First-Time Home Buyers with Bad Credit: What To Do

First-Time Home Buyers with Bad Credit

Buying a home is stressful, especially when it’s your first time. There are so many questions bound to arise, and so many things to consider. First-time home buyers with bad credit will have even more stress and steps on top of what is already expected. If you have your heart set on a new house, but have bad credit, you’re not out of luck. Here’s what you should do.

First-Time Home Buyers with Bad Credit: What To Do

Find a lender who will work with bad credit

If you have low credit – or no credit – there are people who will work with you. It’s possible that you will have to contact several lenders before you find the right one. Most lenders require that you have at least a 620 credit score before agreeing to work with you. However, once you find that golden lender, it will help immensely.

Check out FHA loans

FHA loans are very popular among first-time home buyers. With these loans, you can qualify with a lower score. The required score here is 580, with a 3.5% downpayment. You’ll also have to show stable employment of at least two years with the same company or in the same line of work. Verifiable income is also required through W2s, tax returns, paycheck stubs, and bank accounts. With FHA loans, you can’t have any late payments within the last year, although there are some exceptions.

No credit check with FHA loans

If you have no credit, some lenders may be able to get you a loan. To do this, they’ll use alternate lines of credit, such as utility bills, phone bills, and rent payments. This will establish a positive payment history. You’ll only get this established if you really do have a positive payment history, meaning no late payments in the last year.

Shop for the best mortgage rate

It’s recommended that you get quotes from at least three lenders. Interest rates and loan fees will vary from lender to lender, so getting multiple quotes will ensure you’re getting the best deal. Don’t worry, all these inquiries won’t hurt your credit. FICO allows a 30-day window for “rate shopping” when inquiries from different sources will only count as one inquiry.

Improve your credit score

Improving your credit score is not only a way to get a better mortgage, but it will also give you peace of mind. We can help you improve your credit in 30 days to help you get on track to getting that loan even faster. Making sure your credit score is at its maximum before submitting your contract will help make the purchasing process easier and will also help you get a better interest rate.

First-time home buyers with bad credit can still get that house they’ve been eyeing. If you have any questions regarding the process or improving your credit, give us a call at 1-866-991-4885.


No matter what your situation, Go Clean Credit has a solution. We have many credit repair programs that are available to help you overcome your credit situation and place you back on the path to financial success. Real credit restoration is not a once size fits all model and we tailor your needs to the right program, but most people can start for just $99 per month.

We have fixed price programs that get you back on track in as little as 5 months, debt resolution solutions, programs geared toward people who have had recent short sales or foreclosures and many others. Help is just a free phone call away, or you can fill out an appointment request. Contact Go Clean Credit to schedule a free consultation today.

6 Reasons to Avoid a Payday Loan

reasons to avoid a payday loan

Sometimes a payday loan is the best option when you’re really in a bind. If you can avoid getting one, though, you could end up better off in the long run. There are a lot of problems that can arise from getting into a payday loan agreement. Here are some of those reasons to avoid a payday loan.

6 Reasons to Avoid a Payday Loan

1. There are hidden fees

Going with a payday loan means putting up with a lot of hidden fees. For every amount borrowed, the lender will assess a charge. This charge will be added on top of the loan capital and sky high interest rates. When you agree to a payday loan, make sure you read the fine print so you know what you’re getting into.

2. Banned or highly regulated

Payday loans are regulated in many states. This is in order to ban or limit the interest rates, fees, and billing practices of many payday loan lenders. Often times lenders will take advantage of borrowers who can’t get a loan anywhere else. They will scare them into paying more than they have to because they know they need this loan and will probably still take it.

3. Aggressive lending and collection practices

Another reason payday loans are frowned upon is their aggressive lending and collection practices. Some payday loan companies threaten people with prosecution or wage garnishment. These threats scare borrowers into paying off the balance. This collection practice is ILLEGAL and, if encountered, should be reported to the Federal Trade Commission (FTC).

4. Can end up in a cycle

It’s not uncommon to see people use another payday loan to pay off a previous payday loan. Some reputable lenders try to prevent these cycles from happening by keeping a database of their borrowers to avoid rollover.

5. Many companies require access to your bank account

They claim access is necessary so they can just pull the money out of your account to make things more convenient for you. However, if you fall behind and your balance grows, they won’t stop pulling the money out. Even if it’s become too big for you to handle. This then causes a chain reaction of overdraft fees from your bank.

6. Not the best for your financial future

Payday loans are great for when you really need some money fast. Unfortunately, the high interest rates, hidden fees, and collection practices make these loans not financially smart. In fact, they could actually make your situation worse.

If a payday loan is your best option, be careful and aware of what can come with them. Contact us if you have any questions about the reasons to avoid a payday loan. We’re happy to help.


No matter what your situation, Go Clean Credit has a solution. We have many credit repair programs that are available to help you overcome your credit situation and place you back on the path to financial success. Real credit restoration is not a once size fits all model and we tailor your needs to the right program, but most people can start for just $99 per month.

