What Credit Score do You Need to qualify for a FHA VA KHC Kentucky Mortgage?
What Credit Score do You Need to Buy a Kentucky Home?
When it comes to mortgages and credit scores, there are two really important questions to ask:
–What credit score do I need to qualify for a mortgage?
–What credit score do I need to get the lowest interest rate on a mortgage?
These different but related questions are important if you are looking to buy a home. And the second question is particularly important. With a high FICO score, you can literally save tens of thousands of dollars in interest over the life of a home loan. So let’s take a look at both questions. And if you don’t know you score, be sure to get you free credit score.
What credit score do you need to qualify for a mortgage?
The first thing to keep in mind is that qualifying for a mortgage involves a lot more than just a credit score. While your FICO score is a very important ingredient, it is just one factor. Lenders also look at your income and level of debt, among other things.
As a rule of thumb, however, a credit score below 640 will make buying a home very difficult. A FICO score below 640 is considered sub-prime. In the past there were mortgage companies that specialized in sub-prime mortgages. Because of the challenges in the credit market over the last year or so, however, sub-prime loans have become difficult if not impossible to obtain.
A FICO score between 600 and 640 is considered fair to good credit. But keep in mind, this range of credit scores does not guarantee you will qualify for a mortgage, and if you do qualify, it won’t get you the lowest interest rate possible. Still, to buy a home aim for a score of at least 640, recognizing that other factors weigh in the decision and that some banks may require a higher score.
What credit score do you need to get a low rate mortgage?
It use to be that a score of about 720 would yield the lowest mortgage rates available. Today, the best rates kick in with a FICO score of 760. And interest rates go up significantly as your credit score drops. To give you an idea, the following table shows current rates by credit score and calculates a monthly principal and interest payment based on a $300,000 loan:
Senior Loan Officer
text or call my phone: (502) 905-3708
email me at kentuckyloan@gmail.com
The view and opinions stated on this website belong solely to the authors, and are intended for informational purposes only. The posted information does not guarantee approval, nor does it comprise full underwriting guidelines. This does not represent being part of a government agency. The views expressed on this post are mine and do not necessarily reflect the view of my employer. Not all products or services mentioned on this site may fit all people. NMLS ID# 57916, (www.nmlsconsumeraccess.org). USDA Mortgage loans only offered in Kentucky.
All loans and lines are subject to credit approval, verification, and collateral evaluation and are originated by lender. Products and interest rates are subject to change without notice.
Kentucky First-Time Home Buyer Programs | USDA, FHA, VA & KHC Loans 
Hi. Cool post. There’s an issue with your website in firefox, and you may want to check this… The browser is the marketplace leader and a huge component of other people will miss your great writing because of this problem. I bookmarked your site: https://kentuckyfirsttimehomebuyer.com/credit-scores-you-need-to-qualify-for-a-mortgage/ and will check back often. Thanks for the good post!
LikeLike
An attention-grabbing dialogue is value comment. I feel that it is best to write more on this matter, it might not be a taboo topic however typically persons are not enough to talk on such topics. To the next. Cheers
LikeLike
Transunion logo is a registered trademark of Transunion Inc;Experian logo is a registered trademark of Experian Corporation, Equifax logo is a registered trademark of Equifax Fair Isaacs Corporation. No association is implied. The credit score provided by this system is an approximate score based upon your answers to your credit history questions and using similar algorithms as major credit bureaus in the United States to gauge your unique score.
LikeLike
This is very useful indeed. I am stunned this information isn’t more broadly available, however thanks for your focus on it! This is likely the most complete source I’ve found thus far, and it really is quite useful. Cheers
LikeLike
Thanks for making something value reading.
LikeLike
Hey this is kind of of off topic but I was wanting to know if blogs use WYSIWYG editors or if you have to
manually code with HTML. I’m starting a blog soon but have no coding expertise so I wanted to get advice from someone with experience. Any help would be enormously appreciated!
LikeLike
Hi there very cool web site!! Guy .. Excellent .. Wonderful
.. I’ll bookmark your website and take the feeds also? I’m
happy to find numerous helpful info here in the publish,
we’d like develop more techniques on this regard, thanks for sharing. . . . . .
LikeLike
Yay google is my king helped me to find this great web site ! . “Nothing can bring you peace but yourself.” by Ralph Waldo Emerson.
LikeLike
What’s Taking place i’m new to this, I stumbled upon this I have found It absolutely useful and
it has helped me out loads. I am hoping to give a contribution & help different customers like its helped me.
Great job.
LikeLike
It’s really a nice and helpful piece of info. I’m happy that you simply shared this helpful info with us.
Please stay us up to date like this. Thanks for sharing.
LikeLike
Alright, I read your posts now and then. I own a similar site and i was just wondering if you get a lot
of spam feedback? If so how do you prevent them, is there a plugin or something you can advise?
I get so much lately it’s making me crazy so any support is very much appreciated.
