Credit Restoration

A lot of people are waiting until the day their slate is clean before they dive into the home ownership waters. A little debt doesn’t necessarily mean you’re not ready. 

Lenders generally will loan mortgages to those with less than 36 percent of their gross income in debt. 

 If your credit cards, auto and student loans, outstanding bills, and projected home insurance is less than roughly 1/3 of your income, you could be entitled to a mortgage, granted that you are paying back your debts on time in full and your credit score meets the required standards.

Remember that, even if your debts are under the above amount, if your credit score is less than 640-670, you could still have a hard time getting pre-approved for a loan. If you’re having a hard time paying down your debt, even if it’s due to a high rent payment, you’re perceived as being in a situation where a mortgage could also be difficult to pay.Take a look at your situation thoroughly before you apply to be pre-approved for a mortgage.

DO YOU OWE $10,000+ IN PERSONAL OR TAX OBLIGATION DEBT? IF YOU DO OWE YOU NEED TO CALL RIGHT AWAY! YOU HAVE NOTHING TO LOSE BUT EVERY THING TO GAIN! CALL FOR A FREE CREDIT HELP CONSULTATION (855) 757-2312