how long should you be repairing your credit before applying for a mortage?

Answer 1

until its acceptable

Answer 2

It doesnt matter how long you are repairing your credit for but rather what state your credit is in. Not state like Ohio or Florida but like poor, fair, good, excellent. I raised my score 101 points in exactly one year. I think that is pretty good and all I did was pay off my credit accounts and close the ones I didnt need. It really helped.

You can get one free credit report every year so go to (i think) www.annualcreditreport.com and you shouldnt have to sign up for credit monitoring or any of that so make sure you find the right site. See what accounts you have that need paid off (pay the accounts with the higher interest rates first as they are costing you the most) and what accounts you can close. You can close accounts that still have a balance but make sure there are no extra charges or penalties for closing it with a balance even tho you will still make payments.

Good luck!

Answer 3

I want to say as long as it takes. However long it takes to get your score to 650 or better is as long as I'd recommend because a mortgage is a long term commitment and depending on the price of the home even 1/2% less interest can equal thousands of dollars over the life of the loan. You may want to try repairing your credit yourself which is alot easier than it sounds and if it goes well your score can shoot up quickly, check out http://creditwisdom.blogspot.com/2006/09/raising-your-credit-score.html for tips on raising your credit score.

Answer 4

24 months is the magic number! You need 2 years of credit stability to earn the very best interest rate possible for your "rehabilitation" efforts.

Answer 5

In short yes

Answer 6

you should spend at least 6 months, trying to repare your credit
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