LikeLike
Hi there, everything is going well here and ofcourse every one is sharing facts, that’s in fact excellent, keep up writing.
LikeLike
Wow that was strange. I just wrote an incredibly long comment
but after I clicked submit my comment didn’t appear. Grrrr… well I’m not
writing all that over again. Anyhow, just wanted to say great blog!
LikeLike
Do you have a spam problem on this website; I also am a blogger, and I was curious about your situation; we have created some nice practices and
we are looking to swap solutions with others, why not shoot me an
e-mail if interested.
LikeLike
Fabulous, what a weblog it is! This webpage provides helpful data to us,
keep it up.
LikeLike
I have read so many posts on the topic of the blogger lovers but this
article is actually a good article, keep it up.
LikeLike
Current credit score required is 640 for most VA, KHC, USDA Rural Development Mortgage, Fannie Mae and Freddie Mac loans in Louisville KY
LikeLike
Hey! I know this is kinda off topic however , I’d figured I’d
ask. Would you be interested in trading links
or maybe guest authoring a blog article or vice-versa? My website
addresses a lot of the same subjects as yours and I believe we
could greatly benefit from each other. If you might be interested feel free to send me an email.
I look forward to hearing from you! Fantastic blog by the way!
LikeLike
I’m gone to tell my little brother, that he should also pay a visit this blog on regular basis to get updated from latest news update.
LikeLike
This is my first time visit at here and i am actually impressed to read all at alone place.
LikeLike
Hello, Neat post. There is a problem with the graphics on your web site
in internet explorer, might be an idea to test this?
IE still is the market chief and a large part of people will miss your great writing due to this problem.
LikeLike
My partner and I absolutely love your blog and find the majority of
your post’s to be just what I’m looking for. Do you offer guest writers to
write content for you? I wouldn’t mind creating a post or elaborating on many of the subjects you write about here. Again, awesome site!
LikeLike
I just like the valuable information you provide to your articles.
I’ll bookmark your weblog and check again here frequently. I’m fairly certain I’ll learn many new stuff right right here! Best of luck for the next!
LikeLike
Hey, Amazing article. Thanks, However I am experiencing problems
with subscribing to your RSS feed. I don’t understand why I can’t
join it. Is anybody else getting identical RSS problems? Anyone that knows
the solution can you PM me? Cheers!
LikeLike
Right here is the right blog for everyone who hopes to find out about this topic.
You realize a whole lot its almost hard to argue with you (not that I
really would want to…HaHa). You definitely put a brand
new spin on a topic which has been written about for decades.
Wonderful stuff, just wonderful!
LikeLike
That is really attention-grabbing, You are a very
professional blogger. I have joined your rss feed and sit up for looking for more of your great post.
Additionally, I have shared your site in my social networks
LikeLike
Howdy very nice web site!! Had a nice few minutes looking around.
I’m glad to seek out numerous useful info right here in the article, we want work out extra techniques in this regard, thanks for sharing. . . . . .
LikeLike
I need to to thank you for this very good read!
! I definitely enjoyed every little bit of it. I have you book-marked to check out new stuff you post…
LikeLike
Hi terrific blog! Does running a blog similar to this require a massive amount work?
I’ve absolutely no knowledge of programming however I was hoping to start my own blog in the near future. Anyways, if you have any suggestions or techniques for new blog owners please share. I know this is off topic however I just needed to ask. Thank you!
LikeLike
Interesting answers regarding this subject. Solid arguments outlining the causes for it.
LikeLike
I’m really loving the theme/design of your website. Do you ever run into any web browser compatibility problems? A number of my blog visitors have complained about my site not operating correctly in Explorer but looks great in Firefox. Do you have any ideas to help fix this problem?
LikeLike
My developer is trying to persuade me to move to .net from PHP.
I have always disliked the idea because of the costs.
But he’s tryiong none the less. I’ve been using Movable-type on
several websites for about a year and am concerned
about switching to another platform. I have heard very good
things about blogengine.net. Is there a way I can import all my wordpress content into it?
Any kind of help would be really appreciated!
LikeLike
This is very interesting, You’re a capable author. I’ve joined your feed and look forward
to seeking more of your wonderful post. Also, I have shared your web site in my social networks!
LikeLike
I am in fact delighted to read this web-site posts which carries plenty of helpful
facts, thanks for providing these data.
LikeLike
My coder is trying to persuade me to move to .net from PHP.
I have always disliked the idea because of the costs.
But he’s tryiong none the less. I’ve been using WordPress
on a number of websites for about a year and am concerned about switching to another platform.
I have heard excellent things about blogengine.net. Is there a way I can import all my wordpress
posts into it? Any help would be greatly appreciated!
LikeLike
Thanks for your marvelous posting! I truly enjoyed reading it, you may be a
great author.I will be sure to bookmark your blog and will come back
later on. I want to encourage you to ultimately continue your great work, have a
nice holiday weekend!
LikeLike
I read this post fully on the topic of the resemblance
of latest and preceding technologies, it’s remarkable article.
