Working on credit need some advice

My score the last time i checked(last year) was around 540 or better on all three reports, if I worked on and cleared up all negatives on my report, whats the best score i'm looking at? I'm hoping to be in the lower 600 in a year if possible,am I aiming too high? Since then the 2 active accounts I have i've never been late ,this is 1 credit card and my car note which comes out automatically.I have no bankruptcies on my report, but there are charged off credit card debt which i have begun to work on.They are at least 5 years old,I have settled 2 cc accounts last year, How will this effect when looking for a FHA mortgage?
  • September 16 2011 - Philadelphia
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Answers (4)

This firm doesn't charge much. They're a credit reporting agency and will provide a lot of guidance: http://availcoach.com/availworks.html

Happy funding, Rudi
  • September 16 2011
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Hi again, Chuckie.

If you are having issues with your credit, please let me know.

I have a reliable contact that will do a free credit consultation, and he is very reasonable once he finds out what needs to be cleaned up.

Shoot me an email if you need any more help.

Best,
Tim
  • September 16 2011
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Profile picture for jeanyh
Hi Chuckie,

Here is a link from our website on how to improve your credit score.  Thought the information would be helpful.

Good luck with everything.

Jeany
  • September 16 2011
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Profile picture for shawderek
Hi Chuckie,
First, if you checked your score using a consumer report (one of those free ones online), your score is generally higher than on a report a mortgage lender would pull.
The older an item is on your credit report, the less impact it has on your credit score as well. The most important thing you can do is to stay on time and current with whatever you have open right now.
Regarding an FHA mortgage, it depends on your lender. Many lenders that I work with need a 600 or 620 middle score to get your approved with a 3.5% down. Few can go to 580 with 10% down.
Here is link with some very good information on how credit scores are calculated as well: [website removed by Zillow moderator]
Feel free to call/email with any questions.
  • September 16 2011
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