celebrate your accomplishment and look back on the past few weeks with pride. You've done it!

At the Brad Long Real Estate Group will will walk you through the process from begining to end.

Search all Louisville Real Estate for sale by area, price,  year built, square footage or any other detail on Louisville's superior MLS search engine.

...

HOW LONG DOES IT TAKE TO GET A MORTGAGE?

HOW LONG DOES IT TAKE TO GET A MORTGAGE?

As you begin shopping for a new home, one question will weigh heavily on your mind: “How long will it take to get a mortgage?” For an extremely tiny minority of home buyers, it will take a few days to apply for a mortgage, get approved, and finalize the contract on a new home.

For the vast majority of home buyers getting a mortgage may take four to six weeks or even longer, if there are negative marks on your credit report or small debts you'd like to pay off before applying for a home loan. It can be very hard to be patient with the process.

Applying for a mortgage may seem mysterious (and even dangerous!), but the process is usually straightforward. Here's what generally happens, in the simplest terms possible.

First Step: Apply for a New Home Loan 

First, you'll talk to a mortgage loan officer who will explain a number of terms used in the mortgage industry: fixed rate, adjustable rate, jumbo loans, subprime, 30-year and 15-year, and a bunch of industry terms.

Keep asking questions until you understand and can make a good decision about what type of mortgage loan would be best for your situation. Remember, there are plenty of mortgage lenders in the industry. If the first one you talk to seems like a bad fit, talk to another. Plus it's always good to get several quotes as rates and closing costs can vary dramatically between lenders.

During the mortgage planning phase, you'll discuss financial details on the application and get a good idea of what your monthly payment might be. The loan officer then sends your paperwork to an underwriter who looks it over and asks questions, and may require more paperwork to approve the application to move on in the process.

 

Second Step: Finalizing Paperwork and Securing a Pre-Approved Mortgage?

Once you've found a good mortgage lender and moved through the prequalification process, it's time to decide on the home you want to buy. At this point, ask your realtor to step in to find an affordable property that meets your needs.

Take the information your realtor provides back to your mortgage lender and plug in the numbers: the price of the home, estimated annual insurance and property tax costs, the required down payment, and any other costs that will be paid by you, the buyer.

The loan officer will give you final estimates on the interest rate and points that may apply to the loan and should be able to generate a realistic target payment and all the financial information that describes the proposed loan. This is usually called a Good Faith Estimate of Closing Costs. Make sure you understand all the terms so you're not unpleasantly surprised!

 

Third Step: Closing the Deal on Your New Home?

In the final stage of getting a mortgage, you'll tie up a whole bunch of loose ends. The home will need to be appraised and inspected and reports submitted to the mortgage company. A title search will be conducted, and the mortgage company will want evidence of that. You'll definitely need to secure home owners insurance before the closing date, too.

 Work closely with both your realtor and your mortgage lender at this time, and be prompt about providing paperwork at both ends of the process. Definitely pay attention to amounts you're asked to bring to the closing for down payment and closing costs. The funds you bring to closing must be in the form a certified or cashiers check. You will also need to bring two forms of indentification one of which must be a picture ID.

You've worked hard over the past few weeks to apply for a mortgage, shop for an affordable home, and get to the moment of closing the deal. It might feel like a journey of a thousand miles, but if you ask for help along the way the process is much less frustrating.

At this stage, you're days away from owning a new home! Celebrate your accomplishment and look back on the past few weeks with pride. You've done it!

At the Brad Long Real Estate Group will will walk you through the process from begining to end.

Search all Louisville Real Estate for sale by area, price,  year built, square footage or any other detail on Louisville's superior MLS search engine.

...

Top 10 Credit Don'ts

THINGS NOT TO DO DURING THE LOAN PROCESS

1.       Don’t Do Anything That Will Cause A Red Flag To Be Raised By The Scoring System. This may include adding new accounts, co-signing on a loan, changing your name or address with the bureaus. Generally, the less new activity on your reports during the loan process, the better.

 

2.       Don’t Apply For New Credit Of Any Kind. Including those “You have been pre-approved “credit card invitations that you receive in the mail or online. Every time that you have your credit pulled by a potential creditor you could lose points from your credit score. Depending on the elements in your current credit report, you could lose anywhere from one to twenty points for one hard inquiry. For lender inquiries as of Jan. 2007, any indicial inquiries count as one incident through a duration of 45 days.

