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Answers (3)
- Harold Sharpe, "Harold Sharpe"
- Contributions:24
Hi Jmmcac_jqn
Raising your credit score is important.
You need to get some free advice online to raise your credit score.
It sounds as though it may take some time. Depending on what you have on your credit reports, you may be able to do it sooner rather than later.
Consult a lender and usually they can help you as well.
http://www.southern-california-home.com/raise-your-credit-score.html
Harold Sharpe
So Cal Homes Realty
Raising your credit score is important.
You need to get some free advice online to raise your credit score.
It sounds as though it may take some time. Depending on what you have on your credit reports, you may be able to do it sooner rather than later.
Consult a lender and usually they can help you as well.
http://www.southern-california-home.com/raise-your-credit-score.html
Harold Sharpe
So Cal Homes Realty
- wayne lancaster, "funds2"
- Contributions:1177
Wetdags gave you excellent advice. Unfortunately, not everyone is in a position to buy a home. Your goal of doing a-d will make that happen, as there are no short cuts or magic solutions. It is likely to take you a year or more to accomplish that but homeownership is worth the sacrifice. Be disciplined and stick to the plan, and your family will enjoy the benefits. Good luck.
- wetdawgs
- Contributions:26830
Before you buy, you will have to get your credit scores up to at least >620 and probably >640.
Aspects of improving your credit:
a. Pay everything on time, this includes utilities, rent, credit cards, taxes etc.
b. Pay off old debt. If it is approaching age of not being reported, do the honest thing and pay it off.
c. Minimize your use of future debt so that your use of debt is less than 20% of possible.
d. Live way below your means so you can accumulate a minimum of a 3.5% down payment, closing costs and a slush funds for house repairs and maintenance.
Get a copy of your credit report (free once a year for each of the three agencies) so you know what is reported. If there are errors, get them corrected.
Aspects of improving your credit:
a. Pay everything on time, this includes utilities, rent, credit cards, taxes etc.
b. Pay off old debt. If it is approaching age of not being reported, do the honest thing and pay it off.
c. Minimize your use of future debt so that your use of debt is less than 20% of possible.
d. Live way below your means so you can accumulate a minimum of a 3.5% down payment, closing costs and a slush funds for house repairs and maintenance.
Get a copy of your credit report (free once a year for each of the three agencies) so you know what is reported. If there are errors, get them corrected.
Husband & I are 1st time homebuyer, but with poor credit
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