You credit score is not that bad and you're only about 30-40 points away from being able to purchase a home. I'm sure you would like to take advantage of the 3.25% interest rates!
I would suggest contacting a reputable Credit Restoration company. Most times they can look at your credit score and tell you what to do in a short amount of time (30-60 days) to get your credit score to improve. Be careful when you apply for credit restoration though, b/c some companies will disclose the fact that your had credit restoration on your credit report, which could hurt your score more.
If you need local references, feel free to call me and I can give you a few people. The one girl I usually suggest (she does a fantastic job) is on Bustleton Ave in Philadelphia. She will look at your credit report and let you know if she can help you and how long it will take before she charges you anything.
Best of luck!
If you have any other questions, please feel free to contact me at:
Al Ferraguti, Realtor/Owner
1148 Street Rd.
Southampton, PA 18966
If you merely have bad credit because don't don't have history, then that's easier to improve fast. If you don't HAVE credit cards you should have 3 or so. Use ALL of them - a bit - each month and pay them off entirely. That establishes a good payment history.
Even IF someone would give you a loan now, they will charge you a premium for the loan and it will really cost you. That would be a silly thing to do, when the market will be down for a long time and you'll find a GREAT house in 6-12 months for your budget, when your credit is better.
Don't be stressed!
At my company, Rinehart Realty Corporation, Rock Hill, SC, we have exceptional, professional REALTORS, a Bank of America Loan Office, an in-house attorney, a property management division for renting, and our Broker in Charge is the President of the SC Association of REALTORS.
If I may be of service to you, please contact me. I think your odds in buying a home look very good! You have MORE going for you than some buyers that I HAVE sold a home to !
Best of Luck...but hurry. The home Buyers Credit will expire 4/30/10!!
Kimberly Gaffney, REALTOR
Rock Hill, SC
Your first step is to talk to a loan officer. If you need references, please feel free to contact me and I can email you a few to choose from.
Mika D. Lisiewski
CENTURY 21 Alliance
630 Germantown Pike
Lafayette Hill, PA 19444
office: 610-828-2700 ext.275
Licensed in PA RS308999