Bond Construction
Bond Construction
Most traditional mortgage loans require some type of established credit history with a satisfactory record of paying your bills on time. This can leave those with less than desirable credit feeling as if they have no options when it comes to mortgage financing. However, these days there are different mortgage programs available for those who have little or no established credit history or for those with damaged credit. Your lender can assess your situation and advise you of the options that are available to you.
A credit report documents your financial behavior over the past seven to ten years. It utilizes your credit information that is collected and organized by the credit bureau.
Credit reports contain the following information:
A credit report also contains a credit score, which is a numeric ranking between 300 and 850. This ranking is used by lenders to help decide if an applicant is creditworthy and predict if they will repay the loan.
Credit scores are calculated using five sources:
There are three major credit reporting companies, Experian, Equifax, and Trans Union, where you can request a copy of your credit report. It is a good idea to obtain copies from all three companies to ensure there are no mistakes and since any one of these (or all) could be providing a report to your lender. Once you get your credit report, be sure to verify its accuracy.
Contact the reporting agencies at the numbers listed below for more information and to request a copy of your credit report.
*All information provided on this site is deemed reliable but is not guaranteed and should be independently verified. Bond Construction and/or their affiliates can not be held liable for typographical errors, layout error, or misinformation contained herein.
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