Bad credit repair
No doubt about it, having good credit keeps more money in your pocket and gives less to banks, credit card firms and
other creditors. Having good credit means enjoying the following seven personal financial benefits :
- You’ll get speedier loan approvals.
- It’s easier to purchase a new home.
- You can rent the house you want.
- You can land your dream job.
- You can get an auto loan.
- Get a credit card.
- More negotiating leverage.
We work with the credit bureaus and your creditors to challenge the unfair or inaccurate negative report items that affect your credit score. We’ll ensure your credit history is up-to-date, accurate, and reflects you honestly. This can all help to fix your credit and put you in the best possible position to qualify for the home of your dreams. Call and let us help you get back on track. Click on this link to learn more about how we can help with your credit repair.
1st time buyer programs
Buying a home is one of the biggest financial decisions you’ll make in your life — and one of the largest sources of stress for many first-time buyers is the financing process. Unless you’ve done a ton of research, getting a mortgage can feel confusing or even a bit overwhelming. The good news is you can have a smoother and less stressful experience by avoiding these 6 common mistakes:
- Not understanding the full cost of homeownership
– As a first-time home buyer, you’re probably accustomed to the monthly cost of renting, which usually includes your rent payment, some of the utilities, and your internet and cable bills. As a homeowner, you’ll be
responsible for additional monthly costs that may have been covered by your landlord.
- Assuming you won’t qualify
– Many renters think they can’t afford to buy a house because they haven’t saved enough to pay a 20 percent down payment. But you might be surprised to see what kind of house you could potentially buy based on the
amount you spend every month on rent.
- Getting pre-qualified at the last minute
– Many first-time buyers wait until they’ve found a home they want to buy before talking to a lender, but there are many benefits to getting pre-qualified early. Pre-qualification can help you shop in your price range, act fast when you find a house you want to make an offer on, and catch — and correct — any errors on your credit report before they cause a problem with your loan.
- Only talking to one lender
– Most home shoppers use a lender who was recommended by a friend, family member or real estate agent, and they don’t bother shopping around. But that doesn’t guarantee you’ll get the best rate, or even get a lender who is experienced with loans for your particular situation.
- Spending your entire budget
– When a lender provides a pre-approval or pre-qualification letter, they’ll typically include the maximum amount they will lend you. But just because a lender will let you borrow a certain amount doesn’t mean you should spend it. There are rules lenders follow to determine what you can borrow, such as the 28/36 rule, which says that a homeowner should spend no more than 28 percent of their gross monthly income on housing expenses, and no more than 36 percent on overall debt.
- Not researching down payment assistance programs
– Saving for a down payment is often cited as the biggest hurdle to homeownership for first-time buyers. But did you know there are thousands of down payment assistance programs in the U.S.? These programs typically offer “soft” second or third mortgages or grants which allow for zero percent interest rates and deferred payments. Ask your
real estate agent or lender if there are programs in your area that you may qualify for.
Click on this link to view the 11 must-do’s for 1st time buyers.
Tenant based vouchers
Tenant-based vouchers increase affordable housing choices for very low-income families. Families with a tenant-based voucher choose and lease safe, decent, and affordable privately-owned rental housing. Click on this link to learn more about the process and qualifications.
The government has many available options for free money designed to help teachers, veterans, seniors, single mothers and low income families to achieve the dream of home ownership. Grant options and qualifications often change and vary from state-to-state, so let Rental Shop help to fully explain the process and walk you through the application procedure to increase your odds of a successful outcome.