I have been fixing my credit for the last 3 years my credit score is fluctuating, should I try now to buy a home?

Asked by April210, San Antonio, TX Fri Jun 15, 2012

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Christopher…, Agent, San Antonio, TX
Sat Jul 28, 2012
Remember that your credit rating is based on the main fact of your ability to pay your debts over the long term. Therefore if you pay off a balance it doesnt hurt your credit, but it is not helping it in terms of the definition. If you purchase a car with cash, you will have obtained no credit, good or bad. You need to have a long term credit card with positive ability to pay it off or keep it current. It may hury your credit to close a long term account.

If I can further help you please don't hestitate to contact me.

Chris Thorson
Century 21 United-Northside
Cell 210-595-0027
Office 210-979-6700
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Rosie Kelch, Agent, San Antonio, TX
Wed Jun 20, 2012
Getting prequalified is the first step in buying a home. I have a great Lender who also helps people with their credit at no cost. Call me 210-846-3027 so we can talk an look at all your options...
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April210, Home Owner, San Antonio, TX
Mon Jun 18, 2012
I have no collections, I had an old credit card from 2004, 2 months ago I paid the balance thinking that would help me, yet it looks like it hurt me.
0 votes
Was that old credit card a charge off?
Flag Tue Jun 19, 2012
Jason Campbe…, Agent, San Antonio, TX
Mon Jun 18, 2012
This is the very best time to try!

I would choose a very aggressive lender like Kasey Hampton - 210-241-2629 or http://www.DHIMortgage.com/Kasey-Hampton - quick, easy, and free.

She has an inhouse credit clean department that will guide you through any issues that might be there... but she is very aggressive... if it can be done.. she is the one to do it!

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Terri Saari, Agent, San Antonio, TX
Sat Jun 16, 2012
Your best bet is to get with a reliable Lender and have them check out your credit and see if your are ready to buy. Getting prequalified is the first step in buying a home. I have a great Lender who also helps people with their credit at no cost. Her name is Marsha Neimeier at Patriot Bank. Call or email me and I will give you her cell number and email address.

Terri Saari

Terri Saari, Realtor®
Certified Relocation Specialist
Retired United States Air Force
Kimberly Howell Properties
21252 Gathering Oak, Ste 100, San Antonio TX 78260
210-887-3477 Cell
210-493-6888 Office
210-493-7002 Fax
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Tommy Burris, Mortgage Broker Or Lender, Baton Rouge, LA
Sat Jun 16, 2012
Do you have collections?
Paying collections can drop your score sometimes.... As it makes the account look more recent.

Credit card balances affect score too.
The more balance you carry the more negative the impact. FICO doesn't like to see credit cards maxed out. We use the term 'Utilization' of credit lines on open accounts when discussing this.

Your scores are good enough for FHA now.
Once over 640, you don't get a great rate.

Email me and I will reply with a free copy of my e-book about credit. I think it might help you.

Tom Burris
Mortgage Banker
(214) 763-4629 cell/text/nights/weekends(Really!!)
Lending all across the entire Great State of Texas!!
NMLS# 335055
Search Dallas area MLS for FREE. No registration => http://www.ntreisinnovia.net/cgi-ntr/BR_login?0501134
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Darrell D. D…, Agent, Schertz, TX
Sat Jun 16, 2012

The scores can fluctuate up or down. Even if you are paying all bills on time, the amount of debt can change your scores if you have made recent purchases or opened new lines of credit (new credit card, new department store card, etc). That being said, the scores you quoted are still good. You sound like you are in great shape to obtain a pre-approval.

Instead of focusing on why you scores have changed, it's best to speak with a competent lender to get pre-approved. I would highly recommend Lisa Warren of SWBC Mortgage to assist you. Here is her info:

Lisa Warren
Senior Mortgage Banker - SWBC Mortgage
NMLS# 227358
8400 Blanco Rd, Ste 100
San Antonio, TX 78216

She is super easy to work with. Let her know Darrell recommended her and when you are set to find a home, I'll be glad to assist. If you want to speak to her today, Saturday, give me a call and I can get you in contact with her.


Darrell D. Drouillard
Home Team of America
16719 Huebner Rd., Bldg 4
San Antonio, Texas 78248
210-881-6760 (Fax)
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April210, Home Owner, San Antonio, TX
Fri Jun 15, 2012
I have three scores transunion 645 experian 620 and eqiufax 675. Last month all my scores were in the 670's and with no late payments the scores have changed. I have been using transunions truecredit.com
0 votes
Nice job in getting your scores up!
Flag Sun Jun 17, 2012
Tommy Burris, Mortgage Broker Or Lender, Baton Rouge, LA
Fri Jun 15, 2012
Fluctuating in what range?
We need to know numbers. Can you provide us with the 3 scores? And where did you get those scores? http://www.ntreisinnovia.net/cgi-ntr/BR_login?0501134
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Brian Paris, Agent, San Antonio, TX
Fri Jun 15, 2012
Typically mortgage lenders like to see scores above 620 or 640. Some lenders will do a 580 score with a sizeable downpayment. You can check your score to see (ballpark) where your score is now. If its above the minimums stated above, then yes, now is a GREAT time to buy.

There are other factors that also help you get approved for a mortgage. DTI (Debt to Income Ratio) also can hinder your chances for getting approved. There is a Front End ratio (mortgage/gross monthly income) that should be below 35% and the Back End Ratio (mortgage and all of your debt/gross monthly income) that should be below 45%. Pleae note that these quotes are estimates and may vary depending on the lender you choose. The more conservative the lender, the lower the ratios tend to be.
I hope this information was helpful to you. If you are ready now, or if you still have some work to do, either way I would love to help you or simply point you in the right direction!

Good luck!
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Royce Simmon…, Agent, Cibolo, TX
Fri Jun 15, 2012
If you feel comfortable, call me on my direct line and I will get you to a mortgage professional who I trust and can give you decisions with no sales pitch or nothing else.

Royce Simmonds, Broker-Owner
Realty Executives Lone Star Inc.
36 Years Air Force Active Service
0 votes
Ray Blankenb…, Agent, San Antonio, TX
Fri Jun 15, 2012
Now is a great time, I can hook you up with a mortgage company who can give you the answer over the phone.
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Teka Cross, Agent, Cibolo, TX
Fri Jun 15, 2012
I would say yes..Call me and we can work on getting you through the steps of home ownership..
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Stefanie Pat…, Agent, San Antonio, TX
Fri Jun 15, 2012
With the low rates right now, I would say it is worth a try! Give me a call so we can discuss and see if you are ready.

Stefanie Patterson,
RE/MAX North San Antonio
Cell - 210-501-9133
Fax - 210-468-1868

The finest compliment I could ever receive is a referral from your friends and famil
0 votes
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