Credit History A Must
Kathy Sheehan, Active Rain member and friend brings great information on credit history. Yes it's very important and Kathy gives us the facts. Please leave your comments on Kathy's page and make it a great day!
There have been many changes in the underwriting process for a mortgage. If you want to borrow money, you have to prove you have a satisfactory payment history. This applies to applications for a mortgage, car loan, or credit cards.
In the mortgage process, the most important is showing on time payments for your housing. If you rent from an apartment complex, it can be documented with a verification of rent. If you rent from an individual, you must be able to document that payment history, Ideally, payment by check is preferably, at minimum would be by money order. The worst is paying CASH. In some cases cash is king but not when we need to document a housing payment.
If you have been thinking about a home purchase, make sure you can document your rental payment history.
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Kathleen Sheehan
Sr. Mortgage Consultant
NMLS #206275
Georgia Residential Mortgage Licensee #25839
4800 Ashford Dunwoody Rd.
Suite 120
Atlanta, GA30038
678.293.1449 direct770.634.4021 cell
678.587.0249 faxMy Web Page
www.mycsbonline.com
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The opinions and general information in this blog are soley those of Kathy Sheehan. Specifics regarding an individual case should be discussed in detail with a loan professional. All terms and conditions are subject to change.
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505-980-4576 / John@AlbuquerqueHomes.com
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