Arizona Hard Money Loans and You

What to Know About Private Money Lenders Arizona

If you are trying to renovate your home, but you don’t have the credit you need for a traditional bank loan, you can stop worrying. Hard money lender Arizona is all you need to start working on the home of your dreams right away.

If you’re curious, Arizona hard money loans are the best thing out there right now for people hit hard by the economic downfall and who don’t have the credit score of their dreams, but definitely found the property they want to renovate.

This is the ideal situation for a private money lenders Arizona because they base the hard money lender Arizona loan entirely on the value of the house, home, or property that you want to flip, renovate, or fix up.

You no longer need to give out your entire bank history. It is no longer needed with hard money lender Arizona. Now, without any credit, you can have money in your hand and you can start renovations on your home almost immediately.

Hard money Arizona believes that just because you had sour luck in the market, it doesn't mean all your sweet dreams should be completely dashed. With a hard money Arizona loan, you will see that you can still have everything that you wanted- and much faster than your traditional bank loan.

Your research should show you that a hard money lender Arizona loan is a convenient way to spruce up your house or property without the stress and agonizing that one has to do over a traditional loan from the bank where credit scores are checked and paperwork takes forever.

We know that you’ll be happy that as soon as you qualify for your Arizona hard money loan, you are that much closer to becoming the owner of the property you always wanted.

The market hasn't been great for a while, unfortunately. And the people who suffer the most are the contractors who want to make beautiful new homes but can’t because their credit score isn't as good as it should be. That’s when having an Arizona hard money loan would be extremely beneficial. No need to be weary of your credit score. No need to be worried you won’t be approved. Hard Money Lenders Arizona are here for you. Read on to find out more.

For those worried about how the economy ruined their credit score, Private money lenders Arizona is something that can be so helpful. If you have a property that you want fixed up, then this is a fantastic opportunity for you. Hard money lenders Arizona want to start working with you immediately to help you fix up the property you've had your eye on.

Be aware, however, that these Arizona hard money loans are not grants- and by that we mean, you do have to pay them back. They are more expensive than traditional loans, but Granted, an Arizona hard money loan is so much quicker than trying to get your hands on a traditional loan from the bank that you may not even qualify for. Arizona hard money loans don’t take as long as the traditional bank loan which means that you’re sure to start updating your brand new property in no time. You can go from dreaming about your new home to having your dream home so much faster.

Don’t worry about your credit score and don’t worry about the paper work. Save that for the bank. With hard money lender Arizona, we do all the hard stuff for you so you can get back to doing what you really want to do- rehabbing your home!

Arizona Hard Money Arizona Mortgage Broker

Dennis Dahlberg
Broker/RI/CEO/MLO
Setabay Home Mortgages
Tel:  (623) 582-4444 | Fax: (888) 279-6917
www.setabay.com
NMLS 1057378 | AZMB 0923961 | MLO 1057378
23335 N 18th Drive Suite 120
Phoenix AZ 85027

What’s The Deal with Hard Money Loans?: All About Private Money Lenders

What’s The Deal with Hard Money Loans? All About Private Money Lenders

If you want to flip your home or simply rehab your home to be the dream house you always wanted, but you don’t have the credit for a traditional bank loan, it might be time to start looking for another way to get what you want. It might be time to consider new options like an Arizona Hard Money loan.

If you haven’t heard of hard money lenders Arizona, then continue reading, because we think you’re gonna like this: with private money lenders Arizona, you don’t have to worry about your credit score.

Not ever.

That might seem crazy, especially in this day and age with the economic landscape being as it may, but hard money lenders Arizona base your Arizona hard money loan entirely on the value of the property you have. That means that your Arizona hard money loan is not ever based off of the credit you may or may not have.

Seriously.

That’s something to get excited about. If you thought you couldn’t do what you wanted because the economy took a nose dive the same time as your credit, then start to think again about the changes you want to make because hard money lender Arizona wants to help you get the fastest loan you can get so you can start working on what you want faster.

While it is true that Arizona hard money loans are more expensive than your traditional loan, you have to think about why this might be so; the whole loan is faster than your traditional bank loan and just about as quickly as you are able to qualify, you've got the paperwork done and you’ll have the cash right in your hand so you can start working on your dream home sooner rather than later. Get your money from hard money lender Arizona. It will change your whole world.

