Congratulations on having your down payment for your new home purchase!
In regards to improving your credit, I am a Certified Mortgage Planner and I have helped many clients improve their credit scores so that they qualify for their home loans. I'd be happy to help you as well.
I also work for a TRUE mortgage bank where we service our loans & because of this, we have greater leeway to approve borrowers for their loan. For example, we can approve a purchase loan with credit scores down to 580.
Please feel free to contact me directly if you have any further questions, I'd be glad to help.
All the best,
Roswell Moore, CMPS
Certified Mortgage Planner
NMLS ID 263779
We are a Direct Lender, Mortgage Bank where we originate, process, underwrite, fund, AND SERVICE our loans, in-house, with FHA (starting at a 580 score AND still only 3.5% down), FHA Streamline refinance loans (NO minimum credit score, NO appraisal required) Go Green rehab loans, HomePath, Investor Friendly (10 financed properties), VA, VA Refinance loans (NO appraisal required on IRRRL loans), USDA loans, Jumbo loans, Conventional loans, plus, we allow Escrow Hold-Backs!
If you do not have good credit and are working on it, you can use your down payment for a "Seller May Carry" interim financing with a down payment. Usually requires 15-25%. This gives you time to get a conventional loan in 2-5 years.
Here are the seller may carry homes in the metro area currently for sale: http://link.flexmls.com/ub7k1q5dnm5,12
Jeffrey Masich, Reatlor, GRI, MBA