UpgradeUSA Brings Services to Mortgage Lenders to Help Their Customers Build Credit

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Online credit-building laptop payment service is now helping mortgage lenders’ prospects become clients for FHA loans and beyond

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UpgradeUSA is an e-business that helps people build credit through laptop payment plans.

When shopping for a home, people should take their credit history very seriously.

UpgradeUSA, a leading online company focused on helping people build credit through laptop payment plans, announced today the availability of its services to the clients of mortgage lenders. Many of these consumers may be looking to purchase a home this spring, but lack the required credit history to do so.

UpgradeUSA reports each customer’s laptop payment to all three credit bureaus, every month, which helps customers build a history of making payments over time.

“When shopping for a home, people should take their credit history very seriously,” said Jon Weisblatt, Founder & CEO of UpgradeUSA. “The best way to demonstrate commitment to potential lenders is to have a consistent on-time payment history, and have those payments reported to all three bureaus. That’s one of the benefits we offer at UpgradeUSA, and that’s one big reason why customers love doing business with us.”

According to reports from the US Department of Housing and Urban Development, the average FICO composite score for FHA loan recipients in fiscal year 2012, for single-family homes, was 697.

Whether purchasing a home for the first time or refinancing an existing mortgage, having a good credit history is necessary to qualify for reasonable mortgage rates. The FHA, while not a mortgage lender themselves, provides the opportunity for many U.S. individuals and families to achieve ownership of a home through the FHA mortgage insurance program. The FHA requires a minimum of two active trade lines on a credit report, and individual lenders have their own requirements.

The UpgradeUSA program offers some important benefits for consumers interested in building credit before purchasing a home:

  •      We report every laptop payment to all three credit bureaus, every month. We work with customers to rebuild from a variety of situations, including divorce, bankruptcy, medical conditions – and people with no credit history at all.
  •      Our consumer lease/payment plans allow customers to build a payment history that can last as long as 17 monthly payments.
  •      UpgradeUSA offers a flexible cancellation policy – depending on the state of residence, there is a brief minimum lease term after which customers may cancel the lease and send the laptop back, but still retain the good credit history for the months they were active.
  •      Prices at UpgradeUSA.com don’t change based on a credit score; the price on the site is the monthly price customers pay (plus tax and optional loss-damage waiver).

“Not everyone will qualify for our program, but if they are ready to make a positive step forward, we may be able to help them along the path towards getting the mortgage of their dreams,” said Weisblatt.

UpgradeUSA gives qualified consumers a chance to build a good credit history, which often follows a variety of personal financial situations that cause them to be turned down for traditional financing. The company’s innovative online-only payment program allows approved customers to choose a brand-new computer without having to wait for months to receive it like layaway, or be forced into high prices for low-quality used products typically associated with the rent-to-own industry.

Consumers who visit UpgradeUSA.com will find a variety of new and factory-refurbished computers made by the world’s leading technology companies, and many models come with Windows 8, the newest operating system from Microsoft.

Everyone Can Use Better Credit
A number of good people in the United States are starting to build a positive credit history thanks to the UpgradeUSA laptop payment program. A variety of people -- including entrepreneurs, legal US immigrants, students, individuals with a bankruptcy in their history, and many others -- are taking this important step. The UpgradeUSA program is online-only to preserve customer privacy and discretion.

UpgradeUSA’s Prices and Products
UpgradeUSA’s laptop payment plans are available online only, at a variety of prices designed to fit a range of budgets. Unlike other companies, monthly prices at UpgradeUSA do not change based on a customer’s credit score. This makes for a more affordable, quality alternative to traditional rent-to-own, financing, and layaway.

How People Can Apply
To participate in the program, people should visit UpgradeUSA.com where they can click on the “Apply Now” button and complete a short, 2-minute application on a secure site. Email responses are sent within one business day. UpgradeUSA ships the laptop after the first customer payment. Customers can make and schedule all payments securely online via debit or credit cards.

Availability by State
UpgradeUSA’s online-only laptop payment plan services are available for qualified customers in the following states: Arizona, California, Colorado, Delaware, Florida, Illinois, Kansas, Kentucky, Louisiana, Massachusetts, Michigan, Mississippi, Missouri, Montana, Nevada, New Mexico, New York, North Dakota, Oklahoma, Oregon, South Dakota, Texas, Utah, Vermont, Virginia, Washington, and Wyoming.

About UpgradeUSA
UpgradeUSA addresses the needs of millions of U.S. consumers who want access to quality products but need an affordable payment plan that will help them build credit. The online-only company currently offers new and refurbished mobile computers, with each monthly customer payment reported to all three major U.S. credit bureaus. The UpgradeUSA program is available in a growing number of states. UpgradeUSA is privately held and is headquartered in Austin, Texas.

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Jon Weisblatt, Founder & CEO
866-989-0003 100
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