LikeLike
Superb blog! Do you have any tips for aspiring
writers? I’m hoping to start my own website soon but I’m
a little lost on everything. Would you recommend starting with a free
platform like WordPress or go for a paid option? There are so many
options out there that I’m completely overwhelmed .. Any ideas? Appreciate it!
LikeLike
I do not even understand how I stopped up here, but I thought this article used to
be great. I don’t understand who you might be but definitely you are going to a famous blogger when you aren’t already.
Cheers!
LikeLike
This post will assist the visitors with building up new web site or even a web-site from
start to end.
LikeLike
Yesterday, while I was at work, my sister stole my iphone and tested to
see if it can survive a twenty five foot drop, just so she can be a youtube sensation.
My Samsung is now destroyed and she has 83 views. I know this is entirely off topic but I had to share it with someone!
LikeLike
Hello, Neat post. There is a problem along
with your site in internet explorer, could check
this? IE still is the marketplace chief and a large section of other peeps will pass
over your excellent writing because of this
problem.
LikeLike
Touche. Sound arguments. Keep up the amazing work.
LikeLike
Thank you for another informative web site. The place else may just I am getting that kind of information
written in such an ideal way? I’ve a venture that I am just now operating on, and I’ve been at the glance
out for such information.
LikeLike
I do not even know the way I finished up here, however I assumed this publication was
once good. I don’t recognize who you are however definitely you’re going to a well-known blogger in the event you aren’t already. Cheers!
LikeLike
With havin so much content and articles do you ever run into
any issues of plagorism or copyright infringement?
My website has a lot of unique content I’ve either authored myself or outsourced but it appears a lot of it is popping it up all over the web without my permission. Do you know any solutions to help stop content from being stolen? I’d really appreciate it.
LikeLike
Hi, this weekend is crucial for me, since this occasion i am reading this impressive informative article here at my home.
LikeLike
No credit check personal loan also saves a bunch
of time and paper work implicated in securing guarantee and lender going through various verifications, which typically takes up weeks
before the loan is granted. Paper documentation is not at all entertained by the lenders.
Personal Loan can be secured or unsecured.
LikeLike
Wow, awesome blog layout! How long have you ever been running a blog for?
you made running a blog look easy. The whole
look of your site is excellent, let alone the content material!
LikeLike
Undeniably consider that that you stated.
Your favourite reason appeared to be on the web the simplest factor to
be aware of. I say to you, I certainly get irked whilst peeps consider worries that they plainly do not recognise
about. You controlled to hit the nail upon the highest and also defined out the entire thing without having side-effects
, other peeps can take a signal. Will probably be again to get more.
Thanks
LikeLike
My spouse and I stumbled over here by a different page and thought I should check things out.
I like what I see so i am just following you. Look forward to looking at your web page again.
LikeLike
It is in point of fact a nice and useful piece of information.
I’m glad that you just shared this useful information with us. Please stay us up to date like this. Thank you for sharing.
LikeLike
I was recommended this website by means of my cousin.
I am not certain whether or not this article is written through him
as no one else realize such detailed approximately my trouble.
You’re incredible! Thank you!
LikeLike
If someone needs to be updated with hottest technologies after that he must be pay a quick
visit this web site and be up to date daily.
LikeLike
Hey! I know this is kinda off topic but I was wondering which blog platform are you using for this
website? I’m getting sick and tired of WordPress because I’ve had problems with hackers and I’m looking at options for another platform. I would be great if you could point me in the direction of a good platform.
LikeLike
Wonderful website. A lot of helpful information here.
I’m sending it to some mates ans also sharing in delicious. And certainly, thanks on your effort!
LikeLike
Hi! I could have sworn I’ve visited this blog before but after going through some of the articles I realized it’s
new to me. Regardless, I’m definitely delighted I discovered it and I’ll be book-marking it and checking back frequently!
LikeLike
t figure our way out of our consumerist addictions we will eventually have
to go cold turkey. It is predicted that “global warming” will increase water shortages in the near future.
t walk into the grocery store without being asked if I.
LikeLike
I’ve only read a few posts but I’m already hooked. Need to spend
a long evening going through the discussions on here.
LikeLike
If you would like to get much from this post then you have to apply such strategies to your won website.
LikeLike
You’ll encounter a change in your lifestyle after undergoing this bariatric surgery. Once approved by the FDA, an insured teen will pay only $2,000 to $4,000 for the surgery. All studies show the positive effects of bariatric surgery and could help type 2 diabetes and obese patients receive free insurance coverage for weight loss surgery.
LikeLike
Wonderful post! We are linking to this particularly great content on our site.
Keep up the good work.
LikeLike
Wow that was unusual. I just wrote an really long comment but after I clicked submit
my comment didn’t show up. Grrrr… well I’m not writing all that over again.
Anyway, just wanted to say excellent blog!
