Home Buying in 92025>Question Details

Andrew Young, Home Buyer in Graham, WA

My score is 540 i got all of my late and past bad credit paid off this month how long will it take to reach a score high enough to get a home loan

Asked by Andrew Young, Graham, WA Sat Nov 24, 2012

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Good for you Andrew for paying off your debts. Generally, it can take 30-60 days to see this reflected in your credit score. Most lenders however, have access to a system called 'rapid re-score.' Get together with a reputable lender in your city and ask to have that done for you...it will cost a few dollars, but will allow you to use your credit sooner.
0 votes Thank Flag Link Sat Nov 24, 2012
It sounds like you have a pretty good understanding of credit at this point and are on the right track. NOW, the key for you is to connect with a reputable lender to build on your efforts. I would not blindly call anyone or take bait in forums which offer what seems to be what you want to hear. You need an objective perspective to help you in the next step of achieve your goal of home ownership.

I am happy to pass on to you my personal lender's info. I have used him for years after initially learning the hard way. The reality is that lending in a snakepit and you don't want to get bitten or taking down the wrong road, promised one thing and then switched into another at a critical point in your transaction.

Contact me and we can put together the plan for you.

BeachBrokerBIll
CA DRE 01775528
NMLS 908076
bill@coastalhomesofsandiego.com
(760) 525-8698
0 votes Thank Flag Link Sat Nov 24, 2012
You have to contact a local loan officer and see if you he can do a rapid re-scoring for you. I am not too familiar with this process. But as I have mentioned, a competent local loan officer should be able to assist you.

Best of Luck.
0 votes Thank Flag Link Sat Nov 24, 2012
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