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Buying a Home?
 

Credit Issues?

Have you been getting the run around from banks?

Get a Home Trust Equity Line of Credit

The Home Equity Plus VISA Line of Credit lets you use the equity in your home to secure a line of credit for $10,000 to $150,000. Click Here to find out more

Problems getting a Mortgage?

Do you fit one of the following situations?

We have access to several institutional lenders who will lend even with the above criteria in place.

Self Employed?

We understand the road blocks put up by traditional lenders when it concerns self employed borrowers. The Lenders require three years of tax returns and company financials, and use net taxable income instead of the traditional gross income for salaried employees. Most damaging is the fact that even though self employed individuals may have perfect credit they show a low income for tax purposes, disqualifying them with the lenders.

Credit Problems? 

Most consumers are not aware they can purchase or refinance a home even if they have had problems with credit in the past or present.

Don't let past problems hold you down! Don't let the most powerful finance tool available, home ownership, elude you one more day. Your interest rate may be a little higher than someone with perfect credit, how much higher will be dependant on each individual's situation. You may also need a higher down payment, again dependant on each individual's situation but you can own a home, let Mortgage Best Inc. help.

Mortgage credit can be an excellent source of borrowing power. It can help you purchase a home, refinance an existing home, consolidate debt, obtain funds for an investment or make a major purchase. But if your employment status, current financial situation or past credit history doesn't fit the criteria prescribed by most lending institutions, you may - until now - have found yourself unable to take advantage of this borrowing power.

Today, there's an answer for people whose needs cannot be met by traditional lenders. Our alternative mortgage lenders break down the borrowing barriers for people who don't fit the typical mortgage mould.

If you've experienced a mortgage credit application rejection in the past, we may just have the mortgage solution for you. We listen closely to your borrowing needs. We place a great deal of importance on your demonstrated intention and ability to repay your mortgage credit. We don't just rely on the strict financial formulas. With that information in hand, we can find a mortgage tailored to meet your situation and needs.

Contact us to discuss your individual circumstances. We have lenders that may qualify you. If you cannot qualify now, we will show you what to do to prepare yourself to qualify in the future.

Solutions take imagination. It may involve the use of a guarantor, or a private mortgage to wrap around your current one. Often, we can refinance your property up to 90% of its value and pay out all your creditors and give you a lower rate first mortgage than you currently have.

We are here to help you. Climbing the ladder to financial independence doesn't have to be as difficult as we are led to believe by those annoying phone calls from creditors. It is possible to obtain a mortgage even if you have a poor credit history.

Mortgages can actually be a giant step in helping you to rebuild or improve your credit.

What is a credit score?

Your credit score and rating are produced by Equifax. This Credit Score is used by most lenders to help them decide whether or not you're a good credit risk. Equifax crunches the numbers from your credit report, and spits out a score somewhere between 300 and 850. A low score says you're a bad credit risk, a score of 680 or higher puts you in the driver’s seat.

Here are some of the factors considered when calculating your credit score and an estimate of how heavily each factor might be weighted.

• Past payment history (35 percent): bankruptcies, late payments, and past due accounts

• Amount of credit owing (30 percent): amount owed on accounts, proportion of balances to total credit limits

• Length of time credit established (15 percent): time since accounts opened, time since account activity

• Search for and acquisition of new credit (10 percent): number of recent credit inquiries, number of recently opened accounts

• Types of credit established (10 percent): number of various types of accounts (credit cards, retail accounts, mortgages) Present but unused improves your credit score

To repair and maintain your credit rating:

• Pay your bills on time. Delinquent payments and collections can have a major negative impact on a score.

• Keep balances low on credit cards and other "revolving credit." High outstanding debt can affect a score.

• Apply for and open new credit accounts only as needed. Don't open accounts just to have a better credit mix -- it probably won't raise your score.

• Pay off debt rather than moving it around. Also don't close unused cards as a short-term strategy to raise your score. Owing the same amount but having fewer open accounts may lower your score.

Make sure the information in your credit report is correct. It won't affect your score to request and check your own credit report. If you find errors, contact the credit reporting agency and your lender.

Mortgage Best Inc. can help make the impossible possible.

Our mortgage brokers are experts in helping all individuals find and receive approval for mortgages to make their lives better. In most cases, approval isn't too difficult to achieve. Worst case scenario: a person who is a very high risk, has many strikes on their credit report and evidence of a slow repayment history can still be approved, and will only be disciplined with slightly higher rates than a person with a flawless credit report.

Apply on line now OR Call our office today at 877-771-2378.