Zillow Advice RSS: Question-Discussion-Guide,Credit Scores,TX http://www.zillow.com/advice/TX/mortgage-credit-scores/question-discussion-guide/ Zillow Advice search results | Zillow Real Estate Credit Card Debt and Pre Approval http://www.zillow.com/advice-thread/Credit-Card-Debt-and-Pre-Approval/555503/ I have been patiently looking to buy my first home out here in the Midland, Texas area and could have found something that suits me just right. I have toured some houses through either fsbo appointments and others just walked around on my own time or through a realtor who did not require a preapproval.&nbsp; I have visited around 55 homes over the course of 7 months.&nbsp; While getting my financial affairs in order I am at a point where I need to begin the preapproval process.&nbsp; I have read online that I should have done this first but I was hesitant to put time and money into something before I even knew what I wanted in a home or even if it was a home I wanted.&nbsp; WIth the cost of apartments in my area rising and my forecast of staying here for at least 3-4 more years on top of finding something I like I have a question about the preapproval process.&nbsp; I do not have much in the way of credit card debt.&nbsp; I have pretty much maintained a 0$ carryover in any month but my report dates are staggered by about a half a week beyond my due dates for payments.&nbsp; So even though I pay the balance down to 0$ at a point a few days down the road it will show I have x$ in utilization.&nbsp; So I currently have my credit cards all paid down to, 0$, 0$, and 60 something $.&nbsp; I would pay off the 60.xx something dollar one but it is in a pending state for the charge and cannot be paid off until it clears that status.&nbsp; So should I wait until these cards all report this months utilization at 0$/0%?&nbsp; Would a person processing my request for a loan be able to check my current balances? Pretty much sums it up.&nbsp; Let me know if there is anything else I can provide to help answer this.&nbsp; <br/>TL:DR Should I wait for my cc's to report my balances to EQ, TU, EX?<br \><br \>5 replies Tue, 19 Aug 2014 21:09:00 GMT http://www.zillow.com/advice-thread/Credit-Card-Debt-and-Pre-Approval/555503/ 2014-08-19T21:09:00Z I am a 100% disabled Marine veteran with aprox a 580 credit score, can I buy a house? http://www.zillow.com/advice-thread/I-am-a-100-disabled-Marine-veteran-with-aprox-a-580-credit-score-can-I-buy-a-house/533307/ I am working on my credit score, my biggest negatives are medical collections and bankruptcies that were dismissed not discharged. The home I want is near Castroville, TX.<br \><br \>6 replies Sat, 22 Mar 2014 06:30:00 GMT http://www.zillow.com/advice-thread/I-am-a-100-disabled-Marine-veteran-with-aprox-a-580-credit-score-can-I-buy-a-house/533307/ 2014-03-22T06:30:00Z 580 Credit Score....any hope? http://www.zillow.com/advice-thread/580-Credit-Score-any-hope/476130/ My husband and I are trying to purchase a home.&nbsp; Our credit scores are in the 580 range.&nbsp; We live in Texas.&nbsp; Any hope of us finding a lender?&nbsp; We have impeccable payment history, no foreclosures, no bankruptcies.&nbsp; Thanks for your help :)<br \><br \>37 replies Mon, 28 Jan 2013 02:33:00 GMT http://www.zillow.com/advice-thread/580-Credit-Score-any-hope/476130/ 2013-01-28T02:33:00Z Mortgage with bad credit but big down payment? http://www.zillow.com/advice-thread/Mortgage-with-bad-credit-but-big-down-payment/543794/ I have bad credit but sufficient income and able to put down 20%. &nbsp;My scores are 511, 579 and 582. &nbsp;Is there any hope?<br \><br \>8 replies Tue, 03 Jun 2014 02:48:00 GMT http://www.zillow.com/advice-thread/Mortgage-with-bad-credit-but-big-down-payment/543794/ 2014-06-03T02:48:00Z What else should i be doing? http://www.zillow.com/advice-thread/What-else-should-i-be-doing/542091/ I have worked very hard the past year and a half to raise my score from a low 450 to a 610 right now. i want to buy a home. ive talked to 3 mortgage officers who gave good advice, but then disappeared on me when i needed more advice. i have 2 secured cards,1 unsecured, 4 store cards, a car loan all in good standing, besides 1 cc, all balances are under 20%. i have a repo from about 6 years ago that i cosigned for and 2 other charge offs i was told were so old not to pay them off cause it would hurt me. im wondering if it is just a waiting game now to let it go up or is there something i could be doing. i was thinking of adding funds to the secured to raise their limits, but thats all i can think of.