I want to buy my first home but my credit score is 572. I pulled a report and it is all medical. I have begun making payments. What else can i do?

Asked by Stacy212002, Bartow, FL Sun May 1, 2011

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Sun May 1, 2011
There are many reasons why a score could be low. You just mentioned one of them. Lenders don't care about medical collections. But they do care about repossessions, foreclosures, bankruptcies, judgments and recent charge offs. Your credit is low because of negative items so in order to improve it you have to add positive ones, and it does not mean necessarily paying off old accounts. Give me a call or send me an email and I'll send you a report that I recently wrote called "Establishing or Restoring Credit" where I tell you about the secured credit card and many other things you can do. Sometimes you can do things that would increase your scores immediately and sometimes you might be able to buy in 6-12 months.

Jose Morales
Florida Mortgage Coach
“We Coach You Through the Mortgage Process”
561-432-9237
info@floridamortgagecoach.com
2 votes
Karen Levy, Agent, Mount Dora, FL
Sun May 1, 2011
Work with a local lender that will review your credit with and make suggestions on how to improve your score.

Consider using a local credit union too.

My lender helped my buyer get a few things corrected on their credit report and they qualified for a lower interest rate.

You're on track to buying a home keep working on that credit score. Many lenders look at the middle score.

Take care,
1 vote
Edyta Gryc, Agent, Naperville, IL
Sun May 1, 2011
Avoid being late with your payments, required min. payments should be paid on time.
0 votes
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