This week we have great news for our buyers who may not have initially qualified for a home loan. Recently, there have been four changes put into effect that will no longer count against your credit score. So even if you've talked with a lender in the last six months to a year, we highly recommend talking with them again to see if these changes have positively impacted your score.

1. Collections that are not at least 180 days old will be rejected by all three of the major credit bureaus. This will allow you more time to pay them off before they are reported.
2. Medical collections will no longer show as long as they are being paid whether it's by you or by your insurance company.
3. Collections that have not been updated in the last six months will no longer be a factor.
4. If you do not have an agreement with a contractor and are sent to collections it will not longer show on your report. 

These changes will now allow those of you who thought you couldn't qualify for a loan to now be able to do so! So call us at 719.822.1MOM and we will not only help you buy your dream house but also set you up with an awesome lender to help you get approved for your loan!

Tip of the Week: If you're looking to buy now is the time to talk to a lender. Even if you met with one last year call them up and see how these credit rule changes will impact your credit score. These changes could be benefitting you!

Tune in next week when we go over the top three reasons why sellers should be looking at VA offers over FHA or conventional loan offers.