If you are interested in private money lenders Arizona, it’s important to remember that while they do give you money like a traditional bank loan might have years ago before the economy tanked, hard money lenders Arizona have a different set of rules. For example, hard money lenders Arizona going to be asking for twenty percent of the purchase price of the property. Don’t be surprised, because this is actually really the average. More than likely, you will get 50 to 60 percent of the true property value and you can do so much with that in your rehab construction.

There’s a chance that you have been turned down for a traditional bank loan because of your credit score, but with Arizona hard money loans, you don’t need to worry about that anymore. Arizona hard money loans would be right for you if you’re flipping a house because all of Arizona hard money lenders base their loan values purely on the amount the house, home, or property that you want to flip or fix up is worth. Not your credit score.

No matter what your situation is, we believe that there is a hard money Arizona loan that’s right for them. Private money lenders are much more convenient and truly a great way to get all the money you want and need to flip your home without any of the hassles or worry of your traditional bank loan where you have to wait for an answer that may never come.

In addition to hard money Arizona lenders loaning money based entirely on the value of the home that is being used as collateral, these Arizona hard money loans are also insanely easy to qualify for. Don’t let a traditional bank loan intimidate you! Especially not when you can get an Arizona hard money loan easily.

Arizona Hard Money Arizona Mortgage Broker

Dennis Dahlberg
Broker/RI/CEO/MLO
Setabay
Tel:  (623) 582-4444 | Fax: (888) 279-6917
www.setabay.com
NMLS 1057378 | AZMB 0923961 | MLO 1057378
23335 N 18th Drive Suite 120
Phoenix AZ 85027

Real Estate Fix and Flip Guide Lines - Keys to Success.

Fix and Flip Seminar

Keys to Fix and Flip

If you want to make money, you need a plan. Determine where you are going to invest and what type of property you are going to invest in. There are three types of projects:

1.       Fluff and Puff

You just have to clean it up and to some staging

2.       Spray and Spread

New Paint and Carpet

3.       Rehab remodel

Going to have to get the hammer out and do some major repairs

Determine the profit before you purchase – work backwards.

Sales price less costs is your profit.

Sales Price

   -Purchase Price

   -Repair Holding Costs

  -Other Costs

Net Profit

Repair and Holding Costs

§  Acquisition

·         Purchase Price

·         Back Taxes and other liens

·         HOA Transfer Fees

·         New Keys

·         Bid or Real Estate Fees

·         Closing Escrow Costs

§  Repairs

·         Contractor or do it yourself

·         Appliances – Missing need new

§  Holding

·         Cost of capital to hold                   

·         Payments on loan

·         Utilities – Electric, Gas, Water/Sewer

·         Insurance

·         Maintenance – Keep the grass cut to sell

§  Selling

·         Real Estate Commissions

·         Title closing costs

·         Marketing Plans

§  Administration 

·         Bookkeeping accounting

·         Other non-related expenses

Have a good team

§  Contractors/other to do the work

§  Suppliers

§  Real Estate Agent

§  Hard Money Lenders

§  Insurance agents

Major Keys to Success

v Get a real estate license.

v Have cash money to put into the project.

v Keep your expectations realistic.

v Don’t do a project unless there is a clear profit potential.

v Do your project through an LLC.

v Don’t buy radioactive materials.

A hard money loan can be a vital tool for real estate investors looking to maximize their profits, complete more investment projects and minimize the amount of capital needed to accomplish their investment goals.

Seasoned real estate investors know that using a hard money lender is the faster and easier way to fund a real estate investment project when compared to relying on traditional financiers like banks; and asset-based hard money lenders are much more likely than banks to fund real estate construction projects and fix & flip projects, because bank regulators see construction loans as too risky for their heavily regulated portfolios.

Most hard money lenders make loans at interest rates around 12% and charge anywhere from 3 – 6 points. These higher interest rates often make less experienced investors gun-shy, but the reality is, in a spec home or fix & flip scenario, a short term hard money loan at 12% or even 13% can generate much more profit for the principal investor than an equity partnership in most cases.

