LITS can help you improve your credit
The home buying process relies heavily on your credit. Simply put, your credit score affects that interest rate you will receive on your mortgage. Additionally, the interest rate will directly affect the amount of the mortgage you receive. For example, the average mortgage provider will allow you to take out a loan for your house that is at maximum 25-30 percent of your monthly income.
If interest rate wasn’t a factor, you could take the base 25-30 percent and figure out the home you could afford. However, bad credit will cause you to pay a lot of interest, which cuts into that 25-30 percent. It’s also important to note that with bad credit, a typical home mortgage can cost hundreds of thousands of dollars more through the life of the loan.
But don’t worry, that’s where we come in. LITS can help you improve your credit before you buy a home. Improved credit at the time of application and purchase can help you not only get a better interest rate but also save you a lot of money throughout the years of your mortgage repayment. Click here to schedule a consultation with our credit repair specialist and start your journey to home ownership on the right foot.
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