The HOPE Program can help anyone become credit ready to buy a home
Step One: Becoming Credit Ready
Becoming credit ready is a simple process.
Step One: We remove bad credit from your credit report via the Fair Credit Reporting Act, a government act from the 1970s which allows consumers to dispute any item on their credit report with credit bureaus. The bureaus must reply to these disputes within a 30-day period after perform an investigation into the dispute, which will yield one of the following results: A) the account is yours and the information is filed correct and remains on your report; B) the account is not yours and is updated accordingly; C) the account was reported by mistake and gets removed from your report; D) the account never gets responded to and falls off by default.
Step Two: We add positive credit to your credit report. 35% of your credit score is based on your on-time payments, 30% is your debt utilization ratio, 15% is your credit history, 10% is public record, and 10% is credit inquiries. 80% of your report can be rebuilt through obtaining new credit where payments are on-time, debt is kept low, and history is over a year old.
This is what we use to add new positive credit to your score via programs like the Sub-Prime Credit Score, Beverly Tails Pet Store, the Phoenix Program, and the Ecommerce Card, all of which report positive payments to your report.
Getting you credit ready is simple - we help get your score above 640 by disputing and removing bad credit items and adding positive credit
Step Two: Becoming Lender Ready
We get you lender ready in six simple steps:
- We identify all down payment assistance programs you qualify to receive via local, city, county, state, and federal grant programs (including charities) to help get you assistance to buy a home. Most of these programs don't even need to be paid back and can be used as down payment as part of qualification for an FHA loan.
- We schedule an appointment with a tax professional to make sure your tax returns and income is going to be lender approved.
- We schedule an appointment with a budget planning professional to audit and remove and unnecessary expenses that would get you denied for a home loan.
- We enroll you in our Three Part Education Process. Part One: What's in a House Payment; Part Two: What do Lenders Look for; Part Three: What's the 45-day Home Buying Process
- We assign you a local lender who knows the specific lending guidelines in your area.
- We connect you with a realtor who will work for free, meaning the seller of the home you purchase will pay the realtor commission so you pay nothing out of pocket to your agent.