Is it realistically possible to raise my credit score to at least 620 within a 6 month time frame if it's currently in the 520(l)-540(h) range?

Asked by tiffjanis, Euclid, OH Wed Sep 4, 2013

I am inquiring because I would really like to purchase a home. I currently pay 903.00 per month in rent (comfortably) and would feel much better if the money I paid monthly was going towards my own property. i would only want to purchase a home in the 80,000 to 95,000 range. Is it a "fools dream"?.. oh and I have a company helping me clear up the inaccuracies in my reports as they are the reason for the bad scores.

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Thu Sep 5, 2013
If you have credit issues the last thing you want are inquiries right now. There's a program out there... it's $24 a month BUT..... they give you a copy of your credit report(s). They also immediately tell you what you can do to raise your scores. There's no long term commitment. So, you get a soft pull rather than a hard pull one time (or stay with the program and they'll keep you updated on your scores) anyway, you do it one time, get the info you're looking for (how to get your score up) and you can cancel. A hard pull will affect your score by a few points and lenders, we are considered hard pulls. Soft pulls don't affect credit. From there you contact a lender when you're where you need to be. Like Melissa said, you can get a loan with down to 530 (that's as low as I can go) but there are overlays and it's sometimes hard to meet the requirements. Costs more too, higher rate and higher cost for rate and larger down payment is required. The higher your score the better the terms. Besides any accounts you begin working on you want to make sure they definitely will benefit your score, not the opposite. If you have add'l questions I'd be happy to help. Best wishes, Kim Lawson, Ohio licensed Mortgage Loan Originator. Contact and licensing information can be found on my profile.
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Good Answer Kimberly. This is exactly what I was going to explain to her myself. The Iqualifier is one choice. Depending on what items are on the credit would give me an idea on what route to go with her. She contacted me today so hopefully we can get it worked out.
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Cecilia Sher…, Agent, Rocky River, OH
Wed Sep 4, 2013
It really depends on what is on your credit report and how much you can fix, etc. It is definitely possible to bring it up 100 points or more within a few months.

If you need assistance, I can have you connect with a great lender in the area. She will guide you through all the steps and help you boost your score. I can also help you find the perfect home once we're ready to go.

I'm always available!

Cecilia Sherrard
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Melissa Adams, , Columbus, OH
Wed Sep 4, 2013
Yes it is realistic to get your scores up in a 6 month period or less. Depending on what is on your credit will tell me what exactly you need to do. We have a program where we can pull your credit and do a score wizard. A score wizard will tell me exactly the steps you need to take to gain 100 points on your credit for example. If you have collections you may need to do settlements or pay them off and ask the creditor to delete them. Its very tricky when paying off collections because once they are paid they could lower your score because they are now reporting recent. That is why its a good idea to use the score wizard. Without using it its a gamble on whether or not you increase or decrease your score based on which ones you payoff. Another thing people don't realize is having a credit card up to the limit dramatically lowers the score. A good idea is to use a third or less of your high credit limit. Over that and the scores starts dropping.

I would be happy to help you with getting your credit scores up. I also have a program available to us that will give you a new score each month as you work on the credit report doing the things we advise you to do. It may not happen overnight depending on what is on the credit today but my past clients have seen dramatic results in just a few months.

If you would like my help feel free to contact me at 614-989-4812. I'm local to Columbus area. I will go over your credit line by line and see what we can do to help get you on your way to homeownership.

By the way the minimum score for approval is a 560 with 10% down. A 580 with 3.5% down. A 620 you can qualify with a zero down loan depending on your area you want to live and your income or if you are a veteran it doesn't matter what area.

You can also check out our site.

Melissa Adams
Senior Loan Consultant
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James Deskins, Agent, Worthington, OH
Wed Sep 4, 2013
That's a big jump in 6 months. I'd say it's possible, but not likely. But I'm not a lender.
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