 

3.       Don’t Pay Off Collections or Charge Offs During The Loan Process. Unless you can negotiate a delete letter, paying collections will usually decrease your credit score immediately due to the date of last activity becoming recent. If you want to pay off old accounts, consider doing it through escrow at closing.

 

4.       Don’t Max Out Or Over Charge Your Credit Card Accounts. This is typically the fastest way to bring credit scores down 50-100 points. Try keeping your credit card balances below 30% of their available limit at all times during the loan process. If you decide to pay down balances, consider doing it across the board - meaning, pay balances to bring your balance to limit ratio to the same level on each card (i.e. all 30% of the limit, or all 40% etc.)

 

5.       Don’t Consolidate Your Debt Into One Or Two Credit Cards. It seems like this would be the smart thing to do; however, when you consolidate all of your debt into one credit card, it may appear that you are maxed out on that card and the system will penalize you as mentioned in above item #4. If you want to save money on credit card interest rates, consider waiting until after closing.

 

6.       Don’t Close Credit Card Accounts. If you close a credit card account, you may lose available credit and it might appear to the FICO that your debt ratio has gone up. Also, closing a card may affect other factors in the score such as length of credit history. If you have to close a credit card account, think about doing it after closing.

 

7.       Don’t Pay Late. Stay current on existing accounts. Under the new FICO scoring models, one 30-day late could cost you anywhere from 50-100 points. Points lost for late pays may take several months if not years to recover.

 

8.       Don’t Allow Any Accounts To Run Past Due—Even 1 Day! Most cards offer a grace period; however, what they may not tell you is that once the due date passes, that account could show up past due on your credit report. Past due balances can also drop scores by 50+ points.

 

9.       Don’t Dispute Anything On Your Credit Report Once The Loan Process Is Started. When you send a letter of dispute to the credit report agencies a note is added to your credit report. In many cases when an underwriter notices a dispute they may not process the loan until the dispute is removed.

 

10.   Don’t Lose Contact With Your Mortgage And Real Estate Professionals. If you have a question or not if you should take a specific action that you believe may affect your credit reports or scores during the loan process, your mortgage or real estate professional may be able to supply you with the resources you need to avoid making mistakes that could drop your credit score or affect your loan.

 

Any questions about credit or Louisville Real Estate please contact us at The Brad Long Real Estate Group.

...

Top 10 Credit Don'ts

THINGS NOT TO DO DURING THE LOAN PROCESS

1.       Don’t Do Anything That Will Cause A Red Flag To Be Raised By The Scoring System. This may include adding new accounts, co-signing on a loan, changing your name or address with the bureaus. Generally, the less new activity on your reports during the loan process, the better.

 

2.       Don’t Apply For New Credit Of Any Kind. Including those “You have been pre-approved “credit card invitations that you receive in the mail or online. Every time that you have your credit pulled by a potential creditor you could lose points from your credit score. Depending on the elements in your current credit report, you could lose anywhere from one to twenty points for one hard inquiry. For lender inquiries as of Jan. 2007, any indicial inquiries count as one incident through a duration of 45 days.

 

3.       Don’t Pay Off Collections or Charge Offs During The Loan Process. Unless you can negotiate a delete letter, paying collections will usually decrease your credit score immediately due to the date of last activity becoming recent. If you want to pay off old accounts, consider doing it through escrow at closing.

 

4.       Don’t Max Out Or Over Charge Your Credit Card Accounts. This is typically the fastest way to bring credit scores down 50-100 points. Try keeping your credit card balances below 30% of their available limit at all times during the loan process. If you decide to pay down balances, consider doing it across the board - meaning, pay balances to bring your balance to limit ratio to the same level on each card (i.e. all 30% of the limit, or all 40% etc.)

 

5.       Don’t Consolidate Your Debt Into One Or Two Credit Cards. It seems like this would be the smart thing to do; however, when you consolidate all of your debt into one credit card, it may appear that you are maxed out on that card and the system will penalize you as mentioned in above item #4. If you want to save money on credit card interest rates, consider waiting until after closing.

 

6.       Don’t Close Credit Card Accounts. If you close a credit card account, you may lose available credit and it might appear to the FICO that your debt ratio has gone up. Also, closing a card may affect other factors in the score such as length of credit history. If you have to close a credit card account, think about doing it after closing.

