Michael Santos

MLB Residential Lending

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Have You Had Trouble Getting a Mortgage? Three Tips for Sprucing Up Your Credit Before Reapplying

November 4, 2014 by Michael Santos

Have You Had Trouble Getting a Mortgage? Three Tips for Sprucing Up Your Credit Before ReapplyingIf you’ve had some trouble getting approved for a mortgage recently, you’re not alone. Many individuals face mortgage challenges due to past blemishes on their credit reports or a personal financial crisis that resulted in bills not being paid on time.

In this post we’ll share three quick tips for sprucing up your personal credit before reapplying for a mortgage. With a bit of luck and hard work you can be on your way to purchasing that new dream home.

Pay Off Your Credit Cards And Lines Of Credit

The easiest way to improve your credit score and prove that you can afford your mortgage payments is to eliminate other forms of debt from your monthly budget. If you have outstanding credit card, student loan or other debts, get them paid off as quickly as possible.

You’ll also want to avoid taking on any new loans while you’re trying to get your mortgage approved as these are likely to show up on your credit report and can hurt your chances at approval.

Pull Your Credit Report And Look For Errors

If you haven’t seen your credit report recently, it might be worth investing in a copy so you can see exactly what your lender sees when they are evaluating you for a mortgage. You may discover that there are errors or inaccuracies that can be cleared off with a quick phone call, such as a past loan that was fully paid or a missed car payment that was reported in error. Every credit report error that you can fix will bring you one step closer to your mortgage approval, so spend a few minutes combing through your report.

Pay All Of Your Bills On Time

Did you know that every overdue bill can leave a negative mark on your credit report? With so many bills to juggle – credit cards, cell phones, utilities and more – it can be tough to keep them all organized and paid before the due date. However, if you’re working to secure a mortgage you must keep your bills paid to avoid being reported as a late or overdue payment.

If you’ve had some trouble getting approved for a mortgage in the past, take a few minutes to contact your local mortgage professional today to ask for their advice. You may find that they have additional tips and strategies that you can leverage to better your chances of being approved.

Filed Under: Home Mortgage Tips Tagged With: Mortgage Acceptance, Mortgage Financing, Mortgage Tips

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Branch Manager Executive / Mortgage Loan Originator

Top Loan Originator Since 2001

Call (908) 296-6608

NMLS #199875
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MLB Residential Lending, LLC.
NMLS# 1101220
1095 Morris Ave.
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Union, NJ 07083

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This is not a commitment to make a loan. Loans are subject to borrower and property qualifications. Contact loan officer listed for an accurate, personalized quote. Interest rates and program guidelines are subject to change without notice.
MLB Residential Lending is an Equal Housing Lender.
NMLS# 1101220.
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Michael Santos is not licensed in NY and this site is not intended for NY loans.
Michael Santos NMLS #199875 • MLB Residential Lending, LLC. NMLS# 1101220. Michael originates NJ loans only. MLB Residential Lending, LLC. is located at 51 Commerce Street, Springfield, NJ 07081, 732.243.0140. MLB Residential Lending, LLC. NMLS#: 1101220 is a residential lender, licensed by the NJ Department of Banking and Insurance; licensed by the PA Department of Banking and Securities; licensed by the CT Department of Banking; licensed by the DE Dept. of the Banking Commissioner; and is licensed under the FL Mortgage Lender Service License # MLD1128. All rates are subject to change without notice. MLB in no way, claims to represent or to conduct business on behalf of HUD, the FHA or the Federal Government. This site is not authorized by the New York State Department of Financial Services. THIS SITE IS INTENDED ONLY FOR NJ CONSUMERS.

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