Zillow Advice RSS: Question-Discussion-Guide,Credit Scores,PA http://www.zillow.com/advice/PA/mortgage-credit-scores/question-discussion-guide/8000-tax-credit/?s=0 Zillow Advice search results | Zillow Real Estate First time homebuyers trying for tax credit with FICO les than 620. Repair possible before Nov 30? http://www.zillow.com/advice-thread/First-time-homebuyers-trying-for-tax-credit-with-FICO-les-than-620-Repair-possible-before-Nov-30/279388/ We are looking to secure an <a href="http://www.zillow.com/fha-loan/">FHA loan</a>. However, we recently&nbsp;received our credit reports and found out that I have a <a href="http://www.zillow.com/mortgage-glossary/FICO/">FICO</a> score of 606 and she has&nbsp;a score of 560.&nbsp; If I pay my credit cards down to 30% of their max and provide credit agencies with accurate information showing that I paid off two accounts 3 years ago which still shows on my report as unpaid, will that&nbsp; give me a good number of points to increase my score to 620?<br/><br/>The major&nbsp;problem (we think)&nbsp;is with her score. We found on her report that a <a href="http://www.zillow.com/mortgage/">loan</a> we paid off 4 years ago for a total of around 25k is still open. If she has this removed or has it show that it is closed, what kind of increase (if any) in her score&nbsp;can we expect? She currently does not have any credit cards in her name.<br/> We are anxious to raise our scores in order to receive the $8000 tax credit. We would really like to use it&nbsp;towards the down payment. So this is a time sensitive issue.&nbsp;Should we use a credit repair agency? If so would a non-profit or a BBB rated repair agency be better? Thank you in advance for reading and replying to all&nbsp;of my lengthy questions<br \><br \>0 replies Wed, 16 Sep 2009 17:36:00 GMT http://www.zillow.com/advice-thread/First-time-homebuyers-trying-for-tax-credit-with-FICO-les-than-620-Repair-possible-before-Nov-30/279388/ 2009-09-16T17:36:00Z