You are NOT ready to call a loan officer. Be very careful about following that kind of naive advice. If there are "issues" on your credit report that need to be dealt with, then it needs to be done before you have a loan officer pull your credit report. Only an experienced Realtor can advise you without you getting in trouble at the mortgage company. Here are some tips. (I'll give you the rest when you meet with me for a free consultation.)
> You cannot combine a good credit score with a bad credit score and make everything "OK". If both people's income is on the loan application, then BOTH people have to have good credit scores.
> If your student loan shows late payments, you are in serious trouble. It will not be accepable for an FHA loan. ALL payments in the last two years need to be on time.
> Accounts that have been in collection "for years" may be about ready to fall off your report. Sit down with a credit counselor, and see what you can do to clean up your credit report. (I am an Instructor Certified in Credit Repair. Perhaps I can help you.)
> You asked "Should we just wait?" ---NO! Waiting around and doing nothing will not improve your credit score. You need to be proactive. You need to add 3 good credit references to your application file. Get to work on it right away!
Contact me directly and I am sure I can help you.
ULTRA Real Estate Services