subject: Credit Repair Chicago Buying Property [print this page] Buying Property is a sound investment, especially if you do it right now. The economy has caused a major problem in the real estate industry. Properties that were worth over $300,000 just five years ago can now be purchased for a third of that price or even less. Interest rates are low, sellers are desperate, and banks just want to unload houses. It is truly a great time to buy a property if you have the three main things a bank or lender will require and demand you to have.
The first thing is the only one that you do not have to have to get approval but you need it anyway, and that is a good credit score. A bad score can cause a lot of problems for you when trying to get a loan, even if you are approved it will cost you thousands of dollars a year, a real waste of money. To fix your score quickly you need to use credit repair Chicago.
The other things you need to have in order to get approved on a loan application from a lender are a hefty deposit, and established income. The lender will require you to have at least a 20% deposit of the purchase price which even with a cheap house of $150,000, is still $30,000, not to mention you will need money to cover moving expenses and closing costs. The established income will prove that you can easily afford the monthly mortgage payments. You need to earn about three times what your monthly bill would be in order to be taken seriously.
A good credit score will allow you to pay less of a deposit and it will drop the monthly payments by hundreds of dollars. To get a good score you can use credit repair Chicago rather than traditional methods which take months and even years. Credit repair Chicago is the fastest and most effective way to fix your score and it can help you not only get approved on a loan application, it can save you thousands of dollars a year.
