Credit Score in Gilbert>Question Details

Jan Arnold-S…, Home Buyer in Queen Creek, AZ

My credit scores are 612EQ, 618EX, and can I get the other two up with TU?!?

Asked by Jan Arnold-Staggs, Queen Creek, AZ Tue Apr 2, 2013

I want to buy a house, we have some money for a down payment, and there is nothing on my credit report to pay off, change etc. Please advise. Thanks!!

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You can get a loan now.. We help people who have low credit scores and match you with a lender that has a loan product for you. 580 credit score needed for FHA and 620 for conventional with 3% down.
3 votes Thank Flag Link Tue Oct 22, 2013
Jan, Hello.. Sounds like you have been very diligent with your credit. What you are experiencing is most likely a lack of revolving credit which makes up almost 35% of your credit score. With that said. Take a look at your credit reports (all three) and count how many revolving trades you have. Now look at the available credit of those accounts. The goal with revolving accounts is to keep the balance at 30% of the credit line or below. For example, you have a $1000 credit card with Capital One, your balance should be below $300 in order to reap the benefits of the account being reported. All credit scores are calculated based an algorithmic formula which I won't even get into. But this is key to getting your scores higher. If you have open revolving accounts bring the balances down. If you don't apply for a secured visa with Capital One or US Bank as they will report to all three bureaus as an unsecured card. A secured visa is where your deposit makes up your available credit. I actually suggest opening an account with both. I also suggest you look at your inquiries and dispute those inquiries in which you do not have open accounts with. Inquiries affect your credit score and a deleted inquiry can boost your score from 3-8 points depending on the type of inquiry (Mortgage, Installment, Revolving).. I truly hope this information has been helpful. Have a great day and best of Luck. Christina Solorzano of Everlasting Credit Repair.
3 votes Thank Flag Link Thu Apr 4, 2013
Have you spoken with a credit repair company? A couple of my clients have used one and see great success--and they can make recommendations that will increase your score even though you don't have things to pay off or have removed.
1 vote Thank Flag Link Tue Apr 2, 2013
No, I really haven't . I got my credit reports, paid everything off, and contested the things that were incorrect. Now I am stuck. I heard that repair companies can sometimes damage your credit, so I have stayed away.
Flag Tue Apr 2, 2013

What exactly do you have on your credit? Have you looked at each credit report individually?

Have a great day;

Christina Solorzano;
CEO & SR Credit & Mortgage Consultant of
Everlasting Credit Repair
Retired Mortgage Banker
0 votes Thank Flag Link Tue May 21, 2013
besides credit score, lower debt to income ratio, verifiable consistent earnings and some cash reserves are needed to get a mortgage. Keep improving your scores, avoid buying anything on credit and avoid changing jobs.

best of luck!
0 votes Thank Flag Link Tue May 21, 2013

The most important key to improving your credit is simply time. Whatever issues are holding your scores down in the low 600's, simply need time to age and become less relevant to the formula used to determine your score. There are really no "quick" fixes, and I would be very leery of any "credit repair" service who claims they can raise your scores "X amount of points" in a short time. If it were as easy as just being able to pay some money to wipe past indiscretions off your report, then our credit reporting system would be basically worthless.

As Christina mentioned below - you might want to go over your report with a fine tooth comb and try to get anything in error disputed, or deleted. It sounds like you've already done this however, since you state there is "nothing to pay off, or change". Also, as Christina mentioned, you might want to consider opening up another account. In some cases, your scores will raise in a short time, due to the fact that you would have a higher amount available, unused credit.

Hope this helps!
0 votes Thank Flag Link Thu Apr 4, 2013

I have a couple of resources that won't charge you and can help you raise the scores as needed. We have options, it depends on the time you decide.

This is easy to complete and you are a buyer sooner than later.

I live in Queen Creek, do you want to stay out east?
0 votes Thank Flag Link Tue Apr 2, 2013
Yes, QC/Chandler/Gilber/Mesa. What type of resources do you have that help?

Flag Tue Apr 2, 2013
Hello Jan,

A lender is more qualified to answer your question and help bring your credit score up because the lending regulations are constantly changing almost to quickly to try an keep up. I could answer a question, then find out the the requirements have changed, that is why I highly recommend to all my clients to speak to an experienced loan mortgager than can answer all your questions with up to date answers. I work with several loan mortgagers. I recommend Nina Carpenter. She has over 20yrs experience and is very knowledgeable in this field. Here is here contact information: Office # (480)633-4352, Nina's cell # 602-410-4352. Please give her call and let me know if she was able to help you. Also I will give you my contact information if you need to ask me any other questions, I would be glad to answer for you. Thank you and have a great day!

John Acosta / CSSPE

Direct (480)329-0413
Office 9480)820-3333
e-Fax (602)863-4628
0 votes Thank Flag Link Tue Apr 2, 2013
Thank you for the referral.
Flag Tue Apr 2, 2013
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