Skip to main content

My Credit Is Bad But I Want To Buy A House

Pamela Madore
Pamela Madore Mortgage
pamelamadoremortgage.com

My Credit Is Bad But I Want To Buy A House

This is somethig that I hear very often.  My first question is always, "how do you know?"


Answers range from:


  • I've got some stuff on there
  • I've got some medical collections
  • I had a repo
  • I had a foreclosure
  • I had a bankruptcy
  • I don't really know but Credit Karma says I am in the 500's
  • The bank turned me down
Sound familiar?  Have you ever said any of those things?  

First, let's get a few things straight.  "Bad" means different things.  It can come in degrees.  Credit scores are not always the deciding factor.  

For instance, let's say you go to a local family owned bank.  You have your checking and savings account there and you have a car loan.  That would be the logical place to go, right?  Let's say, for whatever reason, your score is a 619 (they require a 620 score) on the day you go in.  They say "no".  What do you do next?  Your bank has said "no" so it must be "no".

WRONG!!  Let me explain.

Banks are very conservative and only want people that don't have a blemish and really never had.  Is that realistic?  How many people have gone through 10 years without some sort of credit problem?
Pamela Madore Mortgage

Pamela Madore Mortgage is a mortgage broker.  I work a lot like an insurance broker.  You want insurance on your car and you go to an independent insurance agent and they "shop" for the best deal.  

As a mortgage broker I do the same thing.  In my case, the best deal may simply be a "yes" instead of a no.  I am an approved Mortgage Broker with lenders across the United States BUT I am local.  We can talk and see each other.  You get the best of both worlds.  More choices and local respresentation.

If your bank has said "no" for ANY reason, contact me.  I have hundreds of different programs to fit many unusual circumstances.

Pamela Madore
Pamela Madore Mortgage
3955 S. Soncy
Amarillo, TX 79119
806-290-1920   Call or Text
http://pamelmadoremortgage.com








Popular posts from this blog

Looking For a Fast Paced Challenging Career in Real Esate?

Pamela Madore
Keller Williams Realty
pamelamadore.com


Millennials Searching For Hybrid Jobs Apply Here





No two days are ever the same.  The activities repeat themselves but in a variety of settings and ways with your creativity as a catalyst.    

Welcome to Keller Williams Realty



There really is no such thing as "selling a house".  Instead, it is developing a relationship with a seller or buyer and helping them solve their problem.  And we provide the training and technology to do it.

You will wear many hats and with the unlimited ongoing training at Keller Williams Realty you will continually be moving toward mastery.



How Is Keller Williams Realty's Technology Affecting the Real Estate Industry?

Pamela Madore
Keller Williams Realty
806-290-1920

How Is Keller Williams Realty's Technology Affecting the Real Estate Industry?

At Keller Williams Realty we believe that Technology is the key to capturing the vast amount of buyers and sellers in the market.   And we have turned the way we do business to make sure that happens!

At the moment, we have many things in the "Labs" stage.  That is, they are working and learning and growing.  One of our most innovative current "Labs" item is Kelle.

Kelle is our own AI (artificial intelligence).  It is on its way to becoming one of our most successful tools for our clients.  By simply saying "snap" and then add a neighborhood, Kelle with show all of the statistics for the area.  (Email me and I will "snap" your neighborhood for you).  

We have an upcoming Command Center that will be the hub of all of our current pieces of technology and marketing.  One log-in will take us to any piece of information that b…

Not Everyone Fits In The Traditional Mortgage Mold--Unusual Financing Available

Pamela Madore
Pamela Madore Mortgage
http://pamelamadoremortgage.com
806-290-1920

Not Everyone Fits In The Traditional Mortgage Mold--Unusual Financing Available

Unusual does not mean Guido.  All is means is that lenders are now offering programs that make sense even though they don't fit traditional financing.

Let me explain that just a bit.  


FHA,  VA and Conventional loans all have something to do the with government.  FHA loans are government insured against non-payment.  VA loans are guaranteed by the government for non-payment.  Conventional loans are "packaged" which means that similar loans are put together in big packages and sold in what is called the secondary market to create things like Treasury Bills. Therefore they have to meet certain strict guidelines.  That is really too complicated sometimes to even think about.  So I don't.  These are not for everyone.

These are called Agency Loans.

Now there are a whole set of other loans programs that are not "Agenc…