Investing in real estate is an art, and there are many tips, tricks and strategies that successful investors employ to get their deals done and cash flowing.

Here are some essentials of investing with a hard money loan:

1. If you want a fast close, you need plans

This happens all the time: An inexperienced investor puts a property under contract to close in 2 weeks. The investor contacts a hard money lender to fund the project knowing that, next to cash, hard money is that fastest way to close a deal, BUT the investor has no plans, no specs and no budget.

Lesson: Without plans, an appraisal can’t be ordered, or even a BPO (Broker Price Opinion). Without an appraisal or BPO, the lender can’t verify the ARV (After Repaired Value) of the project. Without an accurate ARV, the lender can’t make the loan.

2. Don’t lie

It’s common for borrowers to try to make themselves look “more qualified” for a loan than they may actually be – but what borrowers should realize is that hard money lenders are much more concerned with the value of the asset than they are with your personal financial history. Most hard money lenders don’t even check credit scores. However, if you fail to submit the financial information the lender asks for, just because it’s not as pristine as you think it should be, it looks like you are going out of your way to hide something from the lender, which reflects worse on you than subpar financials.

Lesson: The lender wants to make your loan! Be helpful and transparent so that the lender can work with you to resolve any questions in your financial history. Don’t sabotage yourself by lying.

3. Expect to have “skin in the game”

Many hard money lenders market their loans as having the potential to fund an investment at 100% LTC (Loan-To-Cost), meaning a borrower won’t have to put a dime into the project. Although there are some scenarios where this is true, it’s very rare, especially in hot markets like Austin, Houston or Dallas-Fort Worth, where the acquisition of quality investment properties is über competitive.

Lesson: When using a hard money loan, you won’t need to sink a ton of cash into the deal, but be prepared to put some skin in the game for plans, engineering, an appraisal, an underwriting /loan commitment fee and, more than likely, lender points to close the loan.

4. Do your project through an LLC

Limited liability companies, (LLCs) protect their owners and members from liabilities that present themselves during a real estate investment, and have an ideal structure for income tax purposes. LLC owners are only liable for debts of the LLC up to the amount of the member’s investment in the LLC. So if an investor starts an LLC with a $20,000 investment, and the LLC assumes a debt of $200,000 to do fund a real estate project, the LLC’s owner is only liable for $20,000 of the LLC’s obligations. LLCs also subject their members to only one level of income tax on the profits and gains of its ventures. As “pass-through entities” an LLC is not itself subject to income tax – only the members are taxed on the profits and gains from the LLC, based on percentage ownership.

Lesson: Doing business through an LLC limits personal financial liability, and avoids the risk of double taxation on profits and gains.

In the real estate investment world, timing is everything. When the iron is hot, investors need to have the ability to strike and strike fast. With the right preparation, a hard money lender can close a loan in 2 weeks or less, and by following the aforementioned tips, you’ll minimize your time waiting for funding and maximize your profit potential.

ArizonaHard Money Arizona Mortgage Broker

Dennis Dahlberg
Broker/RI/CEO/MLO
Setabay
Tel:  (623) 582-4444 | Fax: (888) 279-6917
www.setabay.com
NMLS 1057378 | AZMB 0923961 | MLO 1057378
23335 N 18th Drive Suite 120
Phoenix AZ 85027

What is the deal with the USDA Home Loans Arizona? Whats going on. Get one baby!

It is a big deal coming your way no joking here buddy pants! 

A USDA Home Loans Arizona is an awesome way to get the home you want without a lot of the extra burdens of a mortgage or another type of loan. What is so great about it? I will give you three of the top best things about a USDA Home Loans Arizona.

Number one definitely has to be the 100% financing. That means it will cover the entire cost of your home. And that also means no down payment! Holy cow is that a great deal! No waiting until you can have a big sum of money to put down, you can get your house now and start then!

The second greatest thing about the USDA Home Loans Arizona has to be the low interest rates. And when I say low I mean less than half what the average interest rate is. And that low interest rate? It is fixed! No changes, no surprises! You see what you are getting at the beginning.

