my wife and i want to buy a home in port st lucie, and we have $12,500 for down payment but our credit score

Asked by J.a.a, Sun Apr 13, 2008

are 428 and 511. can anyone help?

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j shepherd, Agent, Fort Pierce, FL
Mon Sep 9, 2013
If you do have credit issues and need help cleaning it up....Seacoast Nat'l Bank offers a service to guide and direct you for a successful credit score to buy a home.

Grace Monforte 772-485-7479

Ellen Faulk 772-879-3205

Both are financial officers at Seacoast...and are a great source for financial information.
0 votes
Deborah Madey, Agent, Brick, NJ
Fri Oct 10, 2008

With credit scores at 428 and 511, it is improbable that you will be buying in the immediate future. If you have any judgments or collection accounts, these will need to be cleared before you can buy a home. If you have no collection accounts or judgments, is your score being impacted purely by past slow pay? If that has been the primary pull against your credit, prompt pay on your current accounts, reduction of the balances and keeping the balances far less than the credit limits will help.

Be up front with Realtors about your situation and let them know that you are interested in familiarizing yourself with the Port St Lucie market now, so that you know what you want when the time is right for you to buy. Allow the agent the oppty to work with you and balance current clients who are ready to buy. This courtesy will provide a win-win relationship for you and the Realtor. Don't mislead agents into thinking that you are ready to buy now. Agents will want to help you achieve your goals, and understanding your situation is key to coordinating your efforts for the best results. You can utilize your prep time to read through links and listings with the help of an agent, preview properties, and attend open houses.

Port St. Lucie is a great community…….with affordable housing options.

Sign up for a service that allows you to regularly access your credit file, and closely monitor your score. Keep saving, and home ownership will be in your future.

Good Luck,
Deborah Madey - Broker
Florida and New Jersey
0 votes
Diana Leever…, Agent, Vero Beach, FL
Fri Oct 10, 2008
Don't listent to TIFFANY CHICHESTER from Brooklyn, NY! I moved to South Florida in 1985 (from PA & NY) and moved to Port St. Lucie in 2004.

The only regret that I have moving to Florida is that I didn't move sooner!
There are disasters in every part of the world. Florida is still paradise compared to many States. Any state that borders the Atlantic Ocean (including the entire Northeast Coast) and the Gulf of Mexico has a slight risk to get hit with a hurricane/tropical storm. At least you can prepare for a hurricane! Tornados are very common in the time to just happens! Are Ice Storms better???????

Home prices now in Port St. Lucie gives you more value for your money than many Northeast States! This is the time to buy a home! FHA may be the path you take for your financing. Much more forgiving of your credit scores if you can show income & a reason for your credit score. FHA now is around a 580 score. You can ask the seller to help with closing costs (from 3% to 6%.). Don't get are not far off from buying your new home!

If you have any other questions or concerns, please feel free to contact me!
Web Reference:
0 votes
M, , Florida
Sun Apr 13, 2008
Here is a helpful link which clearly (maybe even a little brutally) explains the credit score "ranges" and how lenders may possibly look towards lending to you. Hard facts, be positive and come to grips with how you got yourself into this situation. If you have made corrections to your financial lifestyle, then maybe be bold and look for other avenues; like owner financing. Port St. Lucie is not an expensive community and the market is in your favor. I don't want to give you any false hopes...I also don't believe in ever saying never.
Best of Luck. If you need help locating a property and maybe owner financing, call me.
The Schaffer Realty Group
Marian Schaffer
0 votes
Sandy Shores, Agent, Melbourne, FL
Sun Apr 13, 2008
Contact a lender located in the area in which you are interested in purchasing. They would be best qualified to let you know if homeownership is a possibility for you at this time. If the answer is no, then they can advise what you must do in the future to help repair your credit score. Thus, preparing you for a home purchase in the future.

Best wishes.
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