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Steve Ferguson
Branch Manager, Thrive Mortgage
4819 Williams Drive, Georgetown, TX 78633
Office: 512-253-7357 | Cell: 512-913-7566
NMLS #: 196278 | Branch NMLS #: 285739
Credit Repair

The Credit Restoration Process

It is becoming more and more evident that credit repair is an absolute necessity in today’s lending world as credit scores are dipping lower due to higher delinquencies from job losses and pay cuts.  In order for many people to qualify credit repair may be necessary for their loan process.  Here are some very important facts regarding our credit repair process: 

  • We have set up an arrangement with a credit vendor to handle our credit repair clients at the lowest price per person possible 
  • Out of every person that enrolls in our credit repair process we are able to qualify approximately 95% to purchase a home once the credit repair is complete!
  • We closely monitor the credit repair process for every customer and maintain communication through out the restoration process.

Disclaimer: Thrive Mortgage is not a credit repair company.  If credit repair is deemed necessary we will refer you to an outstanding credit restoration company for the actual credit repair.


Why is Credit Repair Important?

You credit score determines whether or not you are going to buy a home!


  • Credit score requirements for all lending programs have increased
  • FHA has tightened its lending guidelines in order to stem recent mortgage related loss due to foreclosures.
  • In order to qualify for the best possible rates you must have the best possible credit.
  • Over 50% of the credit reports we see contain errors that can affect credit scores.

What can bad credit cost you?

Here is a great example from a recent client:

New home purchase price of $250K

Credit Score: 575

Loan type: FHA

Down payment: 3.5%

Interest rate 5.5%

Estimated mortgage payment (Principle, Interest and MI only): $1574.48


The borrower was not completely happy with the rate so we worked on his credit score for 45 days and here are the new terms he ended up closing with:

Purchase price: $250K

Credit Score: 642

Loan Type: FHA

Down Payment: 3.5%

Interest Rate: 4%

Estimated mortgage payment (Principle, Interest, and MI only): $1354.27


This was a total monthly savings of $220.21 or $2642 a year!

  Your credit scores will determine how much you will pay every month for your home

 Call us today for a FREE credit consultation!