Credit Repair
First Option provides Credit Repair as a service to give borrowers a clear path to become viable mortgage candidates. We originally referred those needing credit help to external "credit repair" companies. However, these businesses proved to be costly, and success rates were extremely low. First Option Credit Restoration professionals are mortgage experts focusing on getting a borrower not just "score" ready, but underwriter ready. Our in-house Credit Restoration is integrated into the loan process. Once repaired, the borrower is sitting in front of their loan officer signing loan documents. As a vital part of the mortgage process, our only purpose is to help the borrower become an approved mortgage candidate.
The First Option Credit Restoration Division is staffed by mortgage personnel. Our team is nationally licensed with years of lending experience. Our service is FREE added value to the borrower. There is no cost to take advantage of our expertise
What's the process?
First Option Credit Restoration professionals consult with each borrower regarding the steps that need to be taken to turn around their credit. We discuss and develop a plan to open specific trade lines to build credit, pay down debt balances by a certain percentage, get information updated with the Credit Bureaus and settle with collectors using a specific process. First Option provides our borrowers with a written plan so they are clear on the steps that need to be taken, and the timeframes for the steps to be taken within. Our professionals consult with our borrowers on a weekly basis, ensuring that the plan is being worked based on the timetables recommended. Once the credit is repaired, our borrower is cleared to meet with their Loan Officer and continue the loan process.
Happy Borrowers...
The response we most often hear from our borrowers is "No one has ever taken the time to explain all this! I wish I had come to you earlier!"
- First Option has repaired over 300 borrowers credit to fit Federal Underwriting Guidelines.
- Our average credit score increase is 54 points
- Our average time to repair is 58 days
It's not just about bad credit...
First Option's Credit Restoration Professionals can also assist our borrowers in increasing their credit scores ever so slightly so that they qualify for a better interest rate. It's our mission at First Option to do everything possible for our customers to end up with the most financially beneficial mortgage solution for them.