I am a 5 year Hillsborough County teacher in need of some answers. I am looking to buy a house soon but my credit scores are in the low 600 range.

Asked by Jacqueline Stephens, Tampa, FL Sun Sep 13, 2009

I have paid all of my negative debit and have receipts and creditor letters to show that but the creditors have not updated my credit reports as yet. I need a mortgage but just not sure where to start. Please HELP!

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12
Chris Suarez…, Mortgage Broker Or Lender, Spring Hill, FL
Mon Sep 14, 2009
Hello,
I am a mortgage broker and work on credit as well. There can be some very, very simple things to get your credit where it needs to be.

If you would like to call me, I can ask a few questions and probably tell you right away. I get people's credit up by anywhere from 30-60 points in even 2 weeks. It really just depends on what is there. There are also so many laws when it comes to credit reporting that the creditors are breaking several of those ALL THE TIME.

Give me a call if you would like to go over.
I can give you referrals as well.
(I closed a loan in March with a Buyer that was being reported dead by a Bank)!
:)

Chris Suarez
Suarez Home & Finance Corp.
813-477-5444 SuarezHomeFinance@bellsouth.net
Web Reference:  http://SuarezHomeFinance.com
1 vote
Bill Szydlow…, Agent, Tampa, FL
Sun Sep 13, 2009
Jacqueline,

We can help. We have a mortgage broker that can get a read on what your credit score would be with the changes and can get you approved with the higher score.

Let me know if we can help you further.

Bill Szydlowski
The Szydlowski Team
Future Home Realty
813-323-4443
Web Reference:  http://www.tampamyhome.com
1 vote
Cynthia Skip…, , Tampa, FL
Wed Feb 17, 2010
It usually takes 30 to 60 days to adjust. The company that can help expedite is Credco a very reputable national company out of California, they have ties to the Credit people. The old adage is true, it takes no time to break something but a long time to fix it. Keep your chin up. Sounds like your almost there. I know it has been a long road for you. If you need more help go to our website http://sentryrealtymgt.com and email our consultant on the finance page. We have a lot of experience with this and its free. Good luck
Web Reference:  http://sentryrealtymgt.com
0 votes
Richard Scha…, , Tampa, FL
Wed Feb 17, 2010
You need to start with a Realtor that works with a mortgage broker. This the best method since your ultimate goal is to purchase a house. Also a Realtor can help direct you to reputable mortgage brokers and assist in finding alternative financing if you do not immediately qualify.

Call Sandy Streit 813-503-6362. She has been in the business for over 25 years former president of the Women's Council of Realtors. Please tell her that Richard Schauseil asked you to call her and I will inform her to expect your call.

Thank you and if you wish to speak to me, feel to call anytime. 727-510-1637.
0 votes
Mark LeMenag…, Agent, Lake Nona Orlando, FL
Mon Feb 15, 2010
You guys answering yesterday did note that this was a 5 month old question, right?
0 votes
Hannah Flieg…, Agent, Larkspur, CA
Sun Feb 14, 2010
Hi Jacqueline,

You might be able to qualify for an FHA mortgage with a low credit score but it will cost you more money each month. Mortgage products don’t even get exciting until you have a credit score of 749 or better. The higher credit score, the lower the interest rate. In addition to having a better mortgage product with good credit you will enjoy a lower insurance premium for your home, financing a car will be easier and cheaper with a higher credit score. Employers are now pulling credit reports as part of the back ground screening process. Can you get through life with less-than-perfect credit? Yes you can, it just makes life more difficult. Why not work to improve your credit first, then get yourself qualified for a good mortgage product, then begin looking for a home? This way you set yourself up for success long term. I certainly wish you good luck with your financial future.

Hannah Fliegel
The Credit Repair Expert
415-999-9348

http://www.HowDoYouScore.com
Web Reference:  http://www.HowdoYouScore.com
0 votes
Bill Szydlow…, Agent, Tampa, FL
Sun Feb 14, 2010
Jacqueline,

the mortgage broker i will give you will take care of getting your credit up to date. He has helped us with alot of people that are just below the necessary credit score and tells them what it will take to get to where they need to be, in addition, to having the ability with his program to state where your credit will be once the payments show up. Please call me and we would be happy to work with you on getting the home you want.

Bill Szydlowski
The Szydlowski Team
Future Home Realty, Inc.
813-323-4443
Web Reference:  http://www.tampamyhome.cm
0 votes
Equity, Home Buyer, Tampa, FL
Sun Feb 14, 2010
Have you tried going through Suncoast Schools Credit Union?
0 votes
Melvin List, Mortgage Broker Or Lender, Tampa, FL
Mon Sep 14, 2009
You should be able to increase your scores quickly if all you need is the credit to be updated.
Web Reference:  http://www.flbestrate.com
0 votes
Michael Vald…, Agent, Tampa, FL
Sun Sep 13, 2009
Hi Jacqueline!

My team and I work with a lender who can do loans for home buyers with a minimum credit score of 580.
Please contact us for more details if you are interested.

Michael Valdes & Associates
e-Pro Realtor/ Mortgage Broker, TRC
Keller Williams Realty
(813) 262-0566 Office
http://www.FlaPropertyFinder.com
0 votes
Jmejia, , Tampa, FL
Sun Sep 13, 2009
Jacqueline,
You may want to start my figuring out what your middle score is of the three that displayed for you. This is the typically the score that most lenders will be looking at. Another thing is to ask yourself is when did you last see these scores? What have you done since to maintain or keep your scores up? Ask your lender if they have any special programs,being that you are teacher, you might get a bit mre assistance. Though your score is what many lenders will look at, there will be other compensating factors as to whether you will qualify. I'm not sure what your time frame is for being in a home, but don't get discouraged because you feel that your scores are low. Do some researching, find a lender that you feel can assist you according to your situation. You might be in a better situation then what you think, and if not now, you seem to be 3-6 months from being ready credit-wise. Good luck!
0 votes
Antonio, Agent, Tampa, FL
Sun Sep 13, 2009
Jaqueline,
there're quite few factors that determines eligibility for a loan....
If you think your score is within 620 and up, armed with the pay-off letters I think you might have chances to qualify for an FHA loan if you're seeking for your residence, as long you do have a minimum 3.5% down payment.
Alternatively, you may apply for the 2 S.H.I.P programs but i doubt you will mnage in time to take advantage of the 8K credit; altough I might have a trick in the hat even if you do not close by Nov 1st.
We do offer "one stop" experience, from loans, through Wells Fargo, title etc...
Feel free to call me anytime if you need further assistance.
Antonio - Prudential Tropical 813-785-7529
Web Reference:  http://www.hothomespot.com/
0 votes
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