Buying a Home Using FHA Financing? Careful with Disputing Items on Your Credit Report!

Talking with one of my absolute favorite loan officers, Kelly Waugh with Fairway Mortgage, recently she mentioned this and wanted to share:

When buying a home, especially if you’re using FHA financing….disputed items on your credit report can hurt you!

Kelly explained if a borrowers credit report comes back with disputed items on it, there can be serious problems that directly affect ability to qualify for a loan, including failure to qualify. If you’re in the process of buying a home, obviously that would be very bad!!!

As I tell all of my home buyers – when in the home buying process, NO large purchases, NO employment changes. Ever. And when it comes to things on your credit report, while you’re in the process of buying a home, that is NOT the time to change/dispute anything.

If you’re planning to buy a home, it’s essential to have a quality loan officer on your team AND to be open, honest and up front with them and to follow their advice, including what not to do.

Questions or want info right from the loan officer? If you’re planning to buy a home, a trusted loan officer is priceless, contact Kelly Waugh with Fairway for more info on FHA, Conventional or VA home loans.

Should you dispute items on your credit report while in the process of buying a home, as in pre-approved and ready to buy? The quick answer is NO.

 

What questions do you have about the Charlotte NC home buying process? Email me at dmcdermottcharlotte@gmail.com and I’ll be happy to assist!

 

Copyright©2013 by Diane McDermott, All Rights Reserved, “Buying a Home Using FHA Financing? Careful with Disputing Items on Your Credit Report!”

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The content of this blog is the original content of Diane McDermott, NC Residential Real Estate Broker in south Charlotte NC

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About dianemcdermott

Diane is deeply passionate about serving single and divorced women home buyers, first time home buyers and new to the area buyers navigate the Charlotte area home buying process. Having navigated separation and divorce she has immense respect for the stress of transition and need for a home living situation that supports and nurtures. She connects and guides clients as they navigate the home buying process, transitioning to a space they'll love calling home. McDermott Real Estate
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