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Question By
honey86

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Im trying to higher my credit score from a 565 to 580 so I can be able to apply for a FHA loan
i would like to know how to boost my credit score from 565 to 580 to be able to qualify for a FHA loan toward my first mortgage. I also wanted to know if I have a good chance of being approved for a FHA loan with a 580 credit score?

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The only quick changes that benefits most people is paying down your balances. Without seeing your report or knowing your situation it's hard to advise. The most I can say is lower your balances to the 10-20% range and be sure you pay everything on time.

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580 would be the minimum score

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you want to have to apply.  But the higher your score the better rate you will get.

There is no quick trick to raise your scores. Scores look at your credit behavior over the last 7 years so 1 month of changes has little to do with your score.  Without seeing your credit report it would be very hard to suggest any particular behaviors that would help your score right away. 

Hope that helps.

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avrnrgy

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I am pretty sure that credit scores don't affect rates when using FHA, only whether you qualify.  Also, paying down debt is usually the only quick way to raise a credit score.  Make sure your credit utilization is under 30%

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