 

7.       Don’t Pay Late. Stay current on existing accounts. Under the new FICO scoring models, one 30-day late could cost you anywhere from 50-100 points. Points lost for late pays may take several months if not years to recover.

 

8.       Don’t Allow Any Accounts To Run Past Due—Even 1 Day! Most cards offer a grace period; however, what they may not tell you is that once the due date passes, that account could show up past due on your credit report. Past due balances can also drop scores by 50+ points.

 

9.       Don’t Dispute Anything On Your Credit Report Once The Loan Process Is Started. When you send a letter of dispute to the credit report agencies a note is added to your credit report. In many cases when an underwriter notices a dispute they may not process the loan until the dispute is removed.

 

10.   Don’t Lose Contact With Your Mortgage And Real Estate Professionals. If you have a question or not if you should take a specific action that you believe may affect your credit reports or scores during the loan process, your mortgage or real estate professional may be able to supply you with the resources you need to avoid making mistakes that could drop your credit score or affect your loan.

 

Any questions about credit or Louisville Real Estate please contact us at The Brad Long Real Estate Group.

...

Top 10 Credit Don'ts

THINGS NOT TO DO DURING THE LOAN PROCESS

1.       Don’t Do Anything That Will Cause A Red Flag To Be Raised By The Scoring System. This may include adding new accounts, co-signing on a loan, changing your name or address with the bureaus. Generally, the less new activity on your reports during the loan process, the better.

 

2.       Don’t Apply For New Credit Of Any Kind. Including those “You have been pre-approved “credit card invitations that you receive in the mail or online. Every time that you have your credit pulled by a potential creditor you could lose points from your credit score. Depending on the elements in your current credit report, you could lose anywhere from one to twenty points for one hard inquiry. For lender inquiries as of Jan. 2007, any indicial inquiries count as one incident through a duration of 45 days.

 

3.       Don’t Pay Off Collections or Charge Offs During The Loan Process. Unless you can negotiate a delete letter, paying collections will usually decrease your credit score immediately due to the date of last activity becoming recent. If you want to pay off old accounts, consider doing it through escrow at closing.

 

4.       Don’t Max Out Or Over Charge Your Credit Card Accounts. This is typically the fastest way to bring credit scores down 50-100 points. Try keeping your credit card balances below 30% of their available limit at all times during the loan process. If you decide to pay down balances, consider doing it across the board - meaning, pay balances to bring your balance to limit ratio to the same level on each card (i.e. all 30% of the limit, or all 40% etc.)

 

5.       Don’t Consolidate Your Debt Into One Or Two Credit Cards. It seems like this would be the smart thing to do; however, when you consolidate all of your debt into one credit card, it may appear that you are maxed out on that card and the system will penalize you as mentioned in above item #4. If you want to save money on credit card interest rates, consider waiting until after closing.

 

6.       Don’t Close Credit Card Accounts. If you close a credit card account, you may lose available credit and it might appear to the FICO that your debt ratio has gone up. Also, closing a card may affect other factors in the score such as length of credit history. If you have to close a credit card account, think about doing it after closing.

 

7.       Don’t Pay Late. Stay current on existing accounts. Under the new FICO scoring models, one 30-day late could cost you anywhere from 50-100 points. Points lost for late pays may take several months if not years to recover.

 

8.       Don’t Allow Any Accounts To Run Past Due—Even 1 Day! Most cards offer a grace period; however, what they may not tell you is that once the due date passes, that account could show up past due on your credit report. Past due balances can also drop scores by 50+ points.

 

9.       Don’t Dispute Anything On Your Credit Report Once The Loan Process Is Started. When you send a letter of dispute to the credit report agencies a note is added to your credit report. In many cases when an underwriter notices a dispute they may not process the loan until the dispute is removed.

 

10.   Don’t Lose Contact With Your Mortgage And Real Estate Professionals. If you have a question or not if you should take a specific action that you believe may affect your credit reports or scores during the loan process, your mortgage or real estate professional may be able to supply you with the resources you need to avoid making mistakes that could drop your credit score or affect your loan.

 

Any questions about credit or Louisville Real Estate please contact us at The Brad Long Real Estate Group.

...