Our Hoover mortgage loan credit repair can help you achieve the qualification needed for a mortgage application. Credit Repair Today is proud to help customers become homeowners.
Setbacks like bankruptcy, missing payments, and foreclosure can cause your credit score to spiral down. With these kinds of marks on your files, it will take tremendous dedication and patience on your part to fix them and get back on track. Your other option is hiring our Hoover repair credit agency, Credit Repair Today.
What is the right credit score that can get you a mortgage loan or allow you to refinance?
Before getting approved for a mortgage or refinancing, creditors will first look at your credit history. First, they will ensure that you are not delinquent in payments and you are financially responsible.
So, when do credit scores become vital, you might ask. Your credit score will help lenders determine what options are available or not available for you. For this reason, it is better to let our mortgage loan credit repair in Hoover AL do the job of getting your score where it needs to be.
In general, Credit Repair Today and our Hoover mortgage loan credit repair will assist you in achieving your goal of credit strong again. If you are wondering about what mortgage loans and their corresponding minimum credit scores are, here they are as of 2020:
- FHA Loan
This type of lone requires at least a 580 credit score.
- FHA 203K Loan
This type of loan requires 620 and higher credit score.
- Conventional Loan
For this loan, you will need at least 620 to 640 and higher credit score.
- USDA loan
This probably has the highest credit score requirement, which is set to at least 640 and higher.
- VA Loan
Like the other two types in this list, while the VA does not require a minimum the lending institutions requires your credit score to be at least 580 -620.
Lenders take a heavy look at the credit scores of the applicants. Remember that the better credit score you have, the better loan terms you will get which include better interest and/or penalty rates. So, if you have some catching up to do, call our Hoover repair credit team at Credit Repair Today immediately.
Do you have a question regarding Hoover mortgage loan credit repair? The combined knowledge of our specialists will point you in the right direction. We will help you take your credit score where it needs to be so you can qualify for you home loan.