<br \><br \>9 replies Thu, 22 May 2014 21:07:00 GMT http://www.zillow.com/advice-thread/What-else-should-i-be-doing/542091/ 2014-05-22T21:07:00Z Looking for a Lender who helps with low mid credit scores http://www.zillow.com/advice-thread/Looking-for-a-Lender-who-helps-with-low-mid-credit-scores/542799/ My husband has a mid score of 599. Looking for a Lender to help us get approved for on a FHA loan.<br \><br \>5 replies Tue, 27 May 2014 22:51:00 GMT http://www.zillow.com/advice-thread/Looking-for-a-Lender-who-helps-with-low-mid-credit-scores/542799/ 2014-05-27T22:51:00Z Can I get approved for a mortgage using only paystubs and W2's? http://www.zillow.com/advice-thread/Can-I-get-approved-for-a-mortgage-using-only-paystubs-and-W2%27s/541513/ <div class="comment-body rich-content">I have 2 incomes one is W2 and the other is 1099 and I used a schedule C for deductions on my tax return and now its seems that this is a problem because it shows my net income as being really low and I actually make more.&nbsp; My middle score is 625.&nbsp; Are there any lenders&nbsp;that will approve&nbsp;the loan without the income tax?</div><br \><br \>7 replies Mon, 19 May 2014 19:54:00 GMT http://www.zillow.com/advice-thread/Can-I-get-approved-for-a-mortgage-using-only-paystubs-and-W2%27s/541513/ 2014-05-19T19:54:00Z Can I get a loan with a 600 beacon score? http://www.zillow.com/advice-thread/Can-I-get-a-loan-with-a-600-beacon-score/258101/ I have plenty of cash ($30k) on hand and stocks, 401k, ($80k) etc.&nbsp; We have no debt other than 1 student <a href="http://www.zillow.com/mortgage/">loan</a> and I have access to a VA loan...can I still be approved?<br \><br \>8 replies Sun, 19 Jul 2009 21:16:00 GMT http://www.zillow.com/advice-thread/Can-I-get-a-loan-with-a-600-beacon-score/258101/ 2009-07-19T21:16:00Z Buying a home with bad credit? http://www.zillow.com/advice-thread/Buying-a-home-with-bad-credit/534569/ Me &amp; my husband are trying to buy a home and my credit is at 574 and he has way better credit than I do. BUT we can't get it under his name due to taxes that he doesn't make enough due to being a self contractor. Is there any lenders that would be able to work with us with my credit &amp; also we have good down payment.&nbsp;<br \><br \>3 replies Mon, 31 Mar 2014 19:47:00 GMT http://www.zillow.com/advice-thread/Buying-a-home-with-bad-credit/534569/ 2014-03-31T19:47:00Z Paid old debts but credit report still shows them as unpaid http://www.zillow.com/advice-thread/Paid-old-debts-but-credit-report-still-shows-them-as-unpaid/534560/ Ive been trying to get a VA loan as a first time homebuyer.&nbsp;<br \><br \>7 replies Mon, 31 Mar 2014 18:29:00 GMT http://www.zillow.com/advice-thread/Paid-old-debts-but-credit-report-still-shows-them-as-unpaid/534560/ 2014-03-31T18:29:00Z Should we try to prequalify or wait. http://www.zillow.com/advice-thread/Should-we-try-to-prequalify-or-wait/534108/ My fianc&eacute; and I are looking to buy our first home. He has been at his job for 2 years and has a credit score(on credit karma) of about 630 and brings home $1400/month. He has a loan with Conns but no credit history. I am currently in college with a credit score of 647. My credit to debt ratio is about 34%. In February I was laid off from my job of 1 and a half years so I'm on unemployment now($800/month) while just finishing off this semester in school and trying to look for a job that'll work with my school schedule. Should we try get pre qualified for a house loan or just wait a while while building up our credit scores? And will my credit score/income even help since I'm unemployed?<br \><br \>5 replies Fri, 28 Mar 2014 02:51:00 GMT http://www.zillow.com/advice-thread/Should-we-try-to-prequalify-or-wait/534108/ 2014-03-28T02:51:00Z What can I do to get more (or better) quotes for my loan request ZR-RBRMBNV? http://www.zillow.com/advice-thread/What-can-I-do-to-get-more-or-better-quotes-for-my-loan-request-ZR-RBRMBNV/533889/ I am a newly minted MD from Michigan Med School starting my Internal medicine residency in Dallas at UTSW.&nbsp; What credit I have is strictly "A"&nbsp; however I have never had a car loan or any loans.