Hello, I read through some miscellaneous threads to try and find some info to help me on my situation, and while finding some stuff, I decided I'd just make a new one which exactly describes my situation and see if anybody can give some suggestions to help me. My wife and I are looking to get a home loan around the end of June (yes, I know, coming up soon!). I pulled my credit score the other day and it was 639. Last time I checked (beginning of year) my score was about 10 points higher, but when the credit score took the snapshot of my accounts it had my 2 main cc's close to maxed out because of honeymoon/wedding expenses(lots of which are paid off now). At the time my used revolving credit was at 50% (at the start of next month it should be close to 30%, and by the beginning of July (hoping we can wait til' then for to do the loan stuff), it should be around 10%. The other negative items on my account are 5 hits for credit cards i applied for last year (they all go bye bye except one by June 22), and a 30,60, 90 day deliquency on a student loan I forgot to pay a few months in a row for some really stupid reason 4 years ago when I first got out of college(haven't missed a payment since) The only other negative item my account shows is lack of credit history because I have only had cards for 91 months, which I find odd because one of my wife's positive factors is relative long history of credit with her oldest card being 80 months old...shrug... Anyways, looking for any information anybody could give on helping me get this score go up as much as possible in the shortest time possible(yes, i know, everybody wants to do this and it's probably not all that possible). I would _love_ to get a 680 score by the time we get this loan, but just not sure it's possible. Any suggestions would be GREATLY appeciated. Thanks a lot.
First off ... do you know all 3 of your scores? I've just gone through some refinancing and I was told be each mortgage broker I talked with that they will use the "middle" score. To get a good idea where you are get all 3 scores. Next, do you have any "recent" lates? Many brokers use a check-off list and they look for recent lates (anything in the last 12 months). As far as increasing your score the most (everyone is a bit different depending on thier own set of tradelines) I found that reducing my outstanding debt on charge cards seemed to have the most bang for the buck. If your able to get negative tradelines removed those can have the most positive effect to your FICO score. Good luck
First off ... do you know all 3 of your scores? I've just gone through some refinancing and I was told be each mortgage broker I talked with that they will use the "middle" score. To get a good idea where you are get all 3 scores. Next, do you have any "recent" lates? Many brokers use a check-off list and they look for recent lates (anything in the last 12 months). As far as increasing your score the most (everyone is a bit different depending on thier own set of tradelines) I found that reducing my outstanding debt on charge cards seemed to have the most bang for the buck. If your able to get negative tradelines removed those can have the most positive effect to your FICO score. Good luck
Only got my equifax score..in trying to improve my score i'm trying to save money, and 20 bucks i spend on the other 2 scores would be 20 bucks i can throw at my debt.. i have nothing late in years(just double checked, it's been 3 years, not the 4 i said earlier)... is there any way i can get those late things removed, or do i just have to wait the "up to 7 years" it talks about ? any other help would be great. thanks !
