With the Summer Games going on, everyone is talking about swimming, sprinting, and the American team’s chances for gold. While you’re at home, you can still get your own gold medal just like our athletes by saving thousands on your mortgage with a new loan or a refinance. How can you do it? Just like winning a gold medal, it takes work, but feels like the biggest victory of your life.
Fix your credit
Just like training for the Olympics, some people can’t get a great rate overnight. If your credit is in bad shape, get it in the gym and train it up! There are several ways to fix your credit to help you get the rate you want. Just like training your body it starts with the basics.
Make your payments every month. On time. EVERY MONTH. Like a runner waking up every morning to train, you need to dedicate yourself to paying those bills, no matter how much it hurts. Paying your bills raises your credit score. Period.
Pay down your credit cards, but keep them open (unless there’s an annual fee). With credit, it’s better to have it and not use it. Like building up stamina for your event, having extra credit available to your balance is huge towards your credit score. Many people are tempted to close credit cards as soon as they are paid off. This is a mistake. The cards will actually help your available credit rating and raise your credit score. It’s the bank telling people that they’re willing to give you money if you need it.
Get Your Paperwork Together
Now that you’re ready to compete for that gold medal low rate, you can apply. But you want to be prepared. Get all of your paperwork together to make sure that you get a fast start out of the blocks if you want to win this medal.
- Paycheck Stubs
- Bank Documents
- Investment Documents
- Tax Documents
- Profit Statements (Only if self-employed)
- Proof of income from rental properties
- Proof that a gift is not a loan
- 12 months of canceled rent checks and bank statements
- Divorce decree
- Proof of age of children in child support is involved
- Bankruptcy discharge paperwork
Get all of this stuff together before you call, along with your current mortgage statement. Then, you can be sure that we’ll get your rate locked in, and get you up on the medal stand.
If you are ready to win the gold medal for mortgages, call us today! Take advantage of lower mortgage rates to buy your first home. Call us in St. Louis at (314) 781-9700, Chicago at (773) 770-4727, Indianapolis at (317) 550-1515 and Nashville at (615) 810-8555. You can always apply online at www.thehomeloanexpert.com, and we’re also open on Saturdays to better serve you. Nobody gets lower rates on better loans than The Home Loan Expert, Ryan Kelley, why go anywhere else?