LikeLike
I’m not sure exactly why but this site is loading incredibly slow for me. Is anyone else having this issue or is it a issue on my end? I’ll check back
later on and see if the problem still exists.
LikeLike
Informative read, especially comment #four I think it was. Hopefully I’ll remember it.
LikeLike
Wonderful beat ! I would like to apprentice even as you amend your site, how can i subscribe
for a blog web site? The account helped me a appropriate
deal. I had been a little bit acquainted of this your broadcast provided bright clear
idea
LikeLike
hey there and thank you for your info – I have definitely picked up something new from right here. I did however expertise several technical points using this web site, as I experienced to reload the web site a lot of times previous to I could get it to load correctly. I had been wondering if your web host is OK? Not that I am complaining, but sluggish loading instances times will sometimes affect your placement in google and could damage your high-quality score if ads and marketing with Adwords. Anyway I’m adding this RSS to my e-mail and could look out for a lot more of your respective intriguing content. Make sure you update this again very soon.
LikeLike
Seems like summer is finally here. Give it a few weeks
and we’ll be moaning about how roasting it is.
LikeLike
I personally didn’t spend much time doing this, but it’s evidently
worth learning.
LikeLike
Until someone told me about it I hadn’t even considered it possible. Seems as though I’m behind on the matter.
.
LikeLike
Credit Scores Needed to qualify for a Ky Mortgage | Louisville Ky Mortgage Rates commented on Credit Scores Needed to qualify for a Ky Mortgage
LikeLike
Kentucky First Time Home Buyer Mortgage Loan
LikeLike
More information about Credit Scores Needed to qualify for a Ky Mortgage | Kentucky USDA RHS Rural Housing Mortgage Loans
LikeLike
credit requirements for buying a house in ky
LikeLike
Here are six tips for improving your credit score for a fresh financial start in 2016.
1. Pay Your Monthly Bills on Time
Paying monthly bills is a necessary chore that has a definite effect on your credit score. According to the FICO scoring model, your payments account for as much as 35 percent of your total score. Create reminders for due dates or establish a calendar for yourself to ensure you get everything paid on time.
2. Reduce Your Debts
Got credit card debt? Start paying it off now. Part of your credit score is based on the amount of available credit you have, known as your credit utilization ratio. So if you’re carrying high balances, you’ll want to lower them as soon as possible. Create a personal budget with a goal of reducing your spending so that it’s lower than your income. Then, use any monthly surplus for your credit card debts until they’re gone for good.
3. Limit Credit Inquiries
Looking for a new apartment? What about a mortgage? In either situation, try and group your applications together as much as possible. Applications for new lines of credit will generate a “hard pull” on your credit, and having too many of them in a short period of time can lower your score. However, credit reporting agencies usually consider a group of applications within a short period of time as one pull, as long as they’re in the same category.
Similarly, limit yourself to opening up no more than one or two credit cards per year, which also generate hard pulls. Even if you get a ton of offers in the mail for stellar sign-up bonuses, they’re likely to be offset by the damage to your credit. FICO reports that new credit and credit inquiries account for 10 percent of your total score.
4. Don’t Cancel Old Cards
Have a card you don’t use anymore? Don’t close it. This can negatively affect your score as it lowers your amount of available credit. Instead, use it about once per month and don’t forget to pay the bills in full, and on time.
5. Request Credit Limit Increase
If you only have one card and you’re constantly approaching your spending limit, call the bank and ask for an increase in your credit line. This will raise the amount of available credit, which will eventually improve your score.
6. Take Care of Late Payments Before They Hit Your Score
If you do happen to miss a payment, contact the card issuer immediately. If you have good history built up, the company may agree to not report your late payment. Even if you can’t avoid a late-payment fee, be sure to get your account up to date as soon as possible so you can limit the damage.
Your credit score is yours to own. It reflects your financial history and helps lenders predict how you will manage your finances in the future. Due to the lingering effects of credit, you don’t want to waste any time to improve your credit.
LikeLike
Credit: Most lenders want a 640 credit score, however there are some lenders now doing FHA loans down to a 580 score with no bankruptcies in the last 2 years and no foreclosures in the last 3 years.
If you have a 580-639 credit score there is a possibility of doing a FHA loan with a 3.5% down payment.
Down Payment: There are still housing programs that exist for Kentucky home buyers whereas you can purchase a home with no down payment. You will need a 640 mid credit score to purchase a home using the USDA or KHC loan programs for their no down payment credit requirements.
If you have access to at least 3.5% down payment or more, we can always look at doing a Fannie Mae or FHA loan and possibly securing a little better rate on the terms of your loan. I will go over your options once we get you pre-approved to let you decide which is best for your situation.
Income: The maximum house payment is usually limited to 1/3 of your gross monthly income. For example, if you make $3000 gross a month, then x that by 30%, and this would equal about a $900 maximum house payment.
