Choosing a Home Loan with Poor Credit is Possible

• Posted by aurelio krueger October 10, 2014 - Filed in Business - #find real estate  #local real estate  #real estate career  - 1,173 views
  Most people that have poor credit automatically assume that things like owning a new car or home are out of the question. However, this is not always the case, particularly when it comes to becoming a homeowner. Having less than perfect credit doesn't mean you can't become a homeowner. At vancouver real estate it's understood that not every person has great credit and they're ready to help.

  Apply at your Credit Union

  If you have less than perfect credit consider applying for a home loan from your credit union before heading out to speak with a Calvin Weinfeld Real Estate Sale Representative. Unlike traditional lending organizations, most credit unions are owned by the members who perform transaction with them.

  For you, this means that most loan request aren't just based on your credit rating, but also the relationship you've had with the organization to date. If you have credit problems, but have kept your banking or credit card account in good standing over the years, you might be more likely to get approved.

  Be Flexible

  If you have poor credit, when working with a Calvin Weinfeld representative, it's helpful to be flexible. Depending on your credit rating, you may not qualify for a loan amount you originally planned. Being flexible enough to look for homes you hadn't originally, is helpful.

  You can accomplish this by creating a must-have and wish list. The must-have list includes amenities you need, such as a master suite and two car garage. On your wish list, include amenities that would be nice to have, like a walk-in pantry or in-law suite. If you aren't approved for as much as you originally thought, you can start chopping away at your lists.

  Plan Ahead

  While there are a number of ways to help you get a home loan with poor credit, the best thing to do is to plan ahead. If you are not in a rush to purchase a home and you have poor credit, set yourself up on a plan for credit repair. If you are unable to accomplish this on your own, consider working with a credit repair specialist that can help you improve your credit rating in as short a time period as possible.

  If you are looking to purchase a home quickly, a counselor can still help you determine which steps to make first to increase your likelihood of a loan approval and getting a lower interest rate on your home loan.

  At Calvin Weinfeld Port Credit, working with all customers is a common goal. A Realtor and other team members work hard to ensure that everyone is afforded the chance to call themselves a homeowner.