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Writer's pictureCeleste Jo Walls

What is a Certified Credit Specialist, anyway?

Have you ever seen Disney's Lady and the Tramp? In the full length animated film, the dog and heroine of the beloved classic faces a big change in her household, where her people welcome a new life into their home: a baby. Upon the baby's arrival, of course there's a big hullabaloo and to-do about it, for which Lady-- who has never seen one of these special creatures-- begs the question, "What IS a 'baby,' anyway?" I'm sharing this with you because, when I tell people I'm a NAMB Ceritifed Credit Specialist, the look they give me in reply is a lot like the look Lady has on her face when she asks the question about what in the world is such a big deal about a baby.

The look says, "Okay, it's probably very special, but what the heck does it mean?"


And, my reply to that, is: That's a fair question, because like Lady, you don't know what you don't know. And, when you don't know how important something is, you can't possibly begin to grasp its significance. That is, of course, until you experience it for yourself.


So, perhaps the best way to explain what this special designation means, is to share what I do as a Certified Credit Specialist.


Being a Certified Credit Specialist Means That I Look at More than Just the Numbers

Don't get me wrong here. Numbers are a very important part of what I do, and a FICO score is a big factor in someone being able to buy a home. However, the score by itself is not the only factor. And, I would argue that it's far from the most important factor. It is an essential factor, because in order to qualify to buy a home in Florida (or anywhere, for that matter) and finance any portion of the purchase price, there are minimum credit scores that have to be met, and on top of that, the higher the FICO score, the lower the interest rate.

But, the difference between what I do and what a bank does is very distinct. I don't just pull your credit and disclose to you what your mortgage credit score is. Upon receiving your permission to pull credit, I do a very thorough analysis of your credit as a whole. Once I'm done with that analysis, I consult with you on not just your home buying needs, but also your financial goals, both short- and long-term. Why? Because I understand that buying a house for you is not just a numbers thing: it's a very personal thing.


What are some of the results of being a Certified Credit Specialist?

Well, the results for each client vary greatly, but I can share a few to help you understand the depth and breadth of what I do:

  • Scenario 1: A first-time homebuyer had significant deliquent accounts and derogitory credit. I consulted with him on ways he could improve his credit, and gave him tangible, attainable steps to follow that were within his budget. He followed these steps, and in six months, he bought a home for his wife and family with zero down payment.

  • Scenario 2: A retired widow desired to buy her forever home. However, upon reviewing her credit, I discovered that she had no FICO score due to lack of use. She hadn't used her credit in over 15 years. With my consultation and diligent steps, in less than six months, she had a FICO score and was able to buy her forever home.

  • Scenario 3: A first-time homebuyer couple with very little assets could not qualify for down payment assistance because their FICO score did not meet the minimum requirement. After consulting with them on steps they could take quickly, in less than one week, I helped them improve their credit score enough to qualify for a down payment assistance program that allowed them to buy a home before the lease on their apartment expired.

  • Scenario 4: Consulted with a borrower who was recently divorced and, consequently, had debt as well as a tight budget. With consultation about her credit health and how to buy a home with a house payment she could afford, she was able to close on a new home for her and her children in less than two months.

  • Scenario 5: After consulting with a borrower who had excellent credit, I showed him how increasing his score by just a few more points could secure him a lower interest rate and put him right within his budget for his desired house payment.

I could keep going, but we don't have all day, and you get the idea. ;0) There are a lot of challenges when it comes to life. Credit can be a good thing, but it has to be managed in a fiscally sustainable way. I work with my borrowers to help them find that sustainability, as well as more financial security through healthy credit habits and making well planned credit decisions. And, the positive results of this planning we do together often has lasting effects that ripple long after the home buying process is done.


If you're looking for a Florida mortgage consultant who understands you are more than just your FICO score, then let's take some time to chat. It would be my pleasure to help you on your journey to reaching your homeownership goals, whatever they might be.


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