These 4 steps should help you find your way through this often stressful time and make your life a little bit easier at loan time. The three credit bureau's are: Experian, Equifax and Transunion. For those of us who have had credit issues this can seem like the hardest part, the part you wanted to avoid but the truth is avoiding it will only make it worse. how much money you owe). Just google “credit reports” and you’ll find hundreds. You can view it over the Internet or have it mailed to you. This also takes a lot of the stress off of you. This Number is the key element in determining the loans you will be eligible for and the terms within the loan. Often, there will be items on your credit report that do not belong to you, etc. STEP 4 SHOP AROUND Your 4th and final step is to find and choose the lender with that perfect loan. You do not sign up for anything, it’s your for the taking-FREE!!!!The only downside is that your Fico Score is not included. iMortgage Central iMortgage centralis a great company. Even if your credit is not an issue it is a good idea to run your credit and get your score. They also offer 3-n-1 credit reports which I do not recommend because they are very hard to read, you don’t really know which credit bureau has which accounts listed because everything is sort of merged together and they are VERY long. Third, there are many other companies that can obtain your Fico Scores/Reports for a reasonable price. Why own a home if your always going to be at work trying to make ends me? Higher FICO Scores = Lower Monthly Payments. Knowing these can give you leverage during the loan negotiating process by allowing you to only accept the best offers that are reflective of your credit score. Okay, now there are 3 ways in which you can obtain your credit report. First, many people don’t know that they are entitled to one free credit report a year -per credit bureau, yes, all 3 are obligated to give you 1 free credit report a year. This will give you a heads up and maybe even make you re- think your price range +/-. This is not the same thing at all. You will have to purchase that from a credit bureau or you can purchase it from myFico.com either way it is worth the money. Second, you can purchase a credit report through each individual credit bureau. Especially when you just went through all the trouble to improve it. You can find one at Casa Grande New Homes. The best thing is there is no obligation. You can you obtain it at www.annualcreditreport.com. Please note there are companies that offer free credit reports if you sign up for a trial offer of a product. They do not automatically send it out. If you choose this route make sure you read the fine print. So, step one is over~ it only gets better from here and remember don’t worry, as long as your working at fixing your credit it will get better. It is very easy; please take advantage of this if you have not already done so. Have them competing over you. Are you having fun yet?). Something to look in to. Ameriquest Ameriquest Mortgage is another great choice. They provide excellent customer service and believe in finding the loan that is right for you. Now on to step 2, one-step closer to your new home STEP 2 LOWER YOUR DEBT The 2nd step is to lower your debt (if you have not done so already). Also go in with a set price range and don’t exceed it unless you CAN afford it. There are many great companies who specialize in debt consolidation. I thought so! This step is the most important because your credit has a great impact on the terms and % of your loan~ NO MATTER WHAT. They specialize in loans for those with not so perfect credit. It needs to be put into action ASAP because it is a process that does take time. You want to try and bring your debt down as much as possible before owning a home. This is the most important step so PLEASE do yourself a favor and don’t skip it! Ameriquest is one of America's most flexible lenders with over 28 years in experience. Finding a loan that’s right for you isn't always easy, especially if you don’t go about it the right way. When your debt to ratio income is good your % decreases. Only you know what you can afford and remember you want to enjoy that new house right/ Even if it means passing up a few of the upgrades. It’s FREE and very helpful. Also, by managing what is on your credit report you can improve your credit score a.k.a your Fico Score. So in order to reduce your monthly payment and % on a bad credit loan (or any other loan) you must know what is on your credit report to be able to fix it, the point is not necessarily to get your credit to a perfect standing, that takes a long time, what your trying to do is improve it as much as possible before your home purchase so that you can find a loan or bad credit loan that will work for you without it being a financial nightmare. It happens to the best of us and can sometimes take months, even years, to repair so that is why we list it as step #1. They get you 3 different quotes without pulling your credit, they also offer loans to those with bad credit, and you can get a quote within 24 hours. With iMortgage you can shop around with just one site and one application without it affecting your credit score. I think an even more important reason to pay down your debt is so that you are not bogged down with bills AND a new mortgage. Of course that does not mean you can’t get a loan if you have bad credit. Going in knowing what you can afford will also cut out the back and forth between you and a lender because you will know up front a price range that is financially acceptable for you. Credit Solutions is a wonderful company, they are actually the debt settlement company in the US and were featured on NBC. I have listed a few great online lenders but again try to find what works for you. 1. They allow you to compare lenders and choose the one that’s right for you. Basically, they know little tricks that we might not when it comes to repaying our debt. This sort of goes hand in hand with the credit report. So, if you get a better % you get a lower monthly payment and maybe even a better loan and this getting the loan wont be so financially stressful. Remember you want to get the best deal, you’ve worked hard you deserve it. I know it makes sense but is often easier said than done. Anything to make life easier, especially during this time. They have thousands of loans to choose from. Other things such as establishing or re-establishing credit take longer as do delinquent accounts, etc. I would see what you can do on your own first to fix it up but if it is to much of a mess to clean up on your own there are companies who can help you fix your credit and even remove some of the items. Unfortunately, that's just the way it is but at least you can get a loan, years ago you would not have been able to do so with bad credit. If you have been only human (like most) and have made a few financial mistakes your credit report and Fico Score were most likely affected. Buying a home is a wonderful experience and you should be able to enjoy it so any shortcuts are worth taking! STEP 3 KNOW WHAT YOU CAN AFFORD The 3rd step is as easy as a few clicks. So basically if you pay down your debt you win two ways because paying down your debt will also improve your credit score (See, I told you this would get easier. Do your homework on your top 5 and then from there choose 2 or 3 to work with. There are many bad credit loans available today and we say thank goodness to that but we have yet to find a bad credit loan with a great low monthly payment and percentage rate. These can be disputed and it takes about a month to update. Use an internet based mortgage calculator to find the right loan price for you. Your friend the mortgage calculator can help you figure out what you can afford. Here's the catch- you have to ask for it. Now go and get ‘um!!!!! GOOD LUCK!!!!!! Do not let a whole bunch of lenders run your credit. These sites sell their single report for a reasonable rate and you can add on your credit score for an additional fee. Completing each step will get you closer to finding the perfect loan with the right price. STEP 1 OBTAINING YOUR CREDIT REPORT The 1st thing you want to do is run your credit (if you haven’t done so already). Visit them today for more details on all of their excellent loan and refinancing programs. Finally you have made it, ready or not your loan awaits you. Perfect for all of the things we discussed above! 2. Your looking for the loan that is just right for you, look for specials or ad's that pertain to you. Another factor lenders look at besides your credit score is your debt to ratio income (how much money you make vs. After all you do want that new house, don’t you? Narrowing your choices down to the best sites isn't always as easy as it could be. Finding the most powerful and informative involves yet patience and perseverance. The main help that the web storekeepers hold over traditional retail outlets businesses is lower costs of online companies. 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4 Steps to Finding the Perfect Loan