LikeLike
This is the best advice ever, I only wish I had found this gem of knowledge years ago! My wife had an illness that almost claimed her life, we had to draw out thousands for her treatment from our HELOC accounts. Credit scores dropped to mid 500’s, had about 34k balances in AMEX CC, a 27k boat loan and other cards with high balances. We also lost one of our properties (collateral) in NJ to the bank during this period. When I asked my sister for financial assistance, she told me about her US based Chinese hacker she met at business seminar. She talked to the guy on my behalf and passed on his contact info for us to discuss directly. After filling out some basic info with him, he did his magical thing, using his method my CS was fixed back to the high 800s by him, and all debt on Heloc really got paid off in 2 weeks and we bought our house back. He helped us clear the high balances in all our CC and a lot of magical things i can’t just explain he did on my credit report when the bank looked up my credit history to approve our new Heloc account. The worst part is that the banks don’t want us doing this because there is little profit for them. They want us “mortgaged” and indebted for life. My definition of life is all about helping others, so for anyone interested leave him a message on his address below and tell him i referred you. Good luck to those that take the leap and move into financial freedom!
PYRAMIDEYE.HACK at ( O U T L O O K dot C O M )
LikeLike
So, you just paid off the credit card, now what?
by Donna Jefferson
If you pay off a credit card and want to close the account, will it help your credit?
So, you just paid off the credit card that you have had for a long while, do you close it or keep it open? First let me say, Congrats, way to go towards becoming debt free! Nice job! Congratulations via KatieAshley wikispaces
Now what? If your goal is to keep your credit scores on the rise and isn’t this most everyone’s goal? Especially if you have a large purchase such as a new home or car in your future think twice before you close the account and here is why:
The age of your accounts is one of the factors that is used in many credit scoring models with the three credit bureaus. Length of credit history is 15% percent of your credit score however payment history is 35% of your credit score. Credit score model en wikipedia org
When an account that has been for open a lengthy amount of time and in good standing but is now closed you will lose that ability to show you responsibility in paying the account on time for a long time as well as your payment history on the account. This account will no longer be used in scoring your credit score and you may see a drop in your credit score for this reason. If you pay off the card and simply leave the account open, you will continue to receive the positive points on that particular credit card. An “aged” account is very beneficial in helping you increase AND maintaining your higher credit score.
Again, congrats on one step closer to being debt free as you pay off your credit cards. Do whatever it takes to not charge it up again. Remembering that credit utilization is 30% of your credit score. Keep your balances low (below 30% of your limit is best) and pay all accounts that appear on your credit report on time or early!
Comments »
A Paid Collection is still a Collection.
August 10, 2016
Credit increase credit debt team jeffeson
Did you know….
Just because you pay off a collection it does not erase the derogatory marks on your credit report.
A collection is an account that has been severely past due and the creditor gave up on receiving payment and turned the debt over to a Collection Agency to try to collect the money owed usually adding additional fees to the balance.
Many people believe once a collection is paid that it will be removed from your credit report. Some collection agencies will even go as far as tell you that they will remove the collection from your credit but usually, (unfortunately) this is a ploy to get your payment.
Read more here.
By Donna Jefferson
Credit and Mortgage Loan Specialist
Share this:
Press This
inShare
PrintMore
Tags:Buying a home, Collections, Credit bureau, Credit history, Credit score, Debt, Statute of Limitation
Posted in buying a home, Credit, Credit 101, understand your credit to prepare for buying a home, Credit card debt, Increase Credit Scores | 2 Comments »
Credit and Your Payment History
August 8, 2016
How to Build Your Credit Scores
Credit increase credit debt team jeffeson
Did you know..
The only way to build your good credit is by utilizing credit accounts to establish a payment history and show responsibility by maintaining very low or zero balances. A payment history, however, will take time to build your scores since it is based on the history of your payments being made on time. Simple as that! Your credit payment history makes up 35% of a Fico Score. So if you’re trying to make a comeback from derogatory credit or build new credit remember to be responsible with your payments and set reminders or auto payments to ensure you are not late with even one account that reports to the credit bureaus.
Build Your Credit
Learn ways to be responsible with your credit and your finances.
Paying by cash is a good practice to help save money because generally it is harder to hand over cash however, paying cash for everything or paying with a debit card does not impact your credit score as all since it does not establish a payment history.
In most all of our lives we will need to purchase something on credit. It is best to work hard to maintain the best credit rating possible so you will be prepared and will receive better interest rates due to your excellent credit rating which will also save you money in the long run.
LikeLike
Late last year,around December me and my husband decide to move our family to south Florida to secure a Condominiums apartment.It was pretty clear from the onset of our search for a rental that we’d likely be dealing with an HOA as almost every place we found had one.we finally found a very comfortable and conducive place for us and our little kids.They approved us and presented us with the HOA applications which should be sent back ASAP to begin the process,but then we have credit cards fraud some months ago,also our credit scores are 503 and 555,credit reports reads few collections.we stopped using CC for several months now because of the debts.we had an encounter with a our loan officer who introduced us to his secret hacker,if only we can pay for his services,we needed this ASAP because we love the condo.we both agreed to hire him because our LO gave us his word of sincerity,the hacker with the email(FREEDOM_HACKING (@) Hotmail. COM)cleared our CC debts and collections in the first 3 days and Raised our scores to 805 which was also worked on for another 3 days.He is extremely knowledgeable about credit problems and hacking in general.we are so grateful to you for putting smile on our faces,he can render help if you contact him.
