"Premier" and "A-" Credit:

There are a number of reasons why your credit could appear in this category, even if you've paid your bills on time: high consumer debt compared to income; not enough time has passed since you resolved a bankruptcy or foreclosure action; you want a loan that doesn't require proof of income or assets; or, you've been self-employed for less than 2 years.

Whatever the reason, we can help you find your home loan solution. To make this credit grade, the following statements should generally describe you:

Housing expenses — Up to two 30-day late payments on your mortgage in the last year

Installment debt — No more than three 30-day and one 60-day late payments on your car or student loan accounts in the last year

Revolving debt — No more than three 30-day and one 60-day late payments on your credit card or department store accounts in the last year

Adverse accounts — If you had 90-day, or 120-day late payments, collection items, charge-offs, tax liens, judgments or delinquent properties in the last 2 years, no more than $500 is still owed on these adverse accounts

Bankruptcies — At least 2 years have passed since your chapter 7 or 13 bankruptcy was settled or discharged

Foreclosure actions — At least 3 years have passed on your foreclosure settlement or discharge

Outstanding debts — You are currently making payments on at least 3 credit accounts for either revolving credit, installment debt or mortgage loans. At the most, your debts represent 55% of your net income; lenders refer to this number as your debt-to-income ratio.

As the names "premier" and "A-" suggest, you almost have "A" credit—and many loan options should be available to you. Countrywide offers very attractive loan options for those with near "A" credit. Even if you don't need to improve your credit score very much, we can still offer you tips to improve your credit—and home loan solutions to meet your needs.

If you have been self-employed for less than two years, your credit rating could suffer since it is more difficult to demonstrate stability in your income. Unlike other lenders, Countrywide does its best to ensure people who are self-employed, yet qualify in all other ways, get the home loan they deserve.

If you have a high debt-to-income ratio, a debt consolidation loan may be helpful, especially if you have a number of high-interest credit cards. Consolidating your high interest rate debt into one, easier-to-manage payment, typically at a lower overall effective interest rate, may allow you to pay off your debt faster—and improve your credit. Call Countrywide and ask about a debt consolidation refinance today.