The third best thing would most definitely have to be the no maximum amount! If you find the right house, there is no squandering over the amount of the loan! Get it baby!

Can the USDA Home Loans Arizona be my deal?

If you are picking up what I am putting down, then my friend, I am sure you want to hear more! Along with those three great things, there are two necessary things you need to know.

To Qualify for a USDA Home Loans Arizona, you need to be looking at houses in the right location. The USDA tells you what is going on there and where you can get your home. There are many counties available so check it out!

Another thing is income. You cannot make too much or too little here. This is a loan marketed toward lower income people. But if you are in the right income level than you are eligible for a USDA Home Loans Arizona!

How do I go about getting a USDA Home Loans Arizona?

If you are interested in getting a USDA Home Loans Arizona then you probably are wondering where you should go and what you need to do to qualify and get you on the road to home ownership or home improvement! There are 60 Farm Service agency employees located in ten offices throughout the state that are at your service. They will give you the teeny tiny details that are super important but I can give you an overview here.

This may seem like an unconventional loan (because lets be serious when we hear the words United States Department of Agriculture we think beef, pork, chicken…yum) but the United States Department of Agriculture is not shifting their interests solely to banking. Rather, the USDA Home Loans Arizona is a government insured loan, meaning that the government will make sure the banks don’t lose money. It is referred to as the USDA Rural Development loan. The reason it exists is to provide low-cost mortgages in small town communities and rural areas. These loans are available to farmers and home buyers. You don’t have to harvest grain or own cows to benefit from this USDA Home Loans Arizona!

What is so cool about the USDA Home Loans Arizona?

So on to the best parts of this magnificent USDA Home Loans Arizona opportunity! You can get 100% financing which means absolutely no down payment! The USDA Home Loans Arizona is also a great option because it has fixed, low interest rates. I am talking some of the lowest rates in the country. And there is no maximum amount! You can theoretically get as much as you want! All of that is based on your income and credit score of course. But doesn't the USDAHome Loans Arizona sound like a great option? 

What kind of properties can I buy with a USDA Home Loans Arizona?

You may be interested in buying property and have heard some interesting things about a USDA Home Loans Arizona. 

Perhaps you are intrigued by the 100% 

financing with no down payment! 

And how sometimes you can even roll that into guaranteed 2% USDA fee into the loan as well. And you probably like the idea of low, fixed interest rates. But now you are wondering what kind of properties can I buy with a USDA Home Loan Arizona.

First of all it has to be in a rural area. The United States Department of Agriculture Loan for Rural Development is for exactly what it says—rural development. The United States Department of Agriculture wants to make rural areas more affordable to live in and better for the communities. You will need to find an eligible home in an eligible area. It also must be a house for a family. That means no investment properties. 

The USDA wants people living in homes, the entire reason behind the USDA Home Loans Arizona.

Who can get a USDA Home Loan Arizona?

The USDA Home Loan Arizona is a perfect fit for people who need it! This loan is given to people through the United States Department of Agriculture to help those with low incomes be able to purchase homes at a more affordable cost in rural areas. And if you are wondering “Well I don’t really want a house in a rural area” just rethink the word rural. You would be surprised what the United States Department of Agriculture defines rural. Lots of people can qualify for a USDA Home Loan Arizona in the place that they are hoping for!

So if you have an income that does not go over 115% of the county’s median income level and want to buy a home in a rural development then the USDA Home Loans Arizona is perfect for you!

What is a USDA Home Mortgage?

A USDA Home Mortgage Arizona is essentially a mortgage Mortgage, but offered mainly to those who own, or want to buy, rural property. This Mortgage’s purpose is to provide Mortgages and grants to those who want to buy a home in a rural area, but it can be for very low income homeowners in order that they may make repairs, improvements and to modernize. It is also to make sure that their homes are comfortable and modern so that there are no health or safety hazards. You also must meet the income limit restrictions in the county you reside in and the property must also be in a rural area as defined by the USDA It is offered by the United States Department of Agriculture. It is not the typical mortgage in that USDA Home Mortgage Arizona requires no down payment, and may be financed up to one hundred percent of the property value.

If that sounds good let me tell you more about USDA Home Mortgage Arizona!

