Bad credit, or no credit, or maybe you just need a slightly higher credit score to qualify for your mortgage. Whatever the case, we are here to help. Our team of specialists are here to help you improve your credit so that you can easily qualify for your mortgage at the end of the rent to own term. We work with you along the way so that you get approved!
Credit Repair Program Process:
- Initial Credit Check
First and foremost we will assess your situation and then (with your consent) request your credit report from the credit bureau. We want to make sure there are no surprises, or errors on your report. It happens all the time. By doing this we can often times qualify someone for a home FASTER, or they may not even need to do a rent to own because we are able to clear things up right away!
- Pay down/ Pay off Debt
Over the term of your rent to own agreement, you will be working on reducing or paying off bad debts. We will assist you with this process, determining what needs to paid down and what needs to be paid off. We will help you prepare yourself so that you can get qualified for your mortgage.
- Quarterly Contact
Over the course of your rent to own term our credit specialists will keep in contact with you to make sure you are on track. If you ever have any questions or concerns, we are there for you.
- Yearly Credit Checks
Every year we will review and discuss your credit report, and current credit situation. We want to make sure you are on track, and that your debt is being reduced. We also want to make sure there are no surprises/errors, and that no detrimental credit activities are happening.
- Building Savings
With every monthly payment made on time you are earning credits that will be going towards your down payment through our down payment savings program. A good down payment works in conjunction with your credit repair program to ensure that you will qualify when it comes time to apply for your mortgage.
- Final Application and Approval
Last but not least we work with you to make sure your application is well prepared. 6 months before the end of your rent to own term we will be in touch with you to start getting all the documents in place, to make the financing, down payment, and qualification is all good to go.