We have many solutions.

People with imperfect credit do buy houses. If others can do it, so can you. The mission of AAARMSI is to be a guide to help more people enjoy home ownership, and to do so in the fastest and least expensive way possible.

The problem for many people with credit flaws is that they apply with company after company after company only to be turned down over and over. Finally, they may be offered a terribly expensive loan with a ridiculous interest rate. Not only is this a waste of time, but it is emotionally exhausting and disappointing. In fact, it can be downright depressing. AAARMSI is here to stop all of that and to help you get a home of your own.

We’re Here to Help

AAARMSI has a mission to help people of all credit types buy a home and avoid being overcharged in their financing.

If you do not have beautiful credit and you are trying to get a loan approval by searching all over the Internet, you are like a person trying to pass a driving test with a blindfold on. Or a football team trying to win with no game strategy. Or a beginning cook trying to bake a soufflé with no recipe. It doesn't work! If you want to succeed, you must have two things: knowledge and a plan. Without knowledge and a good, working plan, you are setting yourself up for an unhappy experience. To acquire knowledge, read on:

Knowledge

If you want to get approved for a loan, you must think like the Lender. You must understand what the Lender wants and then provide exactly that. It is not hard at all when you understand what the Lender wants. The truth is that Lenders do want to lend people money. Lending money is how they make money, and if they don't have anyone to lend to, they don't make any money, and then they go out of business. Like everyone else, Lenders want to make a lot of money, and to do that, they must have a lot of customers. So then, Lenders want as many customers to lend money to as they can get. In recent years, giving home loans to people with damaged credit has become a huge, successful business. The majority of people who had credit problems in the past due to unfortunate circumstances--like medical problems, job loss, divorce, or just being financially unwise--do go on to establish good credit, and they pay back a mortgage on time. Lenders want these people as customers. That includes you!

However, just like you and me, Lenders do not want to lose money. They do not want to get burned by making loans to people who won't pay them back. If that happens too often, they become Big Time Losers and go out of business. So to prevent that from happening, they make up all sorts of rules and cement them in stone. If you follow the rules, you will get your loan. If you don't, you won't. It's that simple. Some of the rules are a little silly, but you have to follow them anyway. One of the rules is that you can get an exception to the rules, if you go about it in the right way. That is a good rule to know!

The tricky part is that no one tells you what all these rules are, or what the exceptions are, or how to go about getting those exceptions. Until now! Now you are going to be able to learn and understand it all. You can get the "inside scoop" from people who are the experts at getting loan approvals for people with slightly imperfect to downright awful credit.

Do You Know These Eight Things?

What you must know to get approved for a home loan:

1. Do you fully understand the new credit scoring system? The first thing a Lender does is to classify your credit. This is based on your numeric credit score. You need to know how the numbers are calculated and how to get a higher number if you want to get a cheaper loan.
2. Do you know how to remove damaging information from a credit report quickly and legally? It is your right under the Fair Credit Reporting Act to get false information off your report. Many people have old delinquencies that were taken care of long ago, still showing on their report.
3. Do you know the best way to handle emergency and unfortunate situations? Things happen which are out of our control--illness, accidents, divorce, etc. However, if you handle your credit and finances in the best possible way, you can protect rather than demolish your credit. This you do have control over. Are you confident you know how to handle this in the very best way?
4. Do you know the employment/income rules? Many people who don't think they have enough money to get a home loan actually do. One woman was waiting years unnecessarily because she didn't know she could buy a house when she was on social security income. Meanwhile, the prices of houses kept going up and up. Another instance is that you need to know how to present your employment in the way that is acceptable to the Lenders. If you have had several job changes or self-employed income, this is especially important. The difference between saying the right thing and the wrong thing is the different between getting approved and denied. Do it right the first time and save yourself time and frustration.
5. Do you understand Compensating Factors? If you have some pretty poor credit to overcome in order to buy a home, the best trick to know is Compensating Factors. In other words, make up for it in some other way. Lenders will allow and will accept this. It is definitely worth taking the time to learn about the rules of Compensating Factors.
6. Do you know the down payment requirements? This is basic. Everyone needs to know this.
7. Do you know about special loan programs? Wow, this is a big one! There are special loan programs designed specifically for people who do not have good credit. If you are applying for the loans for people with good credit and with the companies who lend only to people with good credit, it is no wonder that you are being denied. People with imperfect credit are in the majority of the population, and they absolutely must become informed about the special loan programs designed for them.
8. Can you make an excellent presentation? If you tell a loan officer why your credit was bad in the past, and you tell it in a way that the underwriting department (approval department) does not like, you will get laughed at and denied. They may not laugh in your face, but they do laugh right out loud, and then your loan officer calls you and tells you sweetly and kindly that she is so sorry but you are not approved at this time. It is all in the presentation you make! Present your situation is a different light and receive an approval! You need to learn how to do this, and that is the truth.

How many times did you answer "Yes"? If you are like the great majority, you need more information!

Call us here at AAARMSI and we will step you through the process of home ownership. 1-866-747-4226