Home Buying in Greensboro>Question Details

Gospopdin Ko…, Real Estate Pro in Greensboro, NC

Is that you FICO score?

Asked by Gospopdin Kostov, Greensboro, NC Wed Oct 10, 2012

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Not sure what you're referring to. Your FICO score is the average of your credit scores from the three primary credit reporting agencies, TransUNion, Equifax and Experian.
0 votes Thank Flag Link Thu Oct 11, 2012
I would recommend opening a new credit card to add to your automobile and installment loan.

That's likely to boost your score quickly and enough to provide you with better rates and terms for your mortgage loan when you find the right home. You don't really want a long term mortgage loan with a 580 when you could quickly build it.

Of course you need to have a loan officer analyze your credit history to verify your eligibility and you might also need to add some more savings for your down payment reserves if you are looking for an FHA loan.

You might also qualify for USDA which needs no down payment, just a higher score.
0 votes Thank Flag Link Wed Oct 10, 2012
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