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Credit Repair

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Obtaining a home loan primarily depends on one thing - Your Credit Score. Your credit score depends on how you have conducted your financial dealings over time.

As you can see, the way you pay your bills (payment history) and the amount you owe affect your credit score much more than credit history, how much available credit you have used, and the number of inquiries made on your credit report.

  • 35% Payment History (how well you pay your bills)

  • 30% Amount Owed     

  • 15% Credit History (how you have used credit)     

  • 10% Credit Used (credit available vs credit used)        

  • 10% Credit Inquiries  

If you have a high credit score, you generally have no problem obtaining a home loan at the lowest rates. On the other hand, having a low credit score may still allow you to purchase a home, but often this will involve finding a special loan program, and often these are only available at a higher rate.

This is why having a knowledgeable lender is so very important. Community Mortgage has access to many loan programs that are designed to help buyers with credit score issues. In many cases, we have been able to correct or repair credit scores. Sometimes only time and coming up with a credit repair plan can help.

This is our business and we're good at it. Our loan officers can help you with all your questions regarding your credit and obtaining a home loan.

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