Home Buying in Baltimore>Question Details

 Standard545, Real Estate Pro in ,

I would like to know how long will it take for me to get an approval after I clean up my credit in Feb. All I will have left is just 16k in student

Asked by Standard545, , Sat Nov 9, 2013


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Please feel free to contact me. I am a lender and one one of my strong points is credit repair. When you are ready please feel free to contact me. References upon request. Also this may help also.


Brent Mendelson
1st Mariner Bank
0 votes Thank Flag Link Sun Nov 10, 2013
It depends on why you were disqualified. If it was because your income debt ratios were off, the effect will be immediate, If it was because it impacted your credit scores it may take a while for that to heal because of how the credit scoring algorithms work at the credit scoring agencies. That is particularly true if the score was impacted by late pays. In the meantime do not close credit card accounts. Just pay them down or off. The longer an account is open helps your score.

Bob McGee
Advance Realty Inc.
0 votes Thank Flag Link Sat Nov 9, 2013
There are some great lenders out there that will work with you in advance of being ready to purchase. They'll pull your credit and set up a game plan to help clean up your credit and give you a time table of when you can expect to be ready. If you aren't already working with one give me a call and I'll be happy to refer you to a few that could help!

Jennifer Lasek
Re/Max American Dream
(410) 529-7900 office
(443) 250-6416 cell
0 votes Thank Flag Link Sat Nov 9, 2013
That's a question that you should speak to a lender directly about. There are a lot of factors that are a part of your credit score/ history. A lender could help you through this process. If you are working with a realtor now ask them who they recommend. If not you can give me a call or email me. We can out together a plan and contact a lender. I hope this helps.

(443) 686-9750
0 votes Thank Flag Link Sat Nov 9, 2013
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