Struggling to meet mortgage requirements? We'll help you take the steps necessary to become a qualified and trusted buyer.
Our Mortgage Guide gives you
Home product education
guide to the loan product that best fits your needs--everything from government insured loans to down payment assistance.
Identify non-credit factors
that lenders are typically looking for. While credit allows you to start the conversation, applying for a loan requires more than a 'good' FICO score.
Fast-track your application
while you're working to qualify, start compiling the documentation you will need to speak with our lenders.
Mortgage qualification statistics
90% of mortgages purchased are by buyers with a credit score of 650 or higher.
A majority of lenders cap debt-to-income ratios at 36% of a borrowers income.
Most young first-time buyers put down 8%, which is a reasonable number to shoot for.
The CIG Mortgage Guide
Very often people fail to get into their own home because they meet obstacles as they try to accomplish the many different steps of the home buying process. When you sign up for CIG's platinum services your Credit Specialist will use the Mortgage Ready guide to help you navigate through each step, and when you come upon an issue, learn what it will take to solve the problem and get you right back on track. This will ensure that it's not a matter of "if" you can get into a home, but simply a matter of "when".
Your credit specialist will email you a link to complete your CIG Questionnaire. This might be when your scores hit a certain threshold, or while you are working to get your credit to the right point. By completing this short form we will know more about what items we will need to work on in addition to your credit scores.
If your response to this form meets all of our milestones, your file will be submitted to a credit audit. This will help us identify anything obvious that could get in the way of the loan process. Once the credit audit is complete, we will take any items that need attention and notify your credit specialist. This will allow them to continue to adjust our approach.
If the credit audit is returned with no concerning items or if we correct the credit audit items that were identified, then it's time to get your file out of the dispute process. It's imperative that you do not apply for a mortgage loan while you have disputes pending on your reports. We will work with you closely so that our timing is perfect. As soon as you are out of dispute which can take anywhere from 2 to 6 weeks we will connect you with a lender who can review all of your qualifying information and help us create a plan of attack.
Work with a Preferred Lender
Once we have accomplished the items set out by the lender, or if the lender identified no further issues with your qualification, then they will work with you to issue a pre-approval! In order to issue a pre-approval they will need to take an application, pull your credit, and may even request income documentation like W2's, paystubs, benefits letters, etc.
Meet our Real Estate Agent
If the lender is able to issue a pre-approval, it's time for us to introduce you to one of our real estate partners in our network. They will help you find a home, make an offer, and get it under contract. They will work closely with CIG and your Lender until they hand you the keys to your very own home!
With a pre-approval in hand, a purchase contract underway, it's time to complete and finalize your loan. You will be asked for documentation to verify all information in your application. This will include but is not limited to photo ID, social security cards, authorization forms to view your information, etc. You'll work closely with your Loan Officer or Coordinator during this process to fulfill all of the requirements of the loan. They will let you know about any closing costs, or cash due at closing. When everything is complete you will get the "clear to close"!
The closing process is the final step! You will meet with a notary and sign the final paperwork as well as pay any closing costs or down payment that might be due to close. CIG will make arrangements to get some photos so we can add you to our wall of homeownership!
Remember that getting a mortgage and purchasing your own home is a difficult process. Everything worthwhile in this life comes at the expense of hard work and focus. If you will work closely with your credit specialist and never give up, we will get you across the finish line. The power of having someone in your corner that knows how to get this done, means your big financial goals are at your fingertips!
Get real credit repair results
Own Your Home
Faster Credit Approval
A Healthy Credit Profile
Lower Interest Rates
Mortgage loan approval varies from lender to lender. However the average credit score for mortgage loan approval is 650 or higher.
There are many ways to improve your credit score however the best ways include making your payments on time and paying off outstanding debt.
This can be a tricky question because there’s no way to predict how long it will take because every credit situation is different. That being said, we typically see this process take around 6 months for the best results.
Depending on the item and your credit profile, a single negative mark on your credit could decrease your score by over 100 points.
See how we can help you
improve your credit
Having good credit opens the door to achieving our financial dreams. We help our members develop a strong credit profile so that they can do just that. What are you waiting for?