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I don't have great credit,How do I go about fixing this? Will want to buy in the near future?

  • December 31 2013 - Carrollton
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Answers (7)

I can connect you with a credit guy if you are still looking to improve your credit. Give me a call or text me.

Good luck! 

  • March 19
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Profile picture for gator70
Read all the data on credit boards dot com, or My Fico dot com forums
  • January 03 2014
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It is near impossible buying a home without a credit score, unless you are a foreigner; there are foreign  national loans with 30% down. But if you have a social security, the easiest way to start establishing credit is to go to a local bank, and open a secured credit card, where you deposit the amount of the credit limit and the bank gives you a credit card of those funds, NOW the key is to use credit SMART.
Once you have any credit card use up to 30% if you credit line is $1,000.00, Use ONLY $300.00 make the small payments a month ON TIME, never be late. 
 
Once you have one credit line, you want to go apply for 2 more, like a department store or hardware store. 
 
You need a minimum of 3 OPEN credit lines, with favorable credit payment history. 
One of the fastest way to establish credit, is to have someone you know that has had a credit card, perhaps your mom or a close relative, make sure is NOT a high credit card limit with a high balance (otherwise this will affect your income to ratio), and if they have perfect credit, and have always being on time with their payments. They can add your personal information as a user to it, and within 30 to 60 days, that credit history from that particular credit card, will attach to your social security; BEWARE if it is NOT GOOD credit, the bad credit will attach too.
Some lenders could also use alternative credit such as light power bill, water bill, cell phone bill, insurance bill, etc.
  • January 03 2014
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Hi,

If you are working with a realtor, he/she probably has a lender of choice. After your lender sees your credit report, they will probably provide free credit counseling. My lender can pinpoint the debts/collections that are bringing down my clients' scores the most and suggests which ones to take care first.

Good luck and Happy New Year!
  • December 31 2013
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Pay debts on time...better yet, get rid of your debts if you want to buy a home in the near future.
  • December 31 2013
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Profile picture for USMortgageRanger
Hello,

If you are looking to purchase a home in the up coming year then we should be talking and working on clearing up any ambiguity within your credit profile. When i work on it for you it will be no cost to you, so what do you have to loose but a few minutes of conversation. Give me a call.

Lowell
  • December 31 2013
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Profile picture for wetdawgs
If you don't have great credit, you need to figure out why it isn't great, develop an action plan to improve it and then follow the plan.

Here's a link to an article from Zillow on "understanding credit scores".

  • December 31 2013
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