If you’re a real estate agent or in the mortgage business, data tells us that nearly 1 in 10 of your homebuyer prospects cannot qualify for a home loan. That number may be significantly higher in different areas. If you have client prospects that do not have a qualifying credit score, this message can be very valuable to you. You will learn how you can help homebuyers increase credit scores faster than ever.
According to MarketWatch.com, the number one reason that prospective buyers don’t qualify for a mortgage loan is their debt-to-income (32%), followed by low credit scores (26%). With this new technology, you can now help your homebuyer prospects with both.
You Have the Power!
We have been in the business of building credit scores since 2012 and our company has helped thousands of people improve their scores in various ways to get in a position to buy a home. But we’ve never been able to do it as quickly as we can now. And this solution is so simple, we can put it in the hands of the real estate agent, mortgage broker, loan officer, or even an office assistant.
Recently we introduced a new technology platform that puts all the solutions and tools that we’ve been using for years into one place allowing for faster, simpler, and more transparent credit score building for consumers. Any real estate or mortgage professional can use this platform to assist prospective homebuyers increase credit scores faster. Sometimes in as little as 45 days.
Credit Score Building Features
- Clients can instantly see their credit reports and credit scores from all 3 credit bureaus
- Real-time reporting when a derogatory item is removed from a credit report
- Real-time reporting when a credit score changes
- Immediate disputing of derogatory items with all 3 credit bureaus
- Reporting utility bills such as power, water, cable, and cell phone
- For current renters, reporting up to 24 months of past rental payments
- Soon, a secured loan program that will report to all 3 credit bureaus
- Budgeting tool and guidance on paying down outstanding debt
I should mention something that most people are not aware of. Reporting new positive accounts will raise credit scores faster and higher than removing derogatory accounts in most cases. In fact, we have seen that by reporting rent payments, clients' scores increase by up to 50 points as quickly as 45 days.
This platform not only provides prospective homebuyers with the tools necessary to take the steps described above it also educates them about the impact of opening new credit accounts, closing old credit accounts, and what they can do to improve their debt-to-income.
Who is a Good Candidate for This Platform?
- First-time home buyers that need a boost in their score to qualify for a lower rate or qualify at all
- People that have little or no credit history
- People that have had mishaps and show derogatory accounts on their reports
And the best part is that you can now have this technology at your fingertips. Instead of only sharing the bad news with a client about not being able to qualify, you can give them hope by arming them with a platform that can solve their credit issues quicker than ever before.
You know as well as I do that when homebuyer prospects are told that they don’t have the credit score to qualify, most do nothing about it simply because they don’t know what to do. Therefore, most of the time you never see these people again.
Now you can build your database of homebuyer prospects and create loyalty and appreciation that you didn’t just forget about them. Instead, you can become the reason that they were able to accomplish their goal of buying a home.
Help Homebuyers Increase Credit Scores Faster
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