We have fixed price programs that get you back on track in as little as 5 months, debt resolution solutions, programs geared toward people who have had recent short sales or foreclosures and many others. Help is just a free phone call away, or you can fill out an appointment request. Contact Go Clean Credit to schedule a free consultation today.

What to Consider Before Getting a Credit Card with an Annual Fee

What to Consider Before Getting a Credit Card with an Annual Fee

Benefits from credit cards can be really helpful. There’s a lot you have to think about before you jump right into a rewards program. To help you make sure you don’t waste your money on empty promises, here’s what you should consider before getting a credit card with an annual fee.

What to Consider Before Getting a Credit Card with an Annual Fee

Are the benefits worth it?

When cards offer amazing rewards, lower interest rates, and better payment options, it means a fee for consumers. In order for these credit card issuers to afford handing out these benefits, they need to make money in other ways. That’s where the annual fees come in. So when you’re looking at a credit card with an annual fee, take a look at what benefits they offer and compare the cost to what you’ll get. Is the annual fee too high for what you’ll be getting? If so, that credit card might not be worth it.

Will you use the benefits?

If your’e paying the annual fee but you’re not taking advantage of the benefits, then the annual fee is a waste of money. It’s actually not unusual to see people paying an annual fee for a credit card and not take advantage of the rewards available to them.

Are the benefits easy to use?

If you find yourself jumping through a bunch of hoops to receive your rewards, they’re really not that valuable. When checking out credit cards, look for a link to the rewards page on their site. It should be completely clear how many points you have and what you can get with those points. If you need to talk to a customer service rep, then it should be easy to find their number. Upon calling them, you should get straight through to a real person and get clear responses to all of your questions.

Are there hidden fees?

Sure, it might look like a great deal on the surface, but once you start digging deeper, you could find that it’s actually not. Watch out for red flags like having to pay an extra fee to actually get your rewards. Some cash back cards will make you spend a certain amount of money before you can receive your check.

Is this the best deal out there?

Compare different rewards programs. Call customer service and ask them for more information if you don’t understand something. A lot of cards don’t offer a lot of information about their rewards programs, so it’s important to know what you’re getting into.

If you already have a card, check every so often to make sure your benefits are still there. You don’t want to suddenly lose benefits you’ve always taken advantage of. And don’t be afraid to ask ask your card issuer to waive the annual fee. The worst thing they can say is no, so it doesn’t hurt to ask. Who knows, it might pay off and they’ll waive the fee for the year.

If you have any questions regarding what to consider before getting a credit card with an annual fee, give us a call at 1-866-991-488. We’re here to help!


No matter what your situation, Go Clean Credit has a solution. We have many credit repair programs that are available to help you overcome your credit situation and place you back on the path to financial success. Real credit restoration is not a once size fits all model and we tailor your needs to the right program, but most people can start for just $99 per month.

We have fixed price programs that get you back on track in as little as 5 months, debt resolution solutions, programs geared toward people who have had recent short sales or foreclosures and many others. Help is just a free phone call away, or you can fill out an appointment request. Contact Go Clean Credit to schedule a free consultation today.

Can a Credit Card Grace Period Help You Save On Interest?

Can a Credit Card Grace Period Help You Save On Interest

With credit cards, interest is a constant shadow that looms overhead. Just the thought of having even a slightly higher payment for the month is enough to bring any cardholder down. Thankfully, a credit card grace period could help you avoid interest and save money.

Can a Credit Card Grace Period Help You Save On Interest?

Credit cards are not required to have a grace period, although almost all of them do. Credit cards that do have a grace period are required to send their cardholders a statement at least 21 days before the closing date.

What is the grace period?

A credit card grace period is the time between the statement closing date and its due date. During this time,  if a cardholder is able to pay their balance in full and on time, they will avoid interest charges.

How does it work?

Basically, cardholders are accruing interest on all of their purchases, but they don’t see those charges if they pay their balance in full during their grace period. However, if they make a payment that’s less than the balance, they will see the interest. When someone doesn’t pay their balance in full, they will be charged interest on their average daily balance going back to the start of the statement.

What if the grace period isn’t used?

If a person is to leave even just $1 unpaid, it will start to accrue interest during the next billing cycle. On top of that, any purchase made will now immediately have interest charges added on to it.

If you do lose your grace period, some cards require that you make two full payments to reinstate it. Carrying a balance can also leave you subject to trailing interest, or “residual interest.” This type of interest can build up on your balance before you have a chance to pay it off. Even if it says you’ve paid in full, you could still have residual interest looming on your balance.

How to best manage a grace period

Know the statement closing date

Knowing the statement’s closing date makes it easier to know when it’s best to make payments. Make purchases just after the closing date, as opposed to just before. This allows for more time to pay off the balance.

Get grace period back as quickly as possible

If a grace period is lost, it’s best to get it back as soon as is possible for the cardholder. To do this, they should make a payment to cover the entire balance. Unfortunately, this won’t affect the interest already accrued, but it can make future purchases eligible for the grace period again.

Maintain grace period on some cards

Sometimes a credit card has to hold a balance. When that happens, leave that card for balances that are going to have to be carried over. Have other cards that will be paid in full each statement.