The USDA Home Mortgages Arizona is really a no money down option, and one of the last on the market. The United States Department of Agriculture is the backer for this particular Mortgage as you could guess by having the USDA in front of it. These Mortgages offer 100% financing. This means no down payment! You can also have a flexible credit guideline. This Mortgage also has fixed rates. Fixed rates! No surprises for you down the road. There is no maximum Mortgage amount. New and existing homes are eligible as well!

USDA Home Mortgages Arizona are a great way to affordably realize their dream of home ownership! If you are interested check out the availability of USDA Home Mortgages Arizona in your area! There is no better time to reach out for your dream of owning a home than right now with a USDA Home Mortgages Arizona!

Dennis Dahlberg

Broker/RI/CEO/MLO

Level 4 Funding LLC

Tel:  (623) 582-4444 | Fax: (888) 279-6917

www.Level4Funding.com

NMLS 1057378 | AZMB 0923961 | MLO 1057378

23335 N 18th Drive Suite 120

Phoenix AZ 85027

Videos Links

News and Videos on Arizona Home Loan Servicing and Arizona Home Mortgages.

For Videos and News on Hard Money Arizona Private Arizona Money  go to www.joandidit.com

For Important Videos on investing in Arizona Deeds of Trust  www.westwingaz.com

Hard Money Rates and Information for Arizona  www.dennisazhomes.com

Step by Step Help on Investing in Deeds of Trust Videos and Information for Arizona  www.theboxsupply.com

News and Videos on Arizona Home Loan Service and Arizona Home Mortgages  www.setabayloan.com

Having trouble getting a Quicken Home Mortgage..well don't blame me!

Your Money Lender Wants to Talk Ariozna Home Mortgage Arizona

A lot has happened with the economy in the past couple years and because of that, many people don’t have the credit that they used to. This is now affecting things like buying cars and buying homes. Do you need an Arizona Home Mortgage? Have you been thinking about it but you aren't sure how to get it done? Are you wondering if there’s a way to finance things without going through a bank? We are here to announce that there is a way.

You can get a home in the 21st century if you go through some non-traditional financing using some unconventional techniques. This sounds tricky, but let us assure you it isn't. It just means that instead of going the traditional route and trying to get money from a bank that doesn't want to give it to you, you can get your money from a private lender who wants to finance you without seeing your credit score.

If you didn't think that was possible, think again. It is. You can have the money you want for your Arizona Home Mortgage and do it without going to a single bank. You just have to find a money lender in the private sector who can give it to you. No matter what kind of home you want, from a single family ranch style home to a condo or even a town home, there is a way to get that Arizona Home Mortgage that can get you the house you've always wanted without making you jump through hoops for the bank.

Get your Arizona Home Mortgage and get the security you need to make a payment towards the house of your dreams! You can do it! You can get your Arizona Home Mortgage today.

Dennis Dahlberg
Broker/RI/CEO/MLO
Level 4 Funding LLC
Tel:  (623) 582-4444 | Fax: (888) 279-6917
www.setabay.com
NMLS 1057378 | AZMB 0923961 | MLO 1057378
23335 N 18th Drive Suite 120
Phoenix AZ 85027

Don't think that this means you're not doing well

Let’s Talk Arizona Home Mortgage

A home in this day and age almost always needs financing. Not many people in the world can outright buy a house or even a car for that matter. It’s time to start thinking about the future. Even if you have bad credit, there is a way to get the home you want and need for your family and that’s through a hard money lender who can get you a home Mortgage Arizona. Mostly, you know you have to think about what you really want get the house of your dreams instead of waiting around for it to happen! You need a hard money lender sometimes to make dreams come true. So it’s probably best you start looking out for a house you love and researching the kind of private money lenders who want to give you the money you need for a house you love in the form of a home mortgage Arizona.

 Don’t think that this means you’re not doing well. On the contrary it means you are doing something about your position in life.

 Sometimes people need a boost and that’s what a hard money lender is going to do for you. They want to help you finance a home you really love so you can get the home mortgage Arizona  that’s going to land you the house you've wanted for quite some time now. That home can be a single family residence or even just a condo or town home. It doesn't matter as long as you love it. This is something that’s just for you and the hard money lender is going to help you get it done when they give you a home Mortgage Arizona. Don’t hesitate to make things start happening today. Your lender is waiting for you to call.

