😀Options For Buying A Home With Bad Credit Mortgage 😎😊

Can You Buy A House With Bad Credit in Arizona?    By Dennis Dahlberg Broker/RI 623-582-4444 M NMLS 1018071 AZMB 0923961 August 29, 2023  The best home loan option with bad credit depends on how low your score is. If your score is below 600, you probably should look into an FHA loan or VA loan. Of course, the best option is to work on repairing your credit score before you submit a mortgage application. While this is not the answer borrowers want to read or hear, it's the most practical and can save you thousands in interest payments. Not only will you have more mortgage options, but you might be able to get your loan with a lower income requirement and down payment. Of course, as stated above, if you have a score of 500 or below, you probably won't be able to do anything except wait until you increase it. Also, if you're looking to buy a house with a bankruptcy on your credit, you will need to wait at least 2 years before a lender will start considering you for a new mortgage with bad credit. You can take the necessary steps to grow your score by understanding the following: Payment history: Your payment history is responsible for 35% of your score. This is the main reason people are continually saying "pay your bills on time" regarding your credit score. Credit utilization: The amount of credit you are currently using is also known as your credit utilization and is responsible for 30% of your score. The more credit you're using, the higher your credit utilization, and the lower your score can become. It would help if you looked to keep your total credit usage under 30%. Age of credit history: This is most often referred to as your "average age of accounts" and is one of the few factors you have almost no control over. Your credit history is basically the age of your oldest credit account, new credit accounts, and the average ages of all the accounts on your credit report. The length of your credit history makes up 15% of your score. Credit mix/types of credit: When you look at your report, you'll notice that there are a few different types of credit on your report. Those can be revolving credit (like credit cards) or installment loans (like car loans or personal loans). Having a mix of credit is a good thing for your score, and it is responsible for 10% of it. Amount of new credit: Having an account less than 6 months old is usually considered having new credit. Your score will be impacted whenever you add a new account because it will give you a hard inquiry and decrease your average age of accounts. Be mindful when applying for new credit as it contributes to 10% of your overall score. Increase Your Available Credit Once you get a better handle on things and have started improving your score, increasing your available credit can help raise it a little faster. You can do this by either paying down balances or making a credit limit increase request. This effort helps increase your credit score because you will decrease your credit utilization, which is a huge factor in determining your score. Remember, it's best to have a higher credit score to buy a house and apply for mortgages. And guess what: Most credit card companies allow you to request as many increases as you like without it causing a hard pull on your credit. Add New Accounts (In Bulk) Adding new accounts also means you'll be increasing available credit and increasing your overall credit mix. Doing this in bulk is even better because it puts everything in the same time frame. Your inquiries will all fall off on the same day, any new accounts will age together, and you'll add more available credit to your report. This change also allows you to establish an even stronger payment history on your credit report. It usually takes less than 30 – 45 days to see the effects of adding bulk, new accounts to your report. Pay For Deletions One of the worst items you can have on your credit report is a collection. Collections show lenders that you owe money to someone and have not attempted to pay it back. Even if you pay the collection off, it can remain on your report as "Paid," which is better than having an outstanding collection. However, the best result which will help even more is to request the items be deleted from your credit report if you make a late payment. Before making a payment for deletions, make sure you get the transaction in writing. It will be like you never received that collection, thus increasing your credit score and giving lenders one less reason to decline you. Stay Away From Hard Credit Inquiries While getting an insurance quote won't affect your credit score, applying for any type of new credit will. Having too many hard inquiries on your credit is not a good thing. When