Your credit score should be fine to qualify but they will look at other things such as income and debt. I would talk to lender and see about getting pre-approved. I think you have a pretty good chance.... more
We help first time home buyers like yourself in need of a little credit assistance. Please take a moment to look over our website. This is more than credit repair.. Its credit education, debt and budget help, mortgage tools that will help you understand the entire process, etc.
Have a great weekend.
CEO & SR Credit & Mortgage Consultant of
Ex-Mortgage Broker of more than 10 years
Not that I know of. Most lenders are capped at 620 using FHA.. I would find out what you need to do inorder to bring your credit scores up. Have you had your credit run and do you have copy? Call me questions 262-607-2295... more
There's one way to find out:
There's no jeopardy here, it won't affect your credit scores.
If you buy it on just his scores and his signature, you should be able to add your name to the Title after the Escow closes.
Good luck and may God bless... more
When a lender pulls your credit score from all 3 bureaus it temporarily slightly affects your credit (not drastic). Depending on how long ago your lender pulled your score, it may or may not affect your credit to rerun. feel free to email with any questions at Sarah@kapitalrealestate.com.... more
Some debts are reported to one company, some to all 3, etc. and if you request a copy of your credit report from all 3 companies, you'll see who has what reported--thus, the different score-- the midlle one is often chosen as it's usually the best average of the 3 combined.
I would highly recommend contacting a credit councilor. The fee they charge is quite minimal in comparison to the things I have seen them accomplish. Since they work with people every day that are attempting to repair their credit score I know they will have firm answers for you. As well as offer up some ideas on how to continue on a positive path. If for nothing else, to get on their email list will offer you a lot of great advice. One that several of my clients have used and raved about is http://www.creditcoachwisconsin.com/
It sounds certainly like you are determined, hang in there!... more
My recommendation is to contact a local lender who can make some suggestions of how to improve your credit score. Most lenders will work with you in repairing your credit and will give you positive information of do's and don'ts. Several lenders I have spoken to have seen decreases in credit limits from major credit companies when a client pays the entire balance off due to past history of deliquent payments. Lenders do not want to see credit cards maxed out. If your credit limit is $5,000 then your balance should be below $2,500. Having revolving credit cards with low balances and you pay them off monthly will help your credit score. I hope this helps you.... more