If you're looking to buy a home or to refinance an existing mortgage, but are concerned about your credit history or credit score, don't be. Getting a mortgage with less than perfect credit is possible!
*Our credit care process does not guarantee a score increase or home loan approval. We are not a debt settlement company.
How it works
Suppose you’re within 20 points of meeting mortgage loan program qualifications. In that case, our Credit Care team can coach you through credit weaknesses and the next steps — without any cost to you! Our guidance can get you started on removing credit inaccuracies and can help you repair your credit score fast.
Keep in mind that the plans we create often require you to pay off items, provide documentation, open a new credit card, or provide us authorization to re-pull your credit. While we do not charge a fee for our service, you may experience some out-of-pocket expenses as you work to repair your credit.
How are credit scores calculated?
Your credit score will tell lenders how likely you are to pay back what you owe. The greater your score, the more trustworthy you are, and that can mean better terms and rates.
This leads us to the questions — what does it take to get the best score, and how are credit scores calculated?
Believe it or not, three different credit bureaus report on your score — Experian, Equifax, and TransUnion. They each compile information from lenders who have extended a line of credit to you.
That data is then grouped into five categories:
Payment history (35%) — whether you make on-time payments or miss payments
Amounts owed (30%)— number of accounts you have and the total amount owed
Length of credit history (15%)— how long you’ve had accounts open
New credit (10%) — applying for new credit can lower your score
As you can see, some categories rate higher than others. So, it’s essential that you are responsible for your account balance(s) and you make payments on time. Every time you miss a payment, you negatively impact your score.
How to get started
Credit score repair may be one of the first steps in your home buying or refinancing journey. Our credit experts have over 20 years of combined experience and have over a 90% success rate when customers follow the defined program as suggested by their credit professional.
Once the desired score has been achieved, you’ll be connected back with your salary-based mortgage consultant so you can proceed with the home loan process.
Don't just take our word for it. Listen to what others have to say about their American Financing credit care experience.
Great service from the American Financing Credit Care Team! Without them, I would have never been able to
raise my score to get this refinance. AAA+++
I worked with the American Financing Credit Care Team to get my credit score up so we could qualify for as a
first-time homebuyer loan. They went above and beyond my expectations and even helped my husband raise his
score over 100 points! We are so grateful for everything. We couldn't have done it without them!