How the First Time Home Buyers Credit Determines Qualification

First time home buyers credit does determine qualification. There is no way around it. If your credit is bad you need a credit repair service. Period End of Story.

A first time home buyer credit does determine qualification. Although this is an area that is very subjective, I am going to give you advice from my many years of experience dealing with underwriters.

Take it I know what I am talking about.

Ok get your credit report from all 3 credit bureaus. You can do this for free by contacting the 3 credit reporting agencies and asking them for your credit report. You are allowed 1 report per year. It is a good idea because if there is something on the report that you do not agree with, the information they send you will have directions for the dispute process. You can write them at the following:

EQUIFAX INFORMATION SVCS LLC WWW.EQUIFAX.COM P.O. BOX 740241 ATLANTA, GA 30374-0241 800-685-1111

TRANSUNION WWW.TRANSUNION.COM/DIRECT P.O. BOX 1000 CHESTER, PA 19022 800-888-4213

EXPERIAN WWW.EXPERIAN.COM P.O. BOX 2002 ALLEN, TX 75013-0036 888-397-3742

You can get a free credit report once a year here. Credit reports Once you have the report you will need to purchase your credit scores. It is not a great expense, but something you will need to finish the pre qualification process.

When you have your scores we can move on. To start with the middle score must be above 620. Some Mortgage Companies do allow lower scores, but they are far and few between. If you are just a middle score of 620 you will need a good letter of explanation.

You must explain that although you are a first time home buyer, credit is important to you, and list the actions you are taking so that your past mistakes will not happen again.

Email me and I will try to help answer your questions.

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