LENDING A Han With spring here and summer right Cr ec aged preparing to take the leap and Ee oer] Pe eeu eed Sea ares fom In) cee For those beginning their ee er nad eclipsed by the stress of navigating Peron econo answers. Instead of turning to a quick Re ae aa and family outside of the industry, seeking the guidance of a lender has the power to save time and money ee eee eT) oe eee ae eT) difficult one. oy Cree eect Cai eee ad for their dollars. From the first loan discussions to the closing table and Snare eae dedicated to being at the buyer’ s Coa a eat eects Ee en Your Lender Can. Help You Raise Your Credit Score a Your credit score is a numerical expression of your credit history, used by banks and lenders to predict the likelihood of loans being paid back in the future. Ibis often determined by payment history, amounts owed, length of history and credit types. Your lender can help you perform a credit score review and work with you to understand which actions can affect it and which loan. products might be available to you. A credit review with your lender covers: Factors that may be negatively impacting your credit score: These can include closed accounts, credit activity, and debt-to-income ratio, along with other things may have lowered your credit score without you realizing it = Which debts to pay down: A careful examination will show any debts that can be paid down quickly to help raise your number. Negotiating a higher credit limit with your creditors: A larger gap between your balance and your limit can help increase your score. There are plenty of other factors that can affect your score, and each person's circumstances are different. A lender can help you take a look at your particular circumstances and get creative to figure out what option might work best for you. A review and an honest discussion with a mortgage loan professional might even help you raise your score in a much shorter time than anticipatedHelp You Understand Your Buying Power Knowing your buying power will help you go into your home search with a clear idea of which properties are in your price range. Your buying powers affected by your credit score, debt-to-income ratio,down paymentand assets, including savings and investments all of which alender can help you determine. Your buying power may be affected by: Home equity: There may be equity in your home that can be used for debt reduction, which can then help strengthen your debt-to-income ratio and increase your buying power. Knowing what you have in equity may also help you to determine what home you may be able to afford if that property was sold. Refinancing loans: ‘review of each of your existing loans can help determine which can be refinanced, tohelp them better align with your credit goals, dropping your monthly payment and leading to a better purchase limit. Having a co-borrower: Having another person added to the ‘mortgage may help you qualify for loans that otherwise may be unavailable because of alow debt-to-income ratio. Opportunities you may not have thought of: ‘Sometimes, your lender can shed light on options you might not have considered. ‘Simple things like asking for a raise at work a bitearly,or gifts that may be coming your way soon from relatives, can be counted among income and assets, and help you qualify for new loans.Empower You on Your Tan R Colm) out ‘The good news is that on the path to buying a new home there are plenty of. Sena eg ists ae ns ee eae ie ae e peer om cnt eee ewig ai ees Peete Ter od to seek out the advice of a mortgage Recess lenders are armed with years of expertise pe et aa See eee LS eee ec) ec eet] See ue es Sere eg Cee aera ae nec oT ey Bee Sea) tee Eran