LikeLike
Your credit score, the three-digit number that follows you around life & requires your supreme care!! 📊
These steps can help you avoid common mistakes that could damage your score:
KNOW YOUR SCORE 7️⃣️5️⃣️2️⃣️
GET CURRENT & STAY CURRENT ON YOUR PAYMENTS 📆
PAY DOWN CREDIT CARDS ⬇️Don’t spend over 30% of your available credit
UNDERSTAND THE IMPLICATIONS OF CANCELLING CREDIT CARDS 🚫🚫It isn’t always smart to payoff an cancel.
STRIKE A BALANCE BETWEEN PAPER & PLASTIC 💵💳
DO NOT APPLY FOR CREDIT YOU DO NOT NEED 🛍️👗🏝️
If you’ve had previous credit problems, message me! We can help guide you in the right direction to improve it! Continue making your payments ON TIME- this is #1!
Image may contain: text
—
Joel Lobb
Mortgage Loan Officer
Individual NMLS ID #57916
American Mortgage Solutions, Inc.
10602 Timberwood Circle
Louisville, KY 40223
Company NMLS ID #1364
Text/call: 502-905-3708
fax: 502-327-9119
email: kentuckyloan@gmail.com
http://www.mylouisvillekentuckymortgage.com/
LikeLike
I have been ripped off by three hackers who claim to be legit but zoomed with my fund.i sold my car to pay one of the scammers.i don’t have much on my credit but a student loan,a bunch of closed accounts,most of them i’m only an authorized user.i only have student loan of $21,000,also i am on the chex system and cant open a bank account.Several attempts to clear my score with the help i got online and so called hackers were Void.My last trial was on the 02-19-2018,my sister-in-law came visiting and during our conversation she got to know that i have been scammed,she was down with tears,scolded me blah blah.she phoned her computer expert boyfriend who has assisted few people on different occasions,this guy dislikes cheating.He told me to keep this to myself but i cant because i know so many out here in need of sincerity. He made a Top up to my FICO scores all over the 3(Experian. Equifax and TransUnion,) bureau,cleared me off Chex system,student loan was not left out.I watched this for a month before embarking on getting a loan and that just got through last week.for many of us out here who already lost hope getting a hacker to fix anything for you,you can send a mail to ZOMBIE.BINARYLORD(@)HOTMAIL.COM for assistance,guidiance.
LikeLike
We need to raise your scores up to get you financed. I would recommend the following actions to get your scores up.
Here are some important tips to increase your credit score:
Pay your bills on time. Late payments can hurt your score significantly. If you have missed payments, get current and stay current. The more you pay your bills on time, the better your score.
Open a secured credit card ( 2 of them) for the both of you.
Keep credit card balances low relative to credit limits (30 percent or lower is recommended). “Maxing out” your credit cards means you have a very high utilization rate, which significantly lowers your credit score.
Here are NerdWallet’s picks for the best secured credit cards.
Lowest deposit for people with no credit: Capital One® Secured MasterCard®
For a deposit of $49, $99 or $200, depending on your credit history, you’ll get a limit of $200;
the annual fee is $0.
Capital One Secured MasterCard Credit Card
(86)
Apply Now
on Capital One’s
secure website
Benefits of the Capital One® Secured MasterCard®:
Unlike most secured cards, it’s possible to get a credit limit on this card that’s higher than the security deposit you put down. You can get a limit of $200 for a $49, $99 or $200 deposit.
You can make partial payments on your deposit, as long as you provide the full amount within 80 days of being approved. You’ll get access to your full credit line before that time.
There’s no penalty APR.
This card reports to the three major consumer credit bureaus, which is somewhat rare among secured cards.
You can track your credit-building with Capital One’s Credit Tracker.
Best for bad credit or no checking account: OpenSky® Secured Visa® Credit Card
Capital Bank Open Sky Secured Credit Card
(3)
Apply Now
on Capital Bank’s
secure website
Benefits of the OpenSky® Secured Visa® Credit Card:
You can qualify for this card within minutes. The bank doesn’t run a credit check and doesn’t require a checking account, unlike other major issuers.
Since the annual fee is $35, this card is a relatively affordable way to improve a severely damaged credit score.
The card reports to the three major consumer credit bureaus.
Here are six tips for improving your credit score for a fresh financial start in 2017.
1. Pay Your Monthly Bills on Time
Paying monthly bills is a necessary chore that has a definite effect on your credit score. According to the FICO scoring model, your payments account for as much as 35 percent of your total score. Create reminders for due dates or establish a calendar for yourself to ensure you get everything paid on time.
