buying first home score at 575 need 580 for 100%
2006-08-02 10:53:54 · 7 answers · asked by SAD 1 in Business & Finance ➔ Renting & Real Estate
They do have Rapid Rescore programs available. They are expensive, though. Talk to your Mortgage Rep about this.
2006-08-02 11:35:30 · answer #1 · answered by amkornele 3 · 0⤊ 0⤋
I just payed off a credit card recently. What the rep told me was to wait for about 30 days after the last payment I made and get a letter from them stating that I had payed it off. This way you'll have some proof that you paid it off. And also just in case it doesn't show up as paid on your credit score. Which the rep said can happen.
2006-08-02 11:01:19 · answer #2 · answered by Na5454 2 · 0⤊ 0⤋
I know a bank that will do 100% at a 575 score as long as you can prove your income with last year's W-2s and pay stubs from your job
2006-08-03 15:19:32 · answer #3 · answered by Jonathan S 2 · 0⤊ 0⤋
The delay is probably a few months.
You might consider paying your cards down further before buying a house - you will be paying dearly for your home loan with that low of a credit score. But it means waiting, which, if you are willing to pay for it, doesn't have to happen, I guess.
2006-08-02 11:02:31 · answer #4 · answered by Polymath 5 · 0⤊ 0⤋
Actually you don't have to get the card completely paid off to improve your score - try to get it down to about 40% of your credit line.
2006-08-02 10:58:30 · answer #5 · answered by Anonymous · 0⤊ 0⤋
Credit bureaus update thier info every 30 days. Don't close the account or you'll mess up your debt:credit ratio.
2006-08-02 10:58:30 · answer #6 · answered by Anonymous · 0⤊ 0⤋
Hi, here you go, it's either one site or the other, tons of info
http://credit-cards.ebookorama.com
and here http://finance.ebookorama.com
you may also pass them around and help anyone get rid of their debts, they always seem to work for that, so spread the karma and get points.
good luck!
2006-08-02 16:36:16 · answer #7 · answered by Anonymous · 0⤊ 0⤋