Home Buying in Sleepy Hollow>Question Details

Thania Nunez, Home Buyer in Sleepy Hollow, NY

i want to buy a house similar to this one in the near future, but my cridit score is below 600, what can i do in the mean time to increase my score?

Asked by Thania Nunez, Sleepy Hollow, NY Thu Sep 29, 2011

Help the community by answering this question:



There are several methods to increase one's credit score. A client of mine was in the same situation 3 months ago and we are now looking to make an offer on a property. I have resources and people who specialize in advising and assisting people in your circumstance. If you are interested in a proffessional to guide you I can help.

Steve Geiger
Associate Broker
Houlihan Lawrence
1 vote Thank Flag Link Mon Nov 28, 2011
If you pay your bills on time while paying down debt your credit score should rise over a period of 12-24 months. If you need assistance you can contact the National Foundation for Consumer Credit (NFCC.org) or CredAbility.com, a national network or nonprofits credit counseling agencies.

More credit and home buying advice in my blog below
0 votes Thank Flag Link Thu Sep 29, 2011
Hi, The best thing you can do is pull your credit report from one of the three reporting bureaus or freecreditreport.com. Look it over to see what is on it and dispute anything that shouldn't be there. Your score is derived fom a few parts such as balances, paying on time, etc. Depending on what your report says you may be able to get some small credit cards and build from there. If that is not an option try a secured credit, Bank of America offers them.

0 votes Thank Flag Link Thu Sep 29, 2011
Ms. Nunez,
Repairing your credit score starts with understanding why your credit score is what it is. In some cases, it is very simple, late payments lower your credit score and the more recent they are the more damaging it will be. However, there are other components to your credit that will impact your score such as your balance-to-limit (or debt to high credit) and more importantly your credit history. In addition to being a real estate professional, I am also a licensed mortgage loan originator in the state of NY and have been for the last 13yrs. I would be happy to speak with you about reviewing your credit report while discussing options and potential strategies. Please contact me directly.
0 votes Thank Flag Link Thu Sep 29, 2011
Consider visiting with any loan officer as well, after reviewing your credit, he/she may offer great suggestions as they relate to you; in the meantime, do pay all your bills on time, dispute any negatives, keep credit cards below 50%, pay down debt, possibly pay off old debt, etc.
0 votes Thank Flag Link Thu Sep 29, 2011
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