Financing in 21208>Question Details

Letisha Ford, Home Buyer in Pikesville, MD

I can not catch a break. This is the second time going to 1st time homebuyers workshop. My credit scores are 612, 589, and 618. Lender needs 640 Help!

Asked by Letisha Ford, Pikesville, MD Fri Jan 27, 2012

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Gordon Haraway’s answer
Hi Letisha, I specialize in teh MD CDA Maryland Mortgage Program. Anyone who qualifies can get $5,000 fron their DSELP loan which is a zero interest, zero monthly payment deferred loan that only requires repayment when you sell your home or refinace. The minimum mid score needed is 620. Now lets talk about this home buyer workshop you referred to, The CDA program requires an 8 hour home buyers class offered by an approved non profit agency. The certifacate you receive is good for one year. It sounds like your credit needs just a little work to get up to that 620 minimum score. I can review your credit with you at no charge and put you on the right track. If you have any questions, send me an email through my web site. Best of luck
Web Reference:
0 votes Thank Flag Link Sun Apr 22, 2012
Work with a good loan officer or mortgage broker. Obviously, with those scores, there's still some clean-up that has to be done in your credit history. You need someone to take a look at your credit reports, analyze them, determine what needs to be done, and help you to do that.

If you're not getting that feedback and support from the lender you're currently talking to, find another one who will help you. If you don't know where to start, contact a Realtor and ask for suggestions for good loan officers.

Hope that helps.
2 votes Thank Flag Link Fri Jan 27, 2012
Don Tepper, Real Estate Pro in Burke, VA
The group doing the first time homebuyers workshop should also have a credit counselor. Make an appointment to speak to them. They will go over your credit report with you and advise you what to do to bring up your credit scores.
1 vote Thank Flag Link Sun Jan 29, 2012

I am not sure, but I think you are right about the 640 score if you are trying to receive CDA, DSELP grant money for your purchase. Is that the case? They do want to offer the funds to people that have a higher and more stable credit score. I just closed on a home with a couple that received a grant for their down payment and I work with a very good lender that knows this program inside and out. I would suggest that you call him as he is very proactive on helping you to clean up your credit and get your score up so that you can purchase a home. Give me a call and I will share some more information with you about the program and my lender friend. I would love to help a new first time buyer purchase a home. It is truly one of the reasons I am still working in this business. Nothing more rewarding to me than seeing a person close on their first home.

Tina Beasley
Broker, ASP
Better Choice Realty, LLC
1 vote Thank Flag Link Sat Jan 28, 2012
Dear Letisha,
I'm an agent that has a background in mortgage. FHA loans only need 620, so you're 2 points away. Some mortgage companies require higher scores, like the 640 you mention. All you really need is 620, and some lenders have products down to 600. Please visit
and look into the contacts for 1st Mariner, and Chase. I had a client who just spoke with 1st Mariner about their 600 score program, was advised how to pay down some cards to get a quick rescore showing the few short points they needed to qualify. That client found a home in a week, has already done her home inspection last week, and is closing in 2 weeks. Good luck !
Ariana Loucas
1 vote Thank Flag Link Fri Jan 27, 2012
Sit down with your loan officer and have them explain exactly what is causing your score to fall below the threshold, if they can’t tell you, then you have the wrong loan officer. Good luck,
1 vote Thank Flag Link Fri Jan 27, 2012
Hello Letisha,

There are people who can help! Please visit the following website:

Then you can contact me at or give me a call at 214-395-8038 and I can help guide you through the process.
0 votes Thank Flag Link Wed May 21, 2014
Hi my name is H. Roy Bhiro, I am also a Vet who is a Mortgage consultant. I have many tools to help clients like you strategically increase your credit scores. First of all do not contact any creditors with whom you have a current derogatory account. If you have a copy of your credit report call me and let’s discuss. My services are FREE for my customers.

H. Roy Bhiro
0 votes Thank Flag Link Wed Apr 23, 2014
You have a middle score of 589 so you have a shot of getting a house.

I can do scores down to 580.

There are other factors I need to review.

Give me a call at 443 660 9903.


Calvanaugh Hoskins
0 votes Thank Flag Link Fri Apr 18, 2014
You can go to NACA.
no down payment, no closing cost no fees and no prefect credit. you can go to the website and check them out
0 votes Thank Flag Link Sat Jan 4, 2014
Flag Sat Jan 4, 2014
Dear Letisha,
Each lender varies on their score criteria. FHA rules are 620. Some banks go lower. My contact at 1st Mariner Mortgage can do a 600 credit score. Visit my site for Tammi's number: She will even give you some aggressive tips to get scores even higher quicker. Good luck!
Ariana Loucas RE/MAX
0 votes Thank Flag Link Sat Apr 21, 2012
Hi Letisha,

That is something you'll want to work with your lender on. It's not difficult to raise a credit score in as little as 6 months. You'll need to make all payments on time and keep an eye on another couple of factors as well. Contact your lender for guidance and you will be in your home soon!
0 votes Thank Flag Link Sat Apr 21, 2012
I know some very experienced loan officers who maybe able to you. Send me a direct email and I will more than happy to put to put you in touch with them. Please visit my website @
0 votes Thank Flag Link Fri Jan 27, 2012
I suggest speaking with the Lender to see what suggestions they have to help you raise your credit score. Rich Salla
0 votes Thank Flag Link Fri Jan 27, 2012
Most FHA lenders will normally do a 620. Also, is this your middle score of the 3 agencies. You are so close one month of prompt bill payment or the elimination of one incorrect credit report entry will put you over the top. Call me and I'll put you in touch with a lender who may be able to help.

Bob McGee
Advance Realty Timonium

PS: Read my blog entry on improving your credit score:…
0 votes Thank Flag Link Fri Jan 27, 2012
I can take a look at your credit report and tell you how to increase your scores. Otherwise you're going to run into that no matter where you go for a loan. Shoot me an email at
Web Reference:
0 votes Thank Flag Link Fri Jan 27, 2012
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