I am looking to buy a house, score is 580, but improving no past due accounts or collections. I have a strong cosigner. Any Hope?

Certainly, there is hope. There are lenders out there willing to make FHA loans with a credit score of 580, but you don't want to do that, especially if your score is climbing. Even with a co-signer, lenders use the lowest middle score, which would likely be yours and not the co-signer. The lower the score, the higher the rate because these lenders add premium pricing (or hits) in calculating their interest rates to account for the added risk of a low score borrower. Your best bet is to work with a local Mortgage Banker/Broker to develop a plan to rapidly increase your score. I have been able to add 75+ points to a borrower's mid score in as little as 15 days. Of course WHAT needs to done in your case will determine the time frame. Once your score is 620 or better you have opened up a whole bunch of lenders with much better pricing. Get your score to 640 and you will have access to all of them at the best pricing. ~ Bert Carpenter, The LoansA2z team of NOVA Home Loans ~ NMLS 40586 ~ Licensed in California and Arizona ~ www.LoansA2z.com 888-889-9950

it is possible, question, why is there a 580 score? do you have any open accounts? any active on your accounts? what is your income like compared to your debts? linda you can email me at yourloanpartnerforlife@live.com

Yes, there is absolutely hope. There are things that can be done to improve your credit score. Some lenders offer credit expert, wherebyafter they have pulled your credit they will input how many points you are trying to improve your score by and it tells you what needs to be done in order to get to that score. I have used this in the past with great success. You need to find someone familiar with credit and that will take the time to work with you. I only lend in Florida, otherwise I would be glad to help you. With no past due accounts or collections you will get there. All the best to you. Linda Burek, First Choice Mortgage. 4755 East Bay Dr., Clearwater, FL 33764. 727-530-9404 lindab1stchoice@hotmail.com. NMLS #310096

If you have collection or charge off accounts that were reported more than 12 month ago, I do not recommend paying them while you are trying to increase your score. That can actually drop your score, at least in the short run - longer term it is a good plan. Paying those less than 12 months old should help, as will keeping the balance on any credit cards you have less than 30% of the limit in the card (it's not the $ amount you owe, it's the % of what you have available to you). Any new accounts such as a car loan will drop your score until it has been open long enough (gnerally 1-2 years) to establish a track record. if you will email me at pdumouchel@primelending.com I can send you some additional information - and I do work in WI. Or check out my blog on this site. Ideally you should find a knowledgable mortgage lender you want to work with, let them review your credit and give you suggestions and direction. Not all are particularly good at giving this guidance. Make sure you resist the urge to open any new charge accounts at this time of year.

What is your timeframe to buying a house? I'm in WI and we have a program that has helped many people raise their scores so they can buy a house a good interest rates. Reviewing your credit report and seeing what all is influencing the score is the only way to make a plan. My office is on Brookfield, WI. Call me if you would like to make a plan to improving your score and get you into a house. Ritchie Baumann 262-754-3331

Have you been scammed be in process of trying to get a loan from fake lenders? Are you in debt? Do you need a loan to start up a new business? Are you financially break down, Do you need a loan to buy a Car or a House? Have you been turn down by your local bank in getting finance? do you want to improve your financial? do you need a loan to pay off your bills?..Search no more, as the SPARK FINANCE SERVICES is welcoming you the opportunity to get all kinds of loan you need at a very affordable interest of 2.%. for more information contact us now via email at sparkfin@cash4u.com . For your Loan Package.Complete and return the information below so we can proceed with the loanapplication:Name:CountryAddress:ZIP Code:Loan Amount Needed:Duration:Mobile number:Come back to us with this information now.C.E.OMr. Don Sparker.