1-
855-255-0139
Three Tips to Get Approved for Better Loans at Better Rates
Never ask again, "Why did I get denied?"

A loan can mean a lot of things to a lot of different people. But the truth is, whether you're applying for a home mortgage, an auto loan or even a personal loan, the approval process can be a painful experience.

If you've been denied a loan, don't give up on your dreams. While there's no one-size-fits-all solution to getting approved, you can start by understanding why you were denied and what you can do to avoid those same pitfalls.

1. Know your credit report

The first step in understanding why you were denied is understanding what your credit score means. At its core, your credit score is a number that—whether accurately or not—ranks how consistent you will be at paying back a loan.

Your number will fall somewhere between 300 and 850, with anything below 650 being considered suboptimal credit. By understanding where your number is, you can better understand what sorts of loans you may qualify for. If you have a score just below 700, for example, you may find it difficult to secure a mortgage with a good interest rate, but may still qualify for a personal line of credit.

While there are many different scoring methods, FICO® Score is the most common, being used by 90% of top lenders.

2. Remove unfair negative items hurting your credit report
An alarming number of Americans actually have errors on their credit report, negatively impacting their scores and potentially preventing them from securing anticipated loans. But remember, your credit score is not set in stone.
According to the U.S. Federal Trade Commission, over 40 million Americans have errors on their credit report.
Errors may come as a result of student loans, medical debt or even identity theft, and could significantly lower your score, leading to loan denials and high interest rates. The good news is, you can change your credit. The Fair Credit Reporting Act is an example of legislation that guarantees your right to an accurate, substantiated and fair credit report. While you can go through this dispute process on your own, many people do not have the time or don't understand how to make their case to achieve desired results. In these cases, utilizing a credit repair service like Lexington Law is recommended.
The lawyers at Lexington Law have helped thousands of Americans leverage the law to repair their credit. Past clients have seen an average of 10.2 removals in just four months.1
1Not all clients saw such a result as all legal cases are different. You should not expect to see the same result and it is not guaranteed.
3. Balance your credit utilization and debt

You don't need zero debt to qualify for a new loan, but reducing the amount of money you owe is a great way to show lenders that you're in control of your finances. In other words, significant amounts of debt (especially maxed out credit cards) could hurt your credit score.

Similarly, opening new lines of credit right before applying for a major loan could hurt your chances of approval. Lenders want to see stability in your recent credit history, and rapid-fire credit applications are likely to send the wrong message.

These three tips aren't the only ways to avoid getting denied, but they are effective methods that can help you secure a loan and accomplish your dreams. Just remember, while Lexington Law can't help you with every aspect of the loan approval process, we can help you repair your credit. So don't wait. Call us today at
1-
855-255-0139.
What's your credit worth? Calculate your mortgage rate today.

Loan Savings Calculator

Home Cost
Down Payment
| 1.6%
Your Credit Score
Your estimated mortgage payment:
$1,463/mo
After a 40-point credit score improvement:
$1,395/mo
An additional 40 points on your report could save you:
$67/mo
or a total of $24,319 over the life of your loan.
The 30-year fixed home mortgage APRs are estimated based on the following assumptions. FICO scores between 620 and 850 (500 and 619) assume a Loan Amount of $150,000, 1.0 (0.0) Points, a Single Family - Owner Occupied Property Type and an 80% (60-80%) Loan-to-Value Ratio
Don't let errors on your credit report hold you back
Lexington Law has long been known as a leader in credit repair. Here's how we do it.
Research
We start by collecting information about your existing credit report, creating a plan to suit your specific situation.
Challenge
Next, we open a dialogue with creditors, debt collectors and bureaus on your behalf, starting the intervention process.
Follow Up
We leverage the law to keep your case moving forward, informing you of our progress along the way.
Coach
At any time within this cycle, we're ready to answer your questions and teach you how to better manage your credit.

See what our clients are saying

It’s only been three months and reports on my credit have started to fall off. Just today I got an email that two other errors have been removed. Because of Lexington Law, I’m gong to have a lot more opportunities open to me financially.

George
Los Angeles, CA

I called Lexington Law, the representatives were awesome! They were amazing, loving, warming and they listened — So I just went all in. The things I’m impressed with, with Lexington Law, is the customer service and the speed and the results I’m getting. I have hope now because of Lexington Law giving me that second shot at repairing my credit.

Brittney
Los Angeles, CA

I feel like I have hope now because I see these items being removed and I know what I can do to help my credit score.

Lisa
Los Angeles, CA

It’s only been three months and reports on my credit have started to fall off. Just today I got an email that two other errors have been removed. Because of Lexington Law, I’m gong to have a lot more opportunities open to me financially.

George
Los Angeles, CA

I called Lexington Law, the representatives were awesome! They were amazing, loving, warming and they listened — So I just went all in. The things I’m impressed with, with Lexington Law, is the customer service and the speed and the results I’m getting. I have hope now because of Lexington Law giving me that second shot and repairing my credit.

Brittney
Los Angeles, CA

I feel like I have hope now because I see these items being removed and I know what I can do to help my credit score.

Lisa
Los Angeles, CA