Designed to retain a loan officer's clients who do not yet fall within a home loan's credit range. 

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Email #1:

Subject: As you prepare

 

Beginning the home buying process invariably takes preparation. For some, that means rebuilding credit. Even though you did not qualify for a home loan, you should not be discouraged. Commence Home Mortgage offers a complete service from beginning to end, including the preparation phases. 

 

Over the next year, I will be steadily providing resources to make the process as smooth as possible. Along the way, I welcome you to contact me with questions or for clarifications. 

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Email #2:

Subject: Time well spent

 

A home purchase is often the biggest transaction an individual makes in a lifetime. As we discussed, having good credit will demonstrate to lenders that there is a low risk of a loan defaulting. That is why rebuilding credit will be time well spent in the long term. Consider the ways the following aspects of financing a home can benefit: 

 

• Securing a loan

• Allowance for a lower a down payment

• Receiving a lower interest rate

• More economical mortgage payments

 

In the meantime, I am available to offer helpful solutions. It is a pleasure to be in touch.

 

Email #3:

Subject: Anatomy of a credit score

Understanding the components of your credit score can often ease the process of rebuilding a rating. Below is a breakdown of what influences a score and how each part is weighted:
 

• Payment History: A timely record ranks highest, at 35% of a score

• Credit Utilization: How close debts are to credit limits factors 30%

• Credit History: The age of open accounts makes up 15%

• Credit Types: A a mix of credit cards, retail accounts, and loans, 10% 

• New Credit: Too much can have a negative impact at 10%
   

Keep in mind that the importance of each category varies. For instance, individuals with short credit histories will benefit less than those with longer ones. Therefore, it’s difficult to measure the exact impact of a single factor without assessing an entire report. 

 

I would be glad to speak more about credit health or answer questions at any point. 

 

Email #4:

Subject: Cleaning up a report

 

Having good credit is important, and so is staying positive regarding your dream of owning a new home. While increases tend to be gradual, ensuring your report is accurate and eliminating negative marks can have an immediate impact. Here are a few ways this can be done:

 

• Correct mistakes – collections, loan inquiries, or accounts that do not belong to you can be reconciled by contacting the credit bureau

• Negotiate ­– some creditors will remove an unpaid balance if you provide an agreement in writing stating your intent to pay it in return

• Ask for a ‘goodwill adjustment’ – this can happen mainly if you maintained a good history up until one specific point in time
   

My goal is to deliver credit monitoring resources timely to your purposes. As always, I am here to help.  

 

Email #5:

Subject: How to obtain a free report
 

We understand that rebuilding credit does not happen overnight. However, there have been cases where numbers improve within just a few months. That's why we encourage you to track your progress.
 

A free report can be obtained at www.annualcreditreport.com.
 

Please contact me as soon as you have achieved a score of 660 or above. In the meantime, I will be sharing more credit health advice.
 

Email #6:
                                                                Subject: What you can do

While securing a home loan requires borrowers to be within a certain credit range, improving a score does not have to be a stressful process. Having a better understanding of what actions to take can make an impact. Below are a few helpful tips:
 

• Stay current on existing accounts; one late payment would lower a score

• Continue to use credit as normal; changes in patterns also have an effect

• Sign up for automatic notifications when balances are due; messages via email or text can assist with timely payments
   

Contact me to discuss strategies unique to your situation. It would be a pleasure to assist.
 

Email #7:

Subject: Credit pitfalls to avoid

The steps that can be taken to rebuild credit are not always straightforward. To guide your success in preparation for the home loan process, here are common pitfalls to avoid when working to boost a score:
 

• Applying for new credit:
  Points are deducted when your credit is pulled

• Maxing out credit cards:
  Try to keep credit card balances below 30%

• Consolidating debt:
  If debt is consolidated, it will appear to be ‘maxed out’

• Closing out credit card accounts:
  This will cause debt ratio to increase

• Paying off collections or ‘charge-offs’:
  This should be done at closing via escrow

 
I hope you find this information useful. It may be time to review your progress. Be sure to contact me at your earliest convenience.

Email #8:

Subject: Credit do’s and don’ts

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When trying to improve a credit score, it is ideal to know of steps that can be taken to make improvements, as well as what can lead to setbacks. Here is a basic list of do’s and don’ts to help you stay on track:

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• Do – Stay current on existing accounts

• Don’t – Apply for new credit

• Do – Continue to use your credit as normal

• Don’t – Consolidate your debt

• Do – Dispute any inaccuracies on your credit report

• Don’t – Pay off collections or ‘charge-offs’
   

I am readily available to speak with you regarding next steps.

 

Email #9:

Subject: Let’s touch base

 

We hope this finds you well, and that the credit-building resources we’ve provided have been helpful. 

 

If you have achieved a score of 660 or above, let’s schedule a time to review your report. This number indicates to lenders a below-average risk of a loan defaulting. Keep in mind that a review of your report would be necessary in order to determine your eligibility for a loan.

 

If you are still working along, perhaps there is a solution that we have yet to explore. Moreover, let’s touch base to ensure the rebuild process is moving along efficiently.

 

Email #10:

Subject: As we work together

 

Hopefully we have recently discussed your options moving forward and that you are reaching your goals. If this is not yet the case, remember that sometimes the best solution is time, and that we would like to hear from you.   

 

Here are a few questions to ask if you are not yet seeing desirable numbers:

 

• How much did the score need to improve?

• Had there been frequent or severe setbacks?

• Was there a loss of a source of income?

• Were any collection agencies involved?

 

If you answered ‘yes’ to the above, a rating fit for a home loan can still be reached. Please contact me when you have a moment. Thank you for letting me be of assistance.

 

Email #11:

Subject: The road ahead

 

We want to be proactive about the road that lies ahead once your credit has been rebuilt. When purchasing a new home there are a number of things to consider. Below is a brief list to help you prepare for those exciting next steps:

 

• Do your research – Observe the housing market trends in the area that you would like to live, and note any changes

• Compile financial documents – Your credit report, pay stubs, W-2’s, and bank statements

• Establish a range of affordability – Your lending specialist at Commence Home Mortgage can also assist with this

• Make a list – Realtors often ask for clients to distinguish qualities needed in a home from those that are desirable

 

I hope this keeps a focus on your dream of a new home investment. It has been a pleasure working with you thus far.

 

Email #12:
                                                            Subject: Excellent progress

 

Whether you have begun the next phase of the home buying process or have just a few more steps to go in rebuilding credit, you have learned a wealth of knowledge about credit health. As we mentioned earlier on, improving credit is time well spent.

 

I would like to congratulate you on your hard work and let you know that I am committed to your financial goals and objectives. Let’s be in communication about securing a home loan that meets your needs. I am just a phone call away. 

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