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Question By
glenayr

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Trying to purchase my first home loan (USDA)
I need my credit score to go up 80 points by sept. I have paid off all debt on my credit report and I was advised to do by the mortage company. My current debt is one credit card which is one credit card at 25$ a month and I'm on 2 credit cards as an au. And I have one prepaid card. All balances are under 20% .
I only make 40 thousand a year and the home I want to purchase is 120 thousand .someone advised me to get a care loan but I don't want my debt ratio to be to high to were I can't be approved for my dream home . please help with any advise

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As long as you're an authorized user on an account rated very good or excellent; that can only benefit you.  Get your credit card to 10% utilization if at all possible.  Your goal in the future is to only charge on your credit cards what you can pay off every month.  Mortgage loan interest is tax deductible on your federal tax return if you file long form.   I have no idea what a "care loan" is. 

You also need to be aware of your debt to income ratio. 

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keep in mind when applying for mortgages they will take into account that you are only AU on certain accounts. although this helps your score, it will not help you meet their tradeline requirements. find out what the exact credit requirements are for the mortgage which you are applying. for instance, it might look like this: 3 accounts, with at least 24 month history on two, at least once account >2500 high credit. 

i fear your credit depth excluding AU trades is very minimal. if i were you, i'd start building credit in your own name if you want to own a home some day. 

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