rebuilding credit

Congratulations on the nice score increase! Credit is one of the most important aspect for getting a home loan. Assuming that is your middle scores, you are now at a level where a few lenders will work with you. Generally speaking, the golden score where EVERYONE will work with you is 640 for government loans (FHA, VA), and 660 for conforming loans (Fannie Mae and Freddie Mac). The next step is to sit down with a local non-bank and personally licensed mortgage Loan Officer. Let them review your personal situation to determine what loan options are available to you today.

Good job.. Keep in mind that, although a good credit score is necessary to purchase a home, there are other important factors as well.. The real question will be WHY?? Why was your credit score so low.. Do you have unpaid judgments? Tax liens?, Foreclosure?, Short Sale? All of these types of credit hiccups can prevent you from purchasing a home.. You really need to apply with a local mortgage professional and let him look at your complete profile. Having the ability to see the complete picture, he can guide you to the necessary steps to put you in a position to purchase a home in the future.. Possibly even the near future.. The best advice I can give you is to contact a LOCAL mortgage broker, not the local "Big" bank, and certainly not one of those 50 states internet lenders...By applying with your LOCAL Broker, you have an advantage because he's familiar with local customs and works with numerous lenders, seeking out the best loan terms for your particular scenario. Because he has lower overhead, he can offer you lower rates and lower fees than most of the larger lenders.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com

Great Job! Like others have mentioned we take the middle score of the 3 bureau's so work on all three and try to have your mid score above 640, so you have your pick of FHA lenders, keep in mind we have lenders that will go down to 580 on FHA but they are not te pick of the litter so to speak....Good Luck

It will have a big bearing. You have gone for not eligible at all to a decent score that will work with some of the investors. You need to make sure you are working on your scores for all three bureaus, and not just TransUnion. A mid score of 640 will allow you to qualify for an FHA mortgage with the best possible pricing, and you are almost there. ~ Bert Carpenter, The LoansA2z team of NOVA Home Loans ~ NMLS 40586 ~ www.LoansA2z.com 888-889-9950

You need a minimum FICO Score of 620 to purchase a home. Keep building it up.

You need a 620 FICO Score in order to purchase. Keep working on it!