Do you have any questions regarding the credit card grace period and how you can use it to your advantage? Let us know. We’re here to help.


No matter what your situation, Go Clean Credit has a solution. We have many credit repair programs that are available to help you overcome your credit situation and place you back on the path to financial success. Real credit restoration is not a once size fits all model and we tailor your needs to the right program, but most people can start for just $99 per month.

We have fixed price programs that get you back on track in as little as 5 months, debt resolution solutions, programs geared toward people who have had recent short sales or foreclosures and many others. Help is just a free phone call away, or you can fill out an appointment request. Contact Go Clean Credit to schedule a free consultation today.

The Link Between Credit Score and Car Insurance

The Link Between Credit Score and Car Insurance

If you’re in the market for car insurance, you usually want to find the lowest premium possible. Because your credit score is so important to determining every financial step you can take, it’s no surprise that it factors in here. Your credit score and car insurance premium will go hand-in-hand when it comes time for insurers to figure out your cost of coverage.

The Link Between Credit Score and Car Insurance

Does your credit score affect how much you pay for insurance?

Yes. Car insurers do look at your credit score to help determine how much you’ll pay for coverage. If your credit isn’t up to par for them, they’ll charge you more for your premium, even if you have no accidents. Your credit score offers a predictive factor that insurers can’t get from things like your driving record, vehicle type, and age. Using your financial history, as well as these other factors, insurers will determine your insurance score.

What is your insurance score?

Also known as your insurance credit score, it plays a big role in how much you’ll pay for insurance over time. The number determined for you represents how likely it is that you’ll file a claim during the time you’re using coverage from the insurer. The higher your score, the lower your premium. Conversely, the lower your score, the higher your premium will be.

Do you have any questions regarding the link between your credit score and car insurance? Let us know! We’re always here to help, just call 1-866-991-4885.


No matter what your situation, Go Clean Credit has a solution. We have many credit repair programs that are available to help you overcome your credit situation and place you back on the path to financial success. Real credit restoration is not a once size fits all model and we tailor your needs to the right program, but most people can start for just $99 per month.

We have fixed price programs that get you back on track in as little as 5 months, debt resolution solutions, programs geared toward people who have had recent short sales or foreclosures and many others. Help is just a free phone call away, or you can fill out an appointment request. Contact Go Clean Credit to schedule a free consultation today.

Can You Close a Credit Card Without Hurting Your Credit Score?

Can You Close a Credit Card Without Hurting Your Credit Score

Before you snip that card in two, understand that there is more to closing a credit card. If you’re looking to close a credit card without hurting your credit score, think about these important aspects to do it right.

Can You Close a Credit Card Without Hurting Your Credit Score?

Should you cancel your credit card?

Although you may want to cancel that credit card, you have to ask yourself if you should. Eliminating one more source of fees that you don’t need sounds great, but it might not be the best move.

  1. Canceling a card could help you avoid annual fees or high interest rates.
  2. Closing a card could reduce your available credit and average age of your accounts, therefore decreasing your credit score.
  3. You may need to open a new card before you close another.

Reasons to cancel your credit card

There are many valid reasons to cancel a credit card. Perhaps you don’t want to be tempted to spend excessively or the terms of your card are no longer friendly. Essentially, you cancel cards that are unnecessarily costing you money. Before closing your account, though, you can request a lower interest rate from the card issuer. However, they may not respond favorably. Annual fees are often a reason to cancel a card, especially if the issuer won’t waive the fee. Opening a new credit card can also be a good reason to close one of your other cards. This is only a good idea if you get a great deal when you sign onto the new card.

Understand that if you’re closing a card to try to help your score, taking all the right steps doesn’t necessarily mean your score will improve right away. Payment information may stick around for a while. So if you had some late payments on the now closed card, they won’t just disappear.

The impact of canceling a credit card

Potential lenders look at your credit utilization ratio. Included in the ratio is how much credit is in use and how much credit is still available. So, if you cancel a card with a high limit, it will significantly affect your ratio. In turn, it could hurt your credit score. Your score is especially at risk if you have high balances on other cards. To make sure closing one account doesn’t impact your score, pay off the balances on all other cards. Zero balances means a credit utilization ratio of zero, so you won’t feel the hit of the loss of a balance.

You also need to consider the age of your accounts. Old credit is good. If the account you want to close is older, it will decrease the average age of your credit and be potentially harmful to your credit score. Closing an older account could have a negative impact on your score.

Do you have any questions about how to close a credit card without hurting your credit score? Give us a call at 1-866-991-4885.


No matter what your situation, Go Clean Credit has a solution. We have many credit repair programs that are available to help you overcome your credit situation and place you back on the path to financial success. Real credit restoration is not a once size fits all model and we tailor your needs to the right program, but most people can start for just $99 per month.

We have fixed price programs that get you back on track in as little as 5 months, debt resolution solutions, programs geared toward people who have had recent short sales or foreclosures and many others. Help is just a free phone call away, or you can fill out an appointment request. Contact Go Clean Credit to schedule a free consultation today.