If you’re worried about the state of your credit score, a mortgage lender in Santa Clarita is available to offer assistance.
“Immediately call your mortgage professional,” said American Family Funding Mortgage Advisor Fred Arnold. “A lot of mortgage professionals can pull a copy of your credit report for the purposes of analyzing it.”
Though it may be tempting to seek credit scores elsewhere, Arnold advised caution.
“Don’t mistake the scores you’re getting on your phone from the different credit card companies for a mortgage credit score,” Arnold said. “Many times, they’re different.”
Credit is “critical” when it comes to applying for a home loan, according to Arnold.
“As your credit score gets lower, your price goes up on your loan,” he said. “The higher the credit score, the better interest rate you’re going to get.”
By viewing a copy of your credit report with the assistance of a mortgage professional, you can then take any steps needed to help improve your credit score.
“It might be as simple as re-allocating some of your debts, paying off a few debts,” Arnold said. “Maybe there’s a collection account that needs to be taken care of that you don’t know (about)… Talk to your mortgage professional.”
Santa Clarita mortgages lender American Family Funding can help you fulfill your dream of home ownership. A highly rated Santa Clarita mortgages lender, American Family Funding maintains a focus on community involvement and a commitment to giving back whenever possible. A friendly mortgage advisor will make the first time homebuyer experience an easy and stress-free experience — even with bad credit or a low down payment. The Santa Clarita home loan officers at American Family Funding also specialize in VA loans, reverse mortgages, refinancing and the STAR Loan Program.