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Understanding

your credit

What does your credit report say about you?

What does your credit say about you?

Not knowing what your credit report says about your finances may cost you more when trying to obtain a mortgage. Even those who pay everything on time might have an unaddressed credit issue that is hurting their credit! It is possible for incorrect information to be reported on your credit report, and it is important to identify any issues and correct them before you apply for a mortgage.

What makes up your credit report?

Your credit score is a numerical representation of your trustworthiness in paying back debt. Each bureau will present you with a credit score based on the data they have.

What is reported?

A few of the items reported on your credit may include:

  • Credit Cards
  • Department store cards
  • Gas cards
  • Bank cards
  • Airline cards
  • Installment Loans
  • Mortgage loans
  • Auto loans
  • Student loans
  •  Utilities
  • Rent (sometimes)
  • Collections or judgements
  • Bankruptcies

What does your credit history look like?

Credit history is a record of the health of each reporting credit line. Your credit score is created from the list below.

Payment History

35%

Time Existing

15%

Debt

30%

Account Variety

10%

New Credit

10%

You may be VA Home Loan Eligible if:

  1. You meet the minimum active service requirements (vary by active-duty dates, wartime & peacetime periods).
  2. You are the spouse of an American Veteran and meet the requirements.

To obtain a Certificate Of Eligibility, you must have been discharged under conditions other than dishonorable and meet the service requirements. Our VA home loan Minnesota specialists can help you obtain your Certificate of Eligibility as we go through your VA Home Loan process together.

VA Home Loan Benefits:

  • $0 Downpayment Option - No downpayment is required for a VA Mortgage.
  • Lower Monthly Payments - Competitive rates and no mortgage insurance bring your monthly costs down.
  • Getting Qualified can be Easier - Qualification guidelines are more flexible than traditional mortgage products.
  • Getting Started is Easy - VA home loan specialists are available to step you through the process, NO OBLIGATION.

A VA Mortgage is one of the most popular paths to becoming a homeowner. The cost savings can be substantial - A program designed specifically to benefit the American military.

Working with Refined Lending:

  • Proudly approved to offer VA loans - The Department of Affairs has a strict process required for lending offices offering VA loans.
  • Your Experience - We want you to have a positive experience during this exciting time of your life!
  • Our Processes - Our actual loan processes are easy and efficient.
  • Our Philosophy - It’s simple. You’ve been there for us. Now we want to be there for you.

We are staffed with VA home loan specialists who take pride in making your home purchase as smooth as possible because you deserve it.

VA Home Loan Benefits Include:

Purchase your home with 0% down

That's right! You can purchase or refinance at 100% of the home’s value!

01

No monthly mortgage insurance

VA Loans don’t require mortgage insurance no matter how much deposit you put down!

02

Credit scores as low as 560

This means it's possible you will be approved with less than stellar credit!

03

View Today's Actual VA Rates Instantly!

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