2. Reduce Your Debts
Got credit card debt? Start paying it off now. Part of your credit score is based on the amount of available credit you have, known as your credit utilization ratio. So if you’re carrying high balances, you’ll want to lower them as soon as possible. Create a personal budget with a goal of reducing your spending so that it’s lower than your income. Then, use any monthly surplus for your credit card debts until they’re gone for good.
3. Limit Credit Inquiries
Looking for a new apartment? What about a mortgage? In either situation, try and group your applications together as much as possible. Applications for new lines of credit will generate a “hard pull” on your credit, and having too many of them in a short period of time can lower your score. However, credit reporting agencies usually consider a group of applications within a short period of time as one pull, as long as they’re in the same category.
Similarly, limit yourself to opening up no more than one or two credit cards per year, which also generate hard pulls. Even if you get a ton of offers in the mail for stellar sign-up bonuses, they’re likely to be offset by the damage to your credit. FICO reports that new credit and credit inquiries account for 10 percent of your total score.
4. Don’t Cancel Old Cards
Have a card you don’t use anymore? Don’t close it. This can negatively affect your score as it lowers your amount of available credit. Instead, use it about once per month and don’t forget to pay the bills in full, and on time.
5. Request Credit Limit Increase
If you only have one card and you’re constantly approaching your spending limit, call the bank and ask for an increase in your credit line. This will raise the amount of available credit, which will eventually improve your score.
6. Take Care of Late Payments Before They Hit Your Score
If you do happen to miss a payment, contact the card issuer immediately. If you have good history built up, the company may agree to not report your late payment. Even if you can’t avoid a late-payment fee, be sure to get your account up to date as soon as possible so you can limit the damage.
Your credit score is yours to own. It reflects your financial history and helps lenders predict how you will manage your finances in the future. Due to the lingering effects of credit, you don’t want to waste any time to improve your credit.
LikeLike
Hi guys, I have something to share here and i want you to make use of this opportunity I actually thought it was a lie when my colleague told me about them. I had a total of $36,000 in student loan debt that I couldn’t pay for 3 years until my friend introduced me to ZEUSHACKERS01atOUTLOOKdotCOM , I was in shock when they helped me clear the debts within few days. I’m so happy right now and I advice you guys to also get to them for help in increasing credit score, catch cheating partner
LikeLike
Navigating the credit score landscape is sometimes treacherous for consumers, with so much confusing and seemingly contradicting information about scoring models, multiple credit bureaus, reporting guidelines, and plenty of websites offering “free” credit scores.
In fact, when someone clicks on one of those offers to view their credit score, they will quickly find out that the free offer:
1) Isn’t free, and
2) Also may not be accurate or even particularly useful.
If #2 comes as a shock, let me explain.
Most people understand by now that there are three major credit bureaus, Experian, Equifax, and TransUnion, offering their own credit reports. And they may even understand that FICO releases a score based on those findings.
But most consumers don’t realize that there is more than one version of FICO scores (in fact, there are more than two dozen FICO scores!).
FICO also isn’t the only game in town, since Vantage calculates their own version of consumers scores. Your Vantage score is also the score you’ll probably get if you request a free credit score from one of those sites.
The problem is that it’s most likely not even relevant or useful.
Why?
90% of lenders don’t use Vantage Scores to make their lending decisions, but one of FICO’s many versions.
So it’s sort of like studying multiple choice answers from last year’s test and then expecting to pass this year’s version.
However, 85% of consumers who get scores from Credit Karma or one of those “free” credit sites think they’re getting the score that’s used by lenders. Moreover, 65% think they’re actually receiving their FICO score – not Vantage.
While I know at least two parties (like Vantage and those money-making free credit websites!) that argue Vantage Scores are great for educational purposes and probably mirror the general trend of your FICO scores, the two scoring models aren’t even calculated the same.
In fact, Vantage scores range from 501 to 990, while FICO scores range from 300 to 850.
Even within FICO’s different internal scoring models, there’s a great variance in scoring for the same person.
Reportedly, 45% of the population has an “economically meaningful” difference between their highest and lowest FICO Score. We’re not talking about just a few points here, either. FICO’s research shows that the average difference between a single consumer’s high and low FICO score, depending on which model of scoring is being used, varies 62 points. And 10% of consumers have a score variance of 100 points or more!
Why is this revelation that Credit Karma and other free-ish credit websites use Vantage, not FICO, so important?
If you’re just taking a quick look at your credit for fun and like wasting money, then it’s probably not a problem.
But for most people, they look at their credit score with the intent to taking action based on what they see. That can be paying off debt or applying for new credit cards, business loans, auto loans, or even home mortgages.
Thanks to purposeful confusion on Credit Karma and other sites, tens of millions of consumers are making critically important financial decisions based on their Vantage Scores – NOT the FICOs that lenders are using to qualify them.