&nbsp; MY USAA Insurance, Rental company, and utilities and medical premiums have always been perfect.&nbsp;&nbsp; <br/>How can I improve my score as I want to buy a condo.&nbsp;&nbsp; I have the 20% down payment to $40000&nbsp;&nbsp; and no debts due&nbsp;in the next 4 - 5 years as my student loans do not kick in until after my residency and cardio fellowships....&nbsp; my&nbsp;1st yr residency salary is $56,000 starting July 1, 2014.&nbsp;&nbsp; &nbsp;<br \><br \>5 replies Wed, 26 Mar 2014 17:21:00 GMT http://www.zillow.com/advice-thread/What-can-I-do-to-get-more-or-better-quotes-for-my-loan-request-ZR-RBRMBNV/533889/ 2014-03-26T17:21:00Z Mortgage loan http://www.zillow.com/advice-thread/Mortgage-loan/530970/ I'm in San Antonio TX ...my husband and I want to purchase a home. Our credit scores are 644 and 648. We filed chapter 7 2 1/2 years ago. Can we get financed? If so what bank? We want to get pre qualified so we can purchase a home before our lease is up in about 5 months.<br \><br \>6 replies Wed, 05 Mar 2014 01:18:00 GMT http://www.zillow.com/advice-thread/Mortgage-loan/530970/ 2014-03-05T01:18:00Z Where do mortgage companies get my credit score? From all 3 bureaus, or just one? http://www.zillow.com/advice-thread/Where-do-mortgage-companies-get-my-credit-score-From-all-3-bureaus-or-just-one/453018/ Will mortgage company pull a score from one of the Big 3, or from all and take an average? &nbsp;Or does FICO spit out yet another score?<br/><br/>According to FreeScore.com (which is NOT free), my credit score is reported differently by the three major credit bureaus, and there is a sizable spread between the numbers -- almost 60 points, and with the highest of the three, I would be considered "excellent" and the others I am only considered "good." &nbsp;<br/><br/>While a "good" rating will still qualify me for the ca$h out re-fi that I am looking for, the rate and/or points may be better if mortgage companies use only (in my case) Equifax.<br/><br/>Please do not suggest that I wait to apply while I work to polish up my credit. &nbsp;I just need an answer to the question posed.<br/><br/>Thanks in advance.<br \><br \>11 replies Sat, 28 Jul 2012 08:19:00 GMT http://www.zillow.com/advice-thread/Where-do-mortgage-companies-get-my-credit-score-From-all-3-bureaus-or-just-one/453018/ 2012-07-28T08:19:00Z What do we need to do to qualify to buy a lot then eventually get approved new construction loan? http://www.zillow.com/advice-thread/What-do-we-need-to-do-to-qualify-to-buy-a-lot-then-eventually-get-approved-new-construction-loan/488140/ Wife and I had some credit card debt and fell behind. Well 82k of 96k in unsecured debt will be paid off in 2 weeks and all 96k will be paid off in 5 weeks. Only debt we are haven't hen is one truck payment. We both make good money, and now that we sold our house will basically have no debt. Problem is her fico dropped from 721 to 595 due to the 3 cards that went 120 days late. All 4 accounts will be settled in 5 weeks. My score has already rebounded to 692. So i have 2 questions. 1. How hard will it be for us to get approved for a $59000 vacant lot loan if we make $160,000 annually combined with just one auto loan? 2. How hard will it be in 2-3 years to get approved with a new home construction loan amount around $350,000 with a lot that is paid for and about $100,000 in liquid cash for a down payment? Can her credit score rebound that quick? Any advice appreciated.<br \><br \>3 replies Tue, 16 Apr 2013 05:46:00 GMT http://www.zillow.com/advice-thread/What-do-we-need-to-do-to-qualify-to-buy-a-lot-then-eventually-get-approved-new-construction-loan/488140/ 2013-04-16T05:46:00Z How long will we need to wait to purchase again after short sale? http://www.zillow.com/advice-thread/How-long-will-we-need-to-wait-to-purchase-again-after-short-sale/518763/ After moving to another state due to job relocation, we made the choice to complete a short sale on the home we were selling. &nbsp;It's been a few months now, and we are trying to pick up the pieces and rebuild our financial situation. &nbsp;We have heard that new regulations may pave the way to us getting a home loan sooner than the 2-3 year window we were given before, but I can't really see any concrete information on that prospect. &nbsp;And in the meantime, what can we do to prepare our credit information for