Posted on: 10th Mar, 2010 07:11 am
Hey - so a little over a month and a half ago, a mortgage lender ran my credit and told me my score as 570. They told me I would have to pay everything off (including past due bills and get my car loan to 10 payments or under) Since then I've paid every single thing off including getting my car loan down to 10 payments or less so it wouldn't be considered debt. What are the chances of my score being higher and if so, how long would one estimate that my score would be a 620? Can you go from a 570 to a 620 in a month? Is that even possible? Now that everything is paid off, I am at a standstill because at first the mortgage lender was going to underwrite it at 580 but now they are raising their score to 620. Ugh I was so close and now I feel like I won't ever make it there! Please please any advice would help!
Yes, depending upon where you are located...you can get a loan with a score less than 620.
It's very possible to raise your score by 50 points within a month. It just depends on how quickly your creditors update your information to the credit bureaus. Depending how many past dues were showing on your credit that it. You may be looking at more like 2-3 months but paying off your past due debts was the first step in the right direction. You'll get there soon enough!
Hi,
It is possible to increase your credit score within one month if you pay off your small debts early and be current on your other payments. You need to check if your creditors updated that in the credit bureau. However there are companies who provides loan with low credit score credit score, all you need to do is a market research to find it out.
It is possible to increase your credit score within one month if you pay off your small debts early and be current on your other payments. You need to check if your creditors updated that in the credit bureau. However there are companies who provides loan with low credit score credit score, all you need to do is a market research to find it out.
You can still obtain an FHA loan with a 580 score. There aren't many out there that offer but, they do. You have to do your research.
