How To Get a Mortgage Refinance Santa Clarita With Bad Credit

Do you want to know how do you get a new Mortgage Santa Clarita when you have had a few credit issues in the past? Here are some good tips on how to help you get a refinance Santa Clarita or a refinance Valencia.

Borrowers think they cannot get the Low Mortgage rates currently available because of their credit report issue.

• Start by working with a Bad Credit Mortgage Specialist who deals with these type situations daily. Many mortgage people will not have the experience nor be willing to work thru the problems to get the new mortgage.
• Determine exactly what the problem is and exactly what the plan to overcome this will be. I recently had a borrower denied by multiple lenders because of a $4500 collection item pulling down the score. An easy $50 per month payment arraignment saw the creditor remove it as a collection and show it as a current obligation.

Let us Send you a Free Credit Report

• Get a Credit Report. There are many places to get this absolutely no charge.
• Be proactive . Many borrowers just think the problems are to large so there is no way to overcome them. WRONG. If you want a new mortgage, get teamed up with a mortgage professional that can help you come up with a plan. Begin today.
• Private lenders that consider the property only and less your credit score are available . Rates are higher but usually lower that paying rent. This solution to a new purchase or refinance mortgage requires a hefty down payment so start saving now.

The minimum credit score to get a mortgage is about 600. We find many prospective homeowners and other that want to refinance that are below that but have issues dragging down their score we can help overcome. As an example, recently a borrower was declined due to high of a debt to income ratio. We looked at it and the main problem was high student loan payments. One call to the Lender and they gave the borrower a new lower payment which allowed them to get approved for a new home loan.

Another we helped had several issues that just needed us to file CD Resolves with the credit agencies. Within 3 days the items were corrected and the FICO went up.If your looking to get a new Mortgage Santa Clarita or a mortgage refinance Santa Clarita in any other state, contact us. We are a Los Angeles mortgage bank and can help you get approved for a home loan Santa Clarita.