Profile picture for sandraj0429

NYC FHA Loan - Working on Credit

I would like to get an FHA loan to buy a home in Queens preferably in Laurelton. I am currently working on fixing my credit score, My scores are 511 508 541. I am currently involved with Sky Blue credit repair, and I'm wondering if there's any lender or mortgage professional that will lend to me, or will I have to wait until my scores increase?
  • December 03 2013 - Queens
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Answers (5)

Profile picture for sandraj0429
Gene yes, I'm paying Sky blue to repair my credit. I was considering rent-to-own but I heard that it's not really in the best interest of a buyer but more in a seller, is this true?
  • December 04 2013
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As of now those credit score can be hard for most lenders to deal with. The lowest lenders like myself can go is to a credit score of 580. Since those credit scores are below that I recommend that you work on her credit score for a bit to get it to at least 580, or better yet get it to 620 so you will have even more options available to you. The simplest way to fix your credit is to pay off your debt and revolving credit balance on time. I hope this helps and good luck.
  • December 04 2013
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Profile picture for Ed Rorrer
Honestly get it up to average of at least 620 depending on your debt ratio. Ultimately a 640 you would be good!! Good Luck
  • December 04 2013
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You would need to increase your middle score to at least 580. Are you [paying Sky Blue to assist you? This is something we can assist without any fees for the repair work.
  • December 04 2013
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You will need to get your scores up to at least a 580 mid-score.  I strongly suggest getting it to a 600 and at a 620 really opens up a lot more options for you with various lenders and better loan pricing.  Feel free to contact us for options.
  • December 04 2013
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