I need a realtor who can also help me improve my credit to qualify for a home loan.

Asked by Jason, Red Oak, IA Mon May 5, 2014

In March of 2015 I will be transferring within the same company to our Davenport location. I am looking for a modest home around $60,000 or less. I make $45,000 but have bad credit from when I was poor. I'd like the spend the next 11 months saving for the down payment and improving my credit score. I'm just not sure how to go about it.

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Christine Drayer’s answer
Christine Dr…, Agent, Davenport, IA
Thu May 8, 2014
Truly, a Realtor has much to offer when it comes to finding your next home. However, it is imperative for you to work with a professional in the financial industry to accomplish your goal of improving your credit as quickly as possible. Many lenders will sit down with you and review your credit and give you a game plan for getting back on track. You might be surprised at how helpful they can be. I don't know your situation but you may even be able to qualify for a home loan if you meet with a bank that services loans in house, as they don't have to be quite as strict regarding credit score stipulations. If you would like the names and contact information of the lenders I prefer to work with feel free to contact me anytime.

Christine Drayer
Licensed REALTOR in Iowa
Mel Foster Co.
3211 E 35th St. Ct.
Davenport, IA 52807
Mobile: (563) 449-2482
Office: (563) 823-2222
Website: http://www.cdrayer.com
0 votes
Rebecca Marv…, Agent, Palmdale, CA
Tue May 6, 2014
Keep current on revolving credit, limiting the amount of available credit that you use, keeping current on your car payment (if you have one), etc., will drive up your credit score.

It will take a bit of time but you can get there.
1 vote
Le Ann Dunne, Agent, Iowa City, IA
Wed Oct 15, 2014
A realtor is very helpful in many aspects; however you need to work closely with a lender to assist you taking the correct paths to improve your credit score so that you will qualify for a mortgage. Best regards!
0 votes
RonS, , Concord, CA
Tue May 6, 2014
Don't bother looking for a realtor to improve your credit. There is nothing anyone can do for your credit that you can't do for yourself for free, if you only do the research.

* Pay down your credit related debt if you have any to below 50% of available balance.
* Resolve any open collections/chargeoffs/judgments so the accounts will stop reporting to the bureaus. Try to settle those debts if possible to reduce the amount owed.
* Open secured credit cards and use them, but pay them off or below 50%.
* Dispute incorrect items on your report after geting a copy of it, if they are incorrect.

As a side note. Being poor doesn't give you bad credit. Spending more than you make, and then not paying for it does.
0 votes
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