Prospective homebuyers across the country now have access to a new service helping them receive approval for a mortgage. Take Charge America, Inc., a national nonprofit credit counseling and debt management agency headquartered in Phoenix, now offers Home Ready Counseling, a program specifically designed to address the top approval requirements for a home loan.
“With low mortgage interest rates and a recovering housing market, many consumers are taking steps to enter or re-enter the housing market, but lack the knowledge they need to get approved for a loan,” said Mike Sullivan, director of education for Take Charge America. “What’s more, people who have been turned down in the past may not know how to rebuild their credit and improve their chances of approval the next time around.”
With Home Ready Counseling, Take Charge America’s certified counselors provide one-on-one counseling sessions addressing mortgage requirements including down payments and debt-to-income ratio. In addition, counselors analyze credit scores and develop personalized action plans to help potential homebuyers rebuild their credit and meet home buying goals. Plans include:
• Custom overview of positive and negative factors impacting their credit scores
• Potential opportunities to increase point values with each of the three credit bureaus
• Detailed instructions on how to proceed with creditor disputes or issues
• A task timeline aligned with the customer’s home buying goals
Consumers enrolled in Home Ready Counseling also receive access to monthly educational emails and Take Charge America’s online homebuyer education course, which teaches them the terms used in the home-buying process, how loans are obtained, documents needed to close a mortgage, and how to avoid predatory lenders.
Visit Home Ready Counseling or call (866) 260-6751 to learn more about the service.