Buying a new home in Southwest Michigan is a little more challenging these days in some respects, but very easy in others. Yes, if you are going through some credit problems, it can mean you need to undergo some credit repair.
However, if you have a credit score that is in the 620 range, you likely can qualify for a home mortgage with most lenders, provided your work tenure is at least 2 years old, and your income is stable.
Most buyers that I meet are surprised to learn that they have actually three credit bureaus, and thus three credit scores, and that lenders use the middle score when approving them for a loan program. The three different credit bureaus are called Experian, Transunion and Equifax. Each has a credit score, and the middle one is the one that is a guide for the lender.
So sometimes a little credit repair is needed, but many times it is very minor if only one
score is low. Another important thing to do when buying a new home in Southwest Michigan is to work with a Realtor.
A Realtor can help you connect with the right lenders, with programs that can work best for you. Buying a new home in Southwest Michigan is easy when you work with a Realtor, as they can often spot things with regard to the condition of a property that may or may not be a problem for a certain type of loan.
Not all homes qualify for every time of loan program, and so when looking at homes it is important to know these characteristics. Additionally, rural properties can require additional inspections, such as well water tests, and septic inspections. Some loan programs like USDA Rural Development and Federal Housing Authority (FHA) require it.
So if you would like to find out how to go about Buying a new home in Southwest Michigan, give me a call at: 269-441-8182 or contact me through my website at: www.michaeldelaware.com.