Credit Score in Phoenix>Question Details

Monique S., Home Buyer in Phoenix, AZ

How long should I wait to apply for a mortgage loan after raising my credit score?

Asked by Monique S., Phoenix, AZ Fri Jul 19, 2013

I recently just raise my credit score from 579 to 670 in just over two months. I had a few charge offs/collections from previously when I was in college. I want to apply for a mortgage loan for fha or usda but I am not sure if I should wait a little longer Is the score raise too recent?

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15
They all answered well, you're good to go right now. The real questions is how soon should you wait to give me a call so I can help you find the perfect home and give you the great Movie Homes's rewards? That answer to that is also right now, ha ha. Hope to hear from you soon! Thx.
1 vote Thank Flag Link Fri Jul 19, 2013
Cll Christopher Holmes at 480-214-8815 to discuss your situation.
0 votes Thank Flag Link Mon Jul 22, 2013
Monique,

I would get in touch with your prefered lender asap.. There is a wealth of information they can provide in helping you with your credit. It sounds like your on the right path.

Feel free to contact me direct for a plan that will work for you. References upon request!

Lucinda Tkach
602-799-6846
0 votes Thank Flag Link Sat Jul 20, 2013
Eric;
That was the smoothest segue I have seen on Trulia.
You've earned the golden thumb award!
0 votes Thank Flag Link Fri Jul 19, 2013
Ha, ha. Thanks my friend, just trying to get that coveted "vip 3" award you have next to your name. Keep up the good work.
Flag Fri Jul 19, 2013
I will shorten my response.

NOW!

Dave Jackson
Loan Officer/Real Estate Asset Planner
Financing Solutions for Arizona Real Estate since 1993
American Financial Lending, Inc.
20860 N. Tatum Blvd, Suite 160
Phoenix, AZ 85050-4277
602 277-3800 w
602 631-9788 f
602 524-2401 c
602 912-9438 h
davej@aflhomeloans.com http://www.aflhomeloans.com
BK # 0910057 NMLS LO ID # 284875
0 votes Thank Flag Link Fri Jul 19, 2013
You want to speak with a lender directly.
0 votes Thank Flag Link Fri Jul 19, 2013
No need to wait! Mortgage co's/ banks look at your current score. The best plan of action is to get with a loan officer now and let them advise you as to how you should proceed, what you will need to close a loan, and most importantly what you qualify for. If you are ready to take this step, I have several wonderful people you can speak with to see who is right for you. And of course I would love to be the agent to lead you on your new home buying journey. Give me a call today if I can be of any assistance. Let's talk!

Rose Mullins, Associate Broker
Platinum Premier Realty
8755 E Bell Rd, #106
Scottsdale, AZ 85260
602-796-1111
0 votes Thank Flag Link Fri Jul 19, 2013
Best to have a Mortgage Broker answer your question. Suggest you call Christopher Holmes, 602.525.9593 with Guarantee Rate Mortgage.
AJ Kesman
0 votes Thank Flag Link Fri Jul 19, 2013
Hello Monique,

you need to talk to your Loan officer that is working with you ,if you dont have one let me know and i can set you up with one that can help you , you mention you raised you score almost 90 point that is great and should help you get what you need ; your score should be good for fha i would not wait to long
prices have been rising and so have the rates , increase in rates reduces what potential clients can buy and rising prices reduces the pool of homes available in the range the clients are trying to purchase.

i would love to help you purchase you home , if you need a lender please let me know
if you have any questions also email me or call me

thanks have a great weekend
0 votes Thank Flag Link Fri Jul 19, 2013
Hi Monique:

FHA will want to see a clean credit history for the past 12 months, so if any of this is that recent, you will need to wait for that time period to lapse. If greater than 12 months, there is no need to wait.

Good Luck.

Bill Parker, NMLS #223607
0 votes Thank Flag Link Fri Jul 19, 2013
Monique

No need to wait, in fact the sooner we connect with a good mortgage person the sooner you will know for sure. Mortgage will pull a full blown tri-merged credit report to make sure all 3 are clear of your old stuff. In the event something is hanging they can help provide advice on how to clear or change as needed.

We have a couple of other 100% Loan programs if that is attractive to you. 100% and no restriction on area so if you want to be closer in the city we can still get you 100%. USDA is a good program but is restricted in the areas we can choose.
0 votes Thank Flag Link Fri Jul 19, 2013
You should probably have this conversation with the specific loan officer you plan to work with. He/she will know the underwriting guidelines for that company and can better advise you. Many people get mortgages soon after raising their scores, but company underwriting policies vary. You should consider all aspects, such as rising home prices and rising interest rates to determine if it is worth waiting. Good luck.
0 votes Thank Flag Link Fri Jul 19, 2013
No need to wait, go for it now!! Just make sure that during the mortgage process you do not take on any additional debt and don't close any open lines of credit. Scores change frequently and the mortgage lender will run another credit report prior to closing so you have to make sure it stays close to where it is now.
0 votes Thank Flag Link Fri Jul 19, 2013
Yes I was thinking about waiting two more months at least to see if I can get it in the 700s at least. I just didnt want to get denied because of a couple of previous charge offs
0 votes Thank Flag Link Fri Jul 19, 2013
Your Score is your score! (very profound!)
Can you do that again in the next two months?
You should buy when you have all your ducks in row, when you are committed, and you find what you truly want.
Good luck and may God bless
0 votes Thank Flag Link Fri Jul 19, 2013
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