Who knows how many people could qualify for a mortgage based on their FICO Score but give up before they even start because their Vantage Score reflects otherwise? Consumers might apply for the wrong credit cards, hold off on that business loan, or even overvalue their position when applying for loans, all of which can cost them huge money unnecessarily.
However, if you access your FICO score, you can be confident you’re looking at the accurate credit reporting data and score that almost all lenders are using.
In fact, FICO has more than two dozen versions of their scoring for different purposes, with nine of those versions widely used by the three national reporting agencies.
Each FICO version has a specific purpose or use. For instance, if you’re getting an auto loan, lenders probably use FICO® Auto Score 8. FICO® Score 9 is usually employed for medical collections, and credit card lenders have a number of choices between FICO Bankcard Score 8 and versions 2, 4, and 5.
Mortgage lenders typically use FICO scores 2, 4, and 5, which are wrapped into a credit reporting portfolio called a residential mortgage credit report, or RMCR.
But before you get too confused, just remember this: only go to Credit Karma or spend money on one of the credit reporting sites if you want to get your Vantage Score.
However, if you are looking for the same information that lenders are actually basing their decisions on, you can view your full credit reports from all three bureaus once per year for free at http://www.annualcreditreport.com
Even better, Blue Water Credit can help you get your most recent and accurate credit report and scores, as well as improve your scores before you apply for a loan.
If you pay off a credit card and want to close the account, will it help your credit?
So, you just paid off the credit card that you have had for a long while, do you close it or keep it open? First let me say, Congrats, way to go towards becoming debt free! Nice job! Congratulations via KatieAshley wikispaces
Now what? If your goal is to keep your credit scores on the rise and isn’t this most everyone’s goal? Especially if you have a large purchase such as a new home or car in your future think twice before you close the account and here is why:
The age of your accounts is one of the factors that is used in many credit scoring models with the three credit bureaus. Length of credit history is 15% percent of your credit score however payment history is 35% of your credit score. Credit score model en wikipedia org
When an account that has been for open a lengthy amount of time and in good standing but is now closed you will lose that ability to show you responsibility in paying the account on time for a long time as well as your payment history on the account. This account will no longer be used in scoring your credit score and you may see a drop in your credit score for this reason. If you pay off the card and simply leave the account open, you will continue to receive the positive points on that particular credit card. An “aged” account is very beneficial in helping you increase AND maintaining your higher credit score.
Again, congrats on one step closer to being debt free as you pay off your credit cards. Do whatever it takes to not charge it up again. Remembering that credit utilization is 30% of your credit score. Keep your balances low (below 30% of your limit is best) and pay all accounts that appear on your credit report on time or early!
Build Your Credit
LikeLike
don’t usually buy into all this ideas but I have been looking all over the place for advice on my credit score. I have a low score of 450 which make me worried for some years,I have also work with the collection agency and they said they can’t remove it but they will mark it as a disputed item and if i want it removed i will have to go court which i don’t understand.i also contact one credit bureau and my score still remain the same.luckily for me to found a great guru through a public forum and i have no choice to pay him and am proud to review him to the world because i now upgrade to 800 plus excellent result within 24 to 48 hours.in case u need such assistant get to him on: dejatech0007 AT GMAIL DOT com tell him Andrea referred you.
LikeLike
Try our Fannie Mae and Freddie Mac No Credit Score Loan. Check out the details:
Freddie Mac LPA No Credit Score 2013-26
Owner occupied/one unit/purchase transactions only
Intended for borrower(s) with no usable credit score, if one of the multiple borrowers has a usable score the program is allowed
If both borrowers have usable scores please refer to standard FHLMC products
Must be run through loan product advisor (LPA) and receive an accept/eligible recommendation
Ratios, reserves, and assets are determined by LPA
Acceptable gifts are allowed
Up to 95% LTV (appraisal waiver may be possible on LTV’s 80% or less)
Fannie Mae DU No Credit Score 2013-25
No extra pricing hit for the manual underwrite
Up to 95% LTV purchases only
Manual underwrite (this loan is not run through DU to qualify))
Owner occupied only
Gifts are allowed, per FNMA guidelines
Non-occupant co-borrowers are acceptable
Max DTI is 36%
FHA and VA No Credit Score Programs also available!
LikeLike
Do You Need A Loan To Pay Off Your Bills Asap, If Yes Do Contact Us For More Information Via Email: jessgaysfinance@gmail.com
LikeLike
In order to get you pre-approved for your max loan amount, I will need the following items from you. This is a free process and I will give you a copy of your credit report for free!
Mortgage Pre-Approval Checklist
1. Last 30 days worth of pay stubs
2. Last 2 years W-2′s
3. Last 2 years tax returns
4. Last two months bank statements for all accounts including 401 k or retirement account if you have one
____________________________________________
LikeLike
do you need an effective credit repair within a few business days? contact roy@creditmasterfix.com
LikeLike
https://www.mylouisvillekentuckymortgage.com/2019/05/why-you-dont-need-800-credit-score.html
LikeLike