Home Financing Secrets Revealed
Part One

If you really want to buy that dream home you've spotted, find out what your minimum target "score" for "A" credit should be.

Question: What's your middle score from a tri-merge? You ask, "What the heck is a "credit score" and a "tri-merge?"

You really can achieve the American Dream!

How important is your credit score when shopping for a house?

For Levette Wheeler of Orlando, Florida, a lower credit score temporarily destroyed her dream of owning her own home.

At her darkest moment of house-hunting, Levette discovered the power of a credit score.

And that is not all Levette learned....

Question: What's your middle score from a tri-merge? You ask, "What the heck is a "credit score" and a "tri-merge?"

The term "tri-merge" means that you have pulled your credit report from each of the three top credit bureaus: Equifax, Experian, and Transunion.

You need at least a 620 or better credit score. Without a minimum of 620, a loan officer or mortgage broker will shop among "B" or sub-prime lenders for a mortgage supporting your damaged credit file.

For some lenders, you must achieve a 680+ score in order to meet the "A" lender credit score requirement.

Without a minimum of 620, do you know what that means?

If a lender says "yes" to your request for a home loan, you are going to pay more -- quite a bit more -- for the privilege of getting a mortgage. That's not the worst of it however.

In this lesson, you have learned what a "tri-merge" is; who the Big Three credit bureaus are; and what the minimum middle credit score must be for a loan officer or mortgage broker to search among "A" or "prime" lenders. You know you must shoot for a 620.

In e-lesson 2, you will learn the mysterious formula used to "judge" your new home buying ability.

Please email me with any questions about this or any other e-lesson. If you have suggestions for other real estate or home financing reports, let us know.

Mike Payne, a Realtor with Horizon Realty and a licensed mortgage broker, specializes in providing Rent to own Florida Home || Florida Rent to Own Homes.

To read other FR*EE special reports about buying or selling a home, visit Rent to Own Florida | Florida Lease Options.