Tim Corr - The Mortgage Guy

C R E D I T D O ' S A N D D O N ' T S

Do not buy a new car, furniture, computer or other big ticket item just
before you buy a house! The new debt will diminish your buying power!

Pay all credit on time...that means, if it's due on the first of the month, get the
payment to the creditor on the first, not the fifteenth. Creditors are more diligent
about reporting late payments and not quick to remove mistakes.

Consult with your loan specialist about which loans to pay off before you apply
for a mortgage. Note: Paying off all your charge cards may actually hurt you.

Critical types of credit and debt payments include rent/mortgage, child support,
student loans and car payments. Any late or slow payment can be detrimental
and require good explanations. A "good" explanation does not include, "Oh, I
forgot.", "I was on vacation.", or "I was traveling on business."

Poor credit can be managed and there are programs to help obtain mortgages
even with credit situations.

Contact us today, for more information about credit issues.