With a middle score of 600 you may be able to get a mortgage loan, however you will not get the best rates and terms.
AS for you scores only going up a little bit, at least they are moving upward. This is very positive news:)
Try paying your credit card bill BEFORE the due date, in addition to paying more than the min.
Do not use your credit card to buy items like groceries. If you can, avoid using the credit cards altogether.
If you can get that middle score to 640, you will be in better shape for a mortgage loan!!!!
Best of Luck to You!!!
Kawain Payne, Realtor
Prudential California Realty
We also have money for first time homebuyer from the State of Florida that may get you up to $7,500 towards your downpayment and closing costs. You must have a 640 credit score to get that money, though. Pasco County also has first time homebuyer money and the program offers some houses that are immaculately updated and refurbished and you get a significant discount. Again, a lender has to approve you for the mortgage "first".
Also if you're having difficulty with getting a mortgage, try GTE Financial Credit Union. They will lend money based on risk so if you have a stable history for the past year with paying everything on time they may take a chance with you.
Here is info on the first time homebuyer Bond Program in Florida and you MUST work with an APPROVED lender on the list so I would start with one of these lenders:
All the best,
Alma Rose Kee, PA
Sold On Tampa Team
first of all, did a mortgage lender pull your credit and give you the middle score, or did you do yourself? Either way, if the score is correct, I have a couple of mortgage brokers, that more than likely, can get you a mortgage or, at least, figure out what it will take. It does not matter if your are building a home or buying a resale home, both will require the same credit score from my experience. Usually, banks are not as forgiving as independent mortgage lenders. please call me so that we can discuss.
Future Home Realty
Paying off debt is a great first step, but collection agencies do not remove the tradeline out of the goodness of their heart. If the collection is still reporting even with a zero balance it is still hurting your credit score. Also do you have open credit? If you would like help getting qualified for a mortgage please call me. We repair and rebuild credit so you can qualify.
Have a great day;
CEO & SR Credit & Mortgage Consultant of
Everlasting Credit Repair
Making home ownership more than a dream...
Retired Mortgage Banker
FHA - 580
Conventional - 620
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