Dennis Dahlberg
Broker/RI/CEO/MLO
www.setabay.com
Tel:  (623) 582-4444 | Fax: (888) 279-6917
NMLS 1057378 | AZMB 0923961 | MLO 1057378
23335 N 18th Drive Suite 120
Phoenix AZ 85027

Can a Arizona mortgage broker lie to me and screw me?

Getting a Good Faith Estimate From Your Arizona Mortgage Broker

First, you might be wondering what a good faith estimate is. Sometimes, in the real estate world, this is referred to as a GFE, and is simply a quick form that provides you with the information about the terms of the specified mortgage Mortgage you applied for and how much the Mortgage will cost you to acquire. After you have submitted your Mortgage application, your Arizona mortgage broker will provide you with a GFE within three business days. You will not be charged any fees until you have received the GFE from your Arizona mortgage broker.

If the lender denies your application for a mortgage, your broker will not provide you with a good faith estimate. At that time, if the lender doesn't tell you on their own, you have 60 days to request a reasoning as to why your Mortgage was denied.

Does a GFE Require Me to Take on a Mortgage?

No! A GFE is just a formality. After your Arizona mortgage broker provides you with a GFE and explains the terms and conditions to you, you are absolutely not obligated to take the Mortgage. (Though most people do—that’s why they applied in the first place.) It also doesn't commit the lender to give you the Mortgage. It’s just an explanation that helps you compare Mortgages side by side and explain how the Mortgage works and the terms and conditions involved.

Your Arizona mortgage broker may provide you with a few different GFEs and that’s ok. They will help you compare these things side by side so that you get the absolute best and most affordable deal possible.

Dennis Dahlberg

Broker/RI/CEO/MLO

Level 4 Funding LLC

Tel:  (623) 582-4444 | Fax: (888) 279-6917

www.setabay.com

NMLS 1057378 | AZMB 0923961 | MLO 1057378

23335 N 18th Drive Suite 120

Phoenix AZ 85027

Did you get the shaft from a Home Mortgage from a Bank?

Buy Your Home with an Arizona Home Mortgage

Are you looking for a way to buy your home but you’re not even sure if that’s possible right now? We are here to tell you that it is most certainly possible because you can get yourself the Arizona Home Mortgage  you need from a private lender.

Many people are worried about banks and for good reason. Banks are making it difficult for people to get the funding they need for the houses they want to buy. Why? Because when the economy tanked, so did a lot of people’s credit scores. Banks no longer want to give out money for buying homes if your score is under their preferred number. That’s when it becomes time for the home Mortgage Arizona from your private lender.

Don’t think twice about not going to the bank for a Home Mortgage.

 It’s a whole different world out there now and you shouldn't feel like it’s necessary to get a Mortgage at a bank just because that’s how your parents did it. It turns out it can be easier to get a Mortgage from a hard money lender because they want to see you succeed  and get the house that you've been thinking about all this time. No matter what kind of home, you know you deserve it. So show us those town homes! Show us those condos or even those single family ranch style homes or two story Tudor style homes- your Arizona Home Mortgage will take care of everything and get you on the right track.

The time is now to get things moving so go ahead and talk to your Arizona private lender today about your Arizona home Mortgage. You can still have everything you wanted. No questions asked and no credit score even needed. Talk to a private money lender today and get your Arizona home Mortgage tomorrow.

Dennis Dahlberg
Broker/RI/CEO/MLO
Level 4 Funding LLC
Tel:  (623) 582-4444 | Fax: (888) 279-6917
www.setabay.com
NMLS 1057378 | AZMB 0923961 | MLO 1057378
23335 N 18th Drive Suite 120
Phoenix AZ 85027

Steps to How do you Fix Your Credit Score and get your Arizona Home Mortgage.

 How do you Fix Your Credit Score? Get your Arizona Home Mortgage.