qualification? &nbsp;We have a good history, having bought and sold home several times before, we just couldn't get what we owed on this home due to declining value in the area. &nbsp;We have heard conflicting responses, and I thought that it might be good to ask around a bit more before we hang our heads in despair. &nbsp;<br \><br \>9 replies Tue, 12 Nov 2013 19:17:00 GMT http://www.zillow.com/advice-thread/How-long-will-we-need-to-wait-to-purchase-again-after-short-sale/518763/ 2013-11-12T19:17:00Z Can Get loan with no credit score?. http://www.zillow.com/advice-thread/Can-Get-loan-with-no-credit-score/523686/ As a new immigrant can I buy a home without any credit score by mortgage instead of renting?<br \><br \>6 replies Wed, 08 Jan 2014 00:24:00 GMT http://www.zillow.com/advice-thread/Can-Get-loan-with-no-credit-score/523686/ 2014-01-08T00:24:00Z How much of a down payment is required for FHA mortgage with bad credit? http://www.zillow.com/advice-thread/How-much-of-a-down-payment-is-required-for-FHA-mortgage-with-bad-credit/431141/ 16 replies Tue, 07 Feb 2012 03:49:00 GMT http://www.zillow.com/advice-thread/How-much-of-a-down-payment-is-required-for-FHA-mortgage-with-bad-credit/431141/ 2012-02-07T03:49:00Z How hard is it to qualify for FHA loan with 626 FICO score? http://www.zillow.com/advice-thread/How-hard-is-it-to-qualify-for-FHA-loan-with-626-FICO-score/477691/ Looking into an FHA for a first time buy. My credit was established within less than a few years. I had a few things come up that I was unaware of and took care of them. But regardless they are still there. I also started and finished a credit builder loan and applied for a credit card through my bank. They only gave me a $500 limit and that was 5 months ago. I have no debt and no balances. <br/><br/>Is this enough to qualify for the loan? And are there other ways to improve my score. I've read about paying balances off and staying current but none of that applies to me. I've only had the card for 5 months so I'm not sure enough time has passed to ask them to increase my limit. Any other suggestions for raising my score? <br/>Thanks!<br \><br \>11 replies Thu, 07 Feb 2013 17:17:00 GMT http://www.zillow.com/advice-thread/How-hard-is-it-to-qualify-for-FHA-loan-with-626-FICO-score/477691/ 2013-02-07T17:17:00Z How To Improve Your Credit Score http://www.zillow.com/advice-thread/How-To-Improve-Your-Credit-Score/511523/ <img width="250px" height="200px" imagetype="8" uploadtype="new" imageid="X1-IAf4pxg4mapd421000000000_nltti" src="http://photos1.zillow.com/o_a/ISxj9ci4mapd421000000000.jpg"/><br/>Improving your credit score in 2013 may be an easy way to improve your overall financial scorecard. Doing so may help you get approved for loans and lower your interest rates and insurance premiums. <p>The following steps may improve your credit score in 2013:</p><p><strong>Pay on time.</strong> Payment history is one of the most important factors used to calculate your credit score, so consistently paying on time may be a way to boost your score if you have missed payments in the past.</p><p><strong>Reduce debt-to-credit ratio.</strong> Focus on paying down the amount you owe on your credit cards so each one has an available credit of at least 50 percent. Doing so improves your debt-to-credit ratio and in turn may improve your credit score.</p><p><strong>Use more than one type of credit.</strong> Your score is built around both revolving (ex. credit card) and installment (ex. mortgage loan) credit. Having both types in your credit history shows you can responsibly handle multiple kinds of credit, and in turn may improve your score.</p><p><strong>Stick with the accounts you have.</strong> Opening new accounts just to increase available credit means new inquiries on your credit report, which may lower your score. On the other hand, avoid closing accounts you already have, even if you don't use them that often. Doing so can negatively impact your debt-to-credit ratio and credit history -- both of which are used to calculate your score.</p><p>Are you in the process of getting your credit ready for a home purchase? Contact your local me to get more information about financing and the homebuying process.</p><br \><br \>0 replies Mon, 16 Sep 2013 13:28:00 GMT http://www.zillow.com/advice-thread/How-To-Improve-Your-Credit-Score/511523/ 2013-09-16T13:28:00Z