The experts at Valley Mortgage know the world of home finance can be complicated, confusing and costly. Luckily, they have been in the mortgage game for years. They can be your guide and answer all your questions…and educate you on the questions you should be asking.
Angie Searls & Kristin Sevald join It Takes 2 to give some expert advice on credit scores & down payments.
Credit & Your Mortgage
Misconception: You have to have a 740 credit score
While a score of 620 or higher is good, there are options for those with a lower credit score! Every situation is different and the experts at Valley Mortgage are happy to help you – no matter your credit score! In fact, they can give you advice on how to raise your credit score, as well.
If you’re married… whose credit score do you use?
Valley Mortgage says, they actually look at both credit profiles. They drop the high scores and drop the low scores to get the middle score of both borrowers, and they will use the lowest of the two middle scores.
Don’t believe everything you see online!
If you have checked your credit score online, those numbers may not be completely accurate. Valley Mortgage says their scoring models may be a little different. So, it’s worth your time to sit down with someone.
And, those mortgage calculators? Those aren’t accurate either!
Down Payment
Misconception: You have to have 20%
There are multiple programs. Some programs allow you to get into a home with NO down payment.
Every situation is different, and don’t be discouraged if you don’t have 20% saved!
Valley Mortgage
ADDITIONAL CONTENT:
Other content you might like:
Make Cents of Your Mortgage – Refinancing Now vs. Later
Mr. Fix It with Tim Noteboom – Snow Around Foundations, Roof Raking and Frozen Doors
(Amy Iler & JJ Gordon are talk-show hosts at 790 AM KFGO in Fargo-Moorhead. “It Takes 2 with Amy & JJ” can be heard weekdays 11am-2pm. Check out the show page on
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