Please note that the scores below are required by American Midwest Mortgage Corporation and are not necessarily the scores required by the program or other lenders.
It is important to understand that meeting the minimum required credit scores will not always mean that you are approved for a mortgage from a credit standpoint. There are many different credit issues that could prevent a borrower from gaining an approval. Some examples include; unpaid judgements, past due credit obligations, bankruptcies within a certain time frame, derogatory credit after a bankruptcy, or collections that exceed a lenders maximum.
I have a great deal of information that can can help you raise your credit score. A great portion of my work week is spent educating my customers on how to improve their credit score as well as overall credit profile. Sometimes it is necessary to employ the help of an outside professional to leverage fair credit lending laws to eliminate your bad credit items.
My most helpful suggestion in regards to raising your credit score is to allow me to look over your report, before trying to do anything on your own. As mentioned in other areas of this webpage, there is nothing more frustrating than finding out that a customer has attempted to do (what they think is) the right thing to improve their credit, only to see the score worsen.
All loans are underwritten as full documentation loans. This means that in order to get an approval for a mortgage you must have verified income, usually verified assets, and satisfactory employment history. The days of simply needing a good credit score to be approved for a mortgage are well in our past.
If you have questions about credit scores, would like advice as to how to raise your score, or have any other questions, please contact me.
