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I have zero credit cards & deferred student loans if I buy a car with 30%down or get a credit card

I am wanting to buy a home with zero Debt on credit No credit cards and only student loans that are deffered. Should I obtain a credit card or buy a car with 30% down payment to increase my credit score?
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June 13 2012 - Winston-Salem
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You should certainly heed Ms. Hamilton's advice and seek advice of a qualified loan officer that can assist you in your planning.

There are several factors that will impact your options.  Yet, depending upon your current income, the amount of home you wish to purchase and the amount and types of credit that you open in your name your results may vary.

It would be very wise to consult with a licensed mortgage professional in your area so that you can reach your goal.
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June 18 2012
Contact a qualified loan officer in your area.  They can run your credit score and give you the best direction on how to increase your score.  In some cases lenders can use past rental payment history and utilities but it varies from state to state. 

Sincerely,
Renee Hamilton
Hoover, AL Realtor
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June 13 2012
 
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  • Asked by user1941840
  • In Mortgage
  • June 13 2012
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