GovHomeLoans Mission Statement
With over 90% of the home loans generated today being backed by the United States government and its entities, there is no shortage of opportunity to find a good fit for most borrower’s needs. The function we wish to perform is to fill in the space that exists today between the banks, or other lending institution, and the borrower who wishes to buy a home and does not know how to begin, or has been denied credit and does not know where to go for answers. It is our belief at GovHomeLoans.org that if the information and help is made available that most anyone with the means and desire can buy a home. Unlike the alternative loan programs that were so readily available in the mid to late 2000’s, the government backed programs are in place to protect both the borrower and the economy. Everyone benefits from responsible lending, the borrower and society on the whole. This is our compensation, raising the number of homeowners in the United States higher in a responsible manner. There is no charge for what we do in helping the borrower.
GovHomeLoans.org has a singular mission to educate consumers about government backed home mortgage loans that exist today, and provide them with the skills and tools necessary to acquire a government backed home loan in a responsible, cost effective manner.
At its principal parts, buying a home is easy. Most people seeking a mortgage have one or most of these parts in place, if not all. Take a look, ask yourself which ones you have.
- Employment / Income. Needs to be documented via tax returns and / or paystubs.
- Manageable debts. You have to have enough money left each month for a house payment.
- Down payment. Can come from savings, a gift, or one of the many government programs that offer assistance.
- Fair to good credit. You have to have a history of credit, and paying most things on time.
Most people have at least one or not two of these, do you? We look at each one individually every day, and help many, many people every month with one or all parts of the 4 items above.
Employment / Income is pretty straightforward. Without this, the bank or lender does not feel you can pay back the loan, so you are disqualified without employment or documented income. We can direct you to some resources to help document income, or find a job, and are happy to do so.
Manageable debts is also easy to look at and can be easy to conquer if there is a concern. The fact is, the bank or lender has to see you can comfortably pay back the loan. We will talk to you about exactly where you need to be, give you all the information you need. Many times if there is no plan, or goal in place nothing is accomplished. Debts can become easily managed by paying some down, or paying them off, we’ll tell you which ones will help the most. One nice thing today is that in many areas, buying a home is cheaper than renting, so we will look at that too. How nice is that, you can buy a home and have extra money! Take a look at our debt to income information here.
Down payment is an important part, and there are options out there to make a borrower successful. FHA only requires a 3.5% down payment. That means on a $100,000 loan all that is needed is $3500, or saving $100 per month for one year. A small price for owning a home for 30 years! If you don’t have the down payment it can come from tax returns, a gift, or a government down payment assistance program. Not much should stop you if down payment is your only concern. Take a look at this for more down payment information that can come as a gift, or for Down Payment Assistance programs here. We are here to help you with this, give you all the options and let you decide what is the best thing for you, but rest assured this can be done.
Fair to good credit is as easy as anything on the list. If you have demonstrated that you are managing your debts well, and it is reflected in fair to good credit, then you are in good shape, not much help is needed. If not we will spend time with you looking at your credit report. Most credit scores can be improved to acceptable levels within 6 months, even more challenging scores are not more than 12 months most times. We will give you the tips and tools to get yourself to a better credit score. If you do not want to do the work of raising your scores yourself, we know people that charge a small amount to do a lot of the work for you, and advise you. Sometimes inexpensive professional help is your best bet. Get more information on credit repair.
WHAT ARE YOU WAITING FOR – GET STARTED FOR A GOVERNMENT BACKED HOME LOAN!
We at GovHomeLoans.org want you to understand the application and workflow here, essentially tell you why we do what we do, and why it leads to success.
- First, you apply, or submit your information (GET STARTED) to us so we can get a feeling for your goals right away. How much of a loan, where the home is to be, down payment, and other bits of information. There are about 10 fill in the blank questions.
- Get your credit report and scores from our partner at ScoreSense.com through our site (Check your credit). This is important as we want you involved in this process. If you go into your bank today, they will likely get you only one credit score and no credit report. We need all three scores to know where you are, what options are available to you. In addition, when a bank pulls your credit for you, it is called a “hard pull” and will likely lower your scores. A “soft pull” done by you is much better for you, and again will get you access to your report. You need to know what is on your report even if you have excellent credit. It is believed that 1 in 8 people in the US have errors on their credit report. That is a staggering 40 million people.
- Schedule a call, or call your specialist to discuss the options available to you. You will receive an email introduction to your own specialist within 24 hours. Your specialist will give you as much time as you need, but we believe 15 minutes with a specialist will give you all the information you should need that is specific to your situation. The goal of a specialist is to first understand your goals, then answer your questions, get you into a loan, or give you a timeline in which you can do so along with a concise list of things to do.