You want that Arizona Home Mortgage to purchase our dream home but your credit score is low. Your credit score is an indication of what the industry calls your willingness and ability to pay debt.  It’s a probability ranking score on the possibility of you defaulting on an Arizona Home Mortgage payment obligation in the next 90 days.  Some people like to think of it as a credit score grade on your payment performance.  The lender will look at your overall grade and see if you are willing and able to pay the debt.  If you have a failing credit grade (an F), then the lender will assume that you are going to fail again and not pay them back.  It’s an overall Grade Point Average on how

you passed or failed on prior Mortgage obligations.  If you got an F on an Arizona Home Mortgage in the past your Grade Point Average is going to go down.  Think of it as when you were in school.  Every year the school would give you a Grade Point Average for the year’s work.  Some people got a very high Grade Point Average (all A’s) and were the smart kids in school, while others got a few D’s and F’s on their report card and had a lower Grade Point Average for the year.  This school of credit never ends in your life and you want to have the highest credit score Grade Point Average as possible, and keep it up through your life.   So what do you do to get a high credit score Grade Point Average?  You do the same thing that you did in school.  That is:

1.    Take the Test over again and get a better grade.  How do you do this?  You pay back the people you owe money to.  Those items in collection or past due need to be paid off and settled.  The grade on your past due Mortgage is currently an F, but you can make it a C+ if you pay off the debt.

2.    Don’t get any more F’s on your work.  This means that you pay the Mortgages back and on time.  You need to take it seriously, and make the payments and don’t be late.  Remember when you turned work in late in school and the teacher deducted points for the work because you were late?  It’s the same in the credit school; don’t be late on your work.  Also, what type of grade were you given when you did not turn in the work at all?  You would get an F.  This is the same with paying Mortgages, when you DON’T PAY then you get an F and your overall credit score Grade Point Average goes way down. Pay your Mortgages on time and full will give you the best Grade Point Average.

3.    Don’t take on too may classes.  If you take a safe load of classes, then your work load is easier and you can probably get an A in every class.  But if you take on too many classes, you will not be able to get all the work done for all the classes.  This is the same in the credit world.  Don’t take on too many Mortgages and keep the balance owed on the Mortgage to around 30% of your available balance.  The lender will look at your Mortgage load (class load) and think are you never going to get the work done?  You have maxed out all of your credit cards and want another one? The more Mortgages you take on (sign up for) the higher the chance that you are going to fail on one of them and possibly the Mortgage you are now trying to get is the one you will fail on

4.    Get that bad score off your report.  Usually the quickest way to get a bad grade off your report is to dispute the score (Whine to the teacher). Tell the credit bureaus that it’s not your grade or that the grader who graded the test was wrong, or that they used the wrong pencil or that they used the wrong answer sheet to grade your work.  If you can get an F off your report card, your overall score and Grade Point Average will go up.  This is usually the first thing you can do to get a better Grade Point Average.  You do this by disputing the items on your credit report for each of the credit bureaus.  If they believe you and you are able to get the score off your credit report your Grade Point Average will go up.  If credit bureaus don’t believe you, then work on step 1-3 above.

The good part about the credit score Grade Point Average is it is an Average.  It’s calculated over time and time is your friend when you calculate the Grade Point Average.  Your overall score is based on the current work and the work you have done in the past, but usually it’s for the last 3-5 years and if you have an F on your credit score report card, it will drop off in a few years. So if you keep your grades up, in a couple of years your credit score Grade Point Average starts to improve and eventually you will have all A’s and you can qualify for the Arizona Home Mortgage.

SO YOU HAVE BAD CREDIT AND WANT AN ARIZONA HOME MORTGAGE? WHAT ARE THE EXACT STEPS?

I recommended that you read the book Credit Bible - Everything You'll Ever Want To Know About Credit by Phil Turner.  This is a detailed book on the steps and mistakes you can do to fix your credit score. 

Dennis Dahlberg

Broker/RI/CEO/MLO

Setabay Home Mortgage

Level 4 Funding LLC

Tel:  (623) 582-4444 | Fax: (888) 279-6917

www.Setabay.com

NMLS 1057378 | AZMB 0923961 | MLO 1057378

23335 N 18th Drive Suite 120

Phoenix AZ 85027