Ingrid B. Quinn

NMLS ID #211652 Arizona, Loan Consultant

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Dos & Don’ts When Applying for a Mortgage

When you are apply for a mortgage there are a few things to keep in mind. Here are some dos and don’t when applying for a mortgage.

Pay current bills on time
Maintain current working status (same employer & hours worked)
Provide all information/ paperwork requested from lender (there is a reason they ask for it)
File your taxes on time
prepare your full down payment prior to closing

Change your marital Status
Over draft your current bank account or change bank accounts
Source the money for closing (there has to be a paper trail)
Open new accounts of make large purchases on a credit card
Co-sign on someone else’s loan

If you have any questions or comments please feel free to email me at

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Credit Repair

Lots of people suffer from “bad credit” or in the last 5 years have suffered some kind of credit incident and this can affect your future for a long time. There are many companies that claim they can repair your credit however; with a little bit of knowledge you can do the same things for yourself. Here are some tips on how to accomplish this.
1. Get a full credit report:
a. This can be easily obtained ….go to and obtain a free report from each of the 3 credit bureaus
b. Check all of the information on the credit report to verify that the information is accurate and all about you.

2. Pay off your negatives:
a. If the poorly rated items have occurred in the last 12 months, pay or settle them.

3. Start to rebuild!
a. Keep credit balances between 30-50%.
i. Never max out your credit card even if you make payments on time.
ii. You should never allow a card to become fully inactive.
b. Retain accounts you’ve had the longest:
i. This shows longevity in your credit report
ii. You want a minimum of 3 open trade lines at all times

4. Use a secure credit card:
a. A secured credit card is one of the easiest ways to build credit.
b. Apply for a small installment loan. Some banks offer credit builder loans and at the end of the term you have a small CD.
c. Put a sizable down payment down for a car and borrow a small amount instead of paying cash for a car.

5. NEVER pay 30 days late on any credit account.
a. This will automatically drop your credit score
If you are looking to make a major purchase such as buying a home keep credit inquiries at a minimum. For any questions of comments feel free to contact me at