applying for any type of financial transaction that requires a credit pull, always check if it's a hard or soft pull. Avoid doing anything requiring a hard pull close to when you apply for a mortgage. Find A Co-signer Depending on your mortgage, you may be able to qualify for a home loan with a co-signer. This addition can help bump you over the credit threshold as the co-signers income and assets will be considered along with yours. You may also qualify for a larger loan amount with a co-signer, even with bad credit, which can give you a bigger budget when shopping for a home. In most cases, a co-signer will only help lower your debt-to-income ratio, which by itself helps with qualification. Another person's income and assets will make it easier for you to afford for a higher monthly mortgage payment. Most of the time, the lowest median credit score of all borrowers on the loan is the one that counts. However, if multiple borrowers are getting a loan backed by Fannie Mae, the guidelines allow for lenders to average the median scores of the borrowers. This can mean the difference between qualifying or not getting the loan. For example, if you have a median credit score of 580 and your co-signer has a score of 720, you couldn't qualify with both incomes until recently. Now Fannie Mae policy, in many instances, is to average the scores, coming out at 650. You can get a loan. It's important to note that for the purposes of determining your interest rate and mortgage insurance cost, the lowest median score is still used, so your rate may be slightly higher. Additionally, the averaging of credit scores doesn't apply to every loan option. We encourage you to speak with your Home Loan Expert. The Bottom Line On Bad Credit Home Loans Applying for a home loan Having bad credit doesn't mean you can't enjoy the benefits of homeownership. Instead, it might just require additional research when looking for financing. With a loan backed by the government like an FHA loan, you can qualify for a mortgage even with a 500 credit score. It might be tempting to buy a home as soon as possible, but it's better to take the time to assess available options and interest rates while you start shopping for a loan. Matt Prosory RI/MLO/Broker NCO Enterprises LLC Dba Setabay Private Hard Money 26731 N 90th Drive Peoria AZ 85383 Telephone: 623-582-4444 NMLS 2062278 NMLS 1118493 Equal Housing Opportunity. This is not a Good Faith Estimate nor a Guarantee to lend and should not be considered as such. Costs, rates, estimates, and terms can only be determined after completing an application. Actual payments will vary based on your situation and current rates. APR for loans ranges from 7.99 - 29.5% and is based on Credit Score, Down Payment, LTV, and Income. Mortgage rates could change daily. For more accurate and personalized results, please call 623 582 4444 to talk to a licensed mortgage expert. Terms and conditions of all loan programs are subject to change without notice. NCO Enterprises LLC Dba Setabay Private Hard Money 26731 N 90th Drive Peoria AZ 85383 Telephone: 623-582-4444 NMLS 2062278 NMLS 1118493 This email is for the exclusive use of the intended recipients and may contain privileged and confidential information. If you are not an intended recipient, please notify the sender, delete the email from your computer, and do not copy or disclose it to anyone else. Your receipt of this message is not intended to waive any applicable privilege. Neither this email nor any attachments establish a client relationship, constitute an electronic signature, or provide consent to contract electronically unless expressed by Matt Prosory RI/CEO, in this email or an attachment. To the extent this message includes any tax or legal advice. This message is not intended or written by the sender to be used, and cannot be used, for legal or tax purposes or advice. This email is an advertisement.

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TESTIMONIES! TESTIMONIES FROM THE LAST WEEK: On August 30, during a routine visit to my PCP, I was diagnosed with T2D with an A1C of 7. As I researc Web Version   Forward   TESTIMONIES! TESTIMONIES FROM THE LAST WEEK: On August 30, during a routine visit to my PCP, I was diagnosed with T2D with an A1C of 7. As I researched on what to do and/or not do, I came across your channel on YouTube. I embraced your suggestions and practiced them. In 7 weeks, my A1C as at October 18 was 6.2, and to date, I have lost 30 pounds!!! I know I am not there yet but to me, it is an encouraging start to a lifestyle for great health! Thank for guidance &inspiration . . . am at 5. 7 A1c &lost 55 lbs. (from 275 to 220 = 20% weight loss) thanks to your inspiration/info . . . hardest part is the endo & GP that I work with are clueless even though in their 30's &40s . . . 