Credit Advice

Have a question? Have advice to share? The combined knowledge and experience of everyone in the Credit Karma community can help you. Enter your question or help others below to get started!

Question

Posted in Mortgage
Profile Image

Question By
pdreamer

0 Contributions
0 People Helped
How can I get 30 points to buy a home ASAP?
I made all the usual mistakes. Bought a fancy Jag right out of school for my husband. Lost the car and the husband (six years ago). Lost my job about 5 years ago and left a few bills unpaid then too. Got behind on student loansb (90 days). Recently consolidated them (last month) and went on an IBR plan so in the clear there.
And out of nowhere I found my dream home a couple months ago!! Found a lender who will finance me with %10 percent down at a 4.25% interest rate if I can just get from my current 560 to a 590! I have a car loan, paid on time every month for 10 months. Just got a credit card and charged like $30 on it just to establish a revolving credit line. Wrote all three credit bureaus and disputed everything I could a couple weeks ago. And now.....I'm at a loss of what else I can do. I'm already paying all my bills on time. Have been for 4 years now except for the student loan issue that is now resolved. Everything else on my credit report is OLD as in 4-5 years old. I'm hesitant to contact them to pay as I've heard that can actually make the debt current and your credit score WORSE. Is there anything else I can do other than just wait? I'd hate to lose this house over 30 points.

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW
All Responses

Result 1-1 of 1Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next
Top Contributor
1793 Contributions
3028 People Helped

Well based on the info above  dont hold your breath on getting those 30 points any time soon.

with all that is happening on your credit report thinking it would take you somewhere between 8 months and a year to get your score up to maybe 600,  but that is a big if.

Best thing to do is work on cleaning up your credit report and hold off on looking for a house until you get up above 675.

Sorry

Result 1-1 of 1Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW

Reply to this Question

Write your response:
Enter Your Comments

The Credit Advice pages of the Site may contain messages submitted by users over whom Credit Karma has no control. Credit Karma cannot guarantee the accuracy, integrity or quality of any such messages. Some users may post messages that are misleading, untrue or offensive. You must bear all risk associated with your use of the Credit Advice pages and should not rely on messages in making (or refraining from making) any specific financial or other decisions.