I am wanting to buy a home, but my credit is not in the best of shape! HELP!!! I would also be a 1st time buyer. Any ideas??

Asked by Lindsey Cheney, Dallas, TX Mon Aug 1, 2011

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Josh Buchter, Other Pro, Philadelphia, PA
Mon Aug 1, 2011
I have 12 years experience repairing credit and offer a free credit cosultation if you are interested. There are two steps involved in rebuilding your credit: 1. remove negative items from your credit report. 2. open up new accounts and keep them in good standing.

I'll be happy to explain further.

Josh Buchter
Credit Rescue Inc.
124 Chestnut Street
Philadelphia, PA 19106
1 vote
AV, , Dallas, TX
Mon Aug 1, 2011
We have a service to check your score and do some 'what if' scenarios to get your score raised to a 620 to qualify. Contact me at 214-277-2326 to discuss.
1 vote
Craig Laughl…, , Dallas, TX
Mon Aug 1, 2011
You could try owner financing. Most of the time credit history is not the determining factor, it is usually the amount of downpayment you have to offer.
1 vote
Barb Cole, Agent, McKinney, TX
Mon Aug 1, 2011
As mentioned in several answers before, your credit is the starting point to see where you are and what you need to do to get your credit where it needs to be for a lender to get you approved along with your income and rental history, etc. You can go to a lender of your choice to look at your credit and this will be the beginning of your roadmap to becoming a homeowner. Good luck!
1 vote
Dallas Texas, Agent, Dallas, TN
Mon Aug 1, 2011
You need to clear your credit issues then purchase.

Most lenders require a 625 + credit scores, down payment of 3.5% or more, 2 years employment

Lynn911 Dallas Realtor & Consultant, Credit Repair Advisor
The Michael Group - Dallas Business Journal Top Ranked Realtors
1 vote
R. Will Fair…, , Richardson, TX
Mon Aug 1, 2011
Hi Lindsey,

As with some of the prior answers, you need to find out just where your credit standing is before deciding on a plan of action. Beware of the gimmicks out there promising high credit scores by using their services - they simply are not legitimate. I work with a Lending Professional that can usually boost your score by 20 - 30 points upfront, and will council you on how to repair. If you would like for information, email me at rwfairchild@live.com.

Good Luck!

Will Fairchild
1 vote
., , Maplewood, NJ
Mon Aug 1, 2011
Review your credit report line by line with your mortgage lender. You will likely find items that are incorrect and/ or out of date. You can contact the credit reporting agencies in writing immediately asking them to remove outdated or incorrect information. Getting these things off your credit report will be a great start.
1 vote
Suzanne MacD…, Agent, Morristown, NJ
Mon Aug 1, 2011
Talk to a local, reputable lender. If you don't now one, talk to a realtor and they will help you. Often first time buyers THINK their credit is bad when it's really only average. A good lender will be able to tell you where you are now and, if credit repair is needed, they will tell you what needs to be done, how long it will take, and what the net effect of the repair will be so that you WILL be able to buy a home, if not now, then at some time in the not so distant future.
1 vote
Damon Willia…, Agent, Dallas, TX
Mon Aug 1, 2011
You can usually do some fairly easy things to boost your score. I would need to know your mid score and why it's low in order to see if you have a
Web Reference:  http://Www.realtordamon.com
1 vote
Susan Byrnes…, Agent, Dallas, TX
Mon Aug 1, 2011
Hi Lindsey!

First question...do you know all three of your scores? Is it below 640? Have you filed for bankruptcy in the past? If not....you might possibly qualify for an FHA loan! If it is below 640... there are several ways to clean up your credit. Some more expensive than others. Some are also more reputable than others! You would have to do some research and I would be glad to put you in touch with a few people if you think it would be helpful.

Please let me know if there is anything I can do! Here to help!
1 vote
Karen James, Agent, Duncanville, TX
Mon Aug 1, 2011
Check Neighborhood Assistance Corporation of America, NACA.
They help buyers with an awesome loan that is not based on credit score.
It is work to get the loan but well worth it. Their website is http://www.NACA.com. Good luck!!
1 vote
Melissa Bach…, Mortgage Broker Or Lender, Plano, TX
Mon Aug 1, 2011
Your lender should pull in your credit report and then run a credit simulator that would be able to assist you in raising your scores. This can be done very quickly and provide you with direct answers on what you need to do and hopefully, achieve a quick loan process. If your credit is beyond quick repair, you may need more time, but at least you will have the knowledge to assist you in making decisions. You can reach me at:
Melissa Bachmann
1 vote
Jason Howard, , Dallas, TX
Mon Aug 1, 2011
I would start putting together a 12 month plan. Start with professional advice on how to get your credit where it needs to be. Take the time, plan accordingly, and you will save yourself tens of thousands of dollars!
1 vote
Christopher…, Agent, Tarrytown, NY
Mon Aug 1, 2011
Hi, Your best bet is to contact a reputable mortgage professional directly. They will analyze your financial situation and credit to properly advise you.

Web Reference:  http://raveis.com/chrispagli
1 vote
Logan Waller, Agent, Dallas, TX
Mon Aug 1, 2011
I have a great referral for you to help raise your credit score. One of our lenders referred this company to a client of mine and she was able to raise her score in the 700's with in 60 days and purchase a home.
Jeanie Nixon
0 votes
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