70 year-old male in San Fran I've been practicing the keto way as you described here for 6 months. My a1c was 6.3 with fasting glucose of 136. Triglycerides had zoomed up to 189. I had gained weight during the big C event and felt like a dog. This week I tested at 5.5, fasting glucose at 99. Triglycerides fell more than double, back to normal weight. I'm not where I want to be with my glucose and a1c, but I will get there. I no longer live to eat but eat to live. It matters. Dennis, sharing that it's been 11 weeks since my T2D diagnosis. I had suicidal thoughts and felt defeated till I came across your YouTube. My A1C in August was 12.3, as of November 8th it is now 6.8. Big thanks to YOUR guidance! I take 1000- 2000mg Metformin per day. I switched to a ketogenic diet and OMAD. I have a bit more to go to reduce my A1C further, but I'm motivated and hopeful!! Thank you so much! You are saving lives in so many ways!! An endocrinologist told me that I would never lose a lot of weight because of having poly cystic ovarian syndrome. By eating low carb and fasting, I have lost 24 lbs in 3 months. I was told that being insulin resistant, I would only cure this by having surgery. Your message has helped me control my glucose. My 70 yr old grandma was told diabetes at 69 yrs old and 220 lbs. AIC was off charts, she found out in hospital. GOD let her find you. She stopped 99% carbs. She ate 2 meals daily, she never drank booze, sodapop, not much on candy… Now her A1C is down in 5 range. She weighs 148. Thank you for making known all the diabetes information...the how too go about it! As you both know all too well the internet is information overloaded. I came across you, but I did not stay put long enough to know this is the best place to start and stay. Thank THE LORD HE brought me back to you! I just want to acknowledge all your help! A year ago I was an 8 A1C; now I'm down to 5.9. Many Thanks with much appreciation!!! I Beat Diabetes By Following Your Video::: On 07/09/2023 Fasting Blood Glucose Was 231 With Oral Hypoglymics, Which I Gradually Tapered Down To Zero & Then Took A Fasting Glucose Test On 04/11/2023 & Got 130! Good morning Dennis I lowered my Type 2 diabetes from 7.3 to 5.9, thanks to you and my doctor. Very happy. Started at 8.3 A1C in Nov 2022 ..... went down to 6.0 in Feb 2023..... then down to 5.7 in July 2023, now a year later in Nov 2023 bloodwork came back with 5.1 A1C thanks to following the info on your channel Mr. Pollock and others Dr. Fung, Dr. Boz, Dr. Hansen, Dr. Berg and Dr. Berry! You all are my go-to in order to keep motivated. Looking to get an A1C of 4.9 or lower with next check-up. In the last 8 months I have dropped 87 pounds and exercise 5 days a week eating a Keto diet. My A1C dropped from 9.4 to 4.2. After finding out I had diabetes (same time I had a 3x heart bypass) it took me over a year to convince myself I could eat that fat without harming my rebuilt heart. 6+ years later this now 76 year old guy is still working and enjoying life AND healthy much to the chagrin of my pcp who thinks my way of eating is terrible. Have a Blessed Thanksgiving - And Don't Cheat (too much)! Thanksgiving is Coming! Take a break from your 2 meals a day plan, and enjoy 3 meals on Thanksgiving. But make sure they are at least relatively low carb. There are so many low carb keto desserts, there is no reason to eat a regular sugary dessert. Check out this video by Benedicta and me, on how to make a delicious, low-carb pumpkin pie. And remember, whipped cream has very few carbs, and is allowed on a low carb diet. Den & Ben's Low-carb Pumpkin Pie Video This is Your "Homework!" This challenge is more than a way to eat. It involves gaining motivation to beat diabetes by hearing the truths that set diabetics free. You cannot afford to miss the recommended videos. So PLEASE, PLEASE take the time to watch these videos! Jump this Hurdle (Dennis) Naturally Reverse Insulin Resistance (Dr Jason Fung) To Support "Beat Diabetes" click on the button below Here are Links to Videos Featuring Keto tortillas/chapatis/flatbreads Keto Roti/Chapati (in an Indian Language) Keto Roti (English Language) Keto Rotis, Flatbread Keto Mexican Tortillas 90 Second Keto Tortillas Get An Approximate A1c To figure your A1c at home, test your glucose 5 times in one day: Fasting glucose in the morning One hour after lunch Three hours after lunch One hour after dinner Before you go to bed Average these five numbers (divide by 5) Plug that number into the calculator ON THIS PAGE This will be a pretty close approximation of your A1c at this time. ©2023 Spirit of Grace Ministries | PO Box 2068, McKinney, TX 75070 Web Version   Preferences   Forward   Unsubscribe     Powered by Mad Mimi®A GoDaddy® company