Posted on: 02nd Dec, 2009 11:37 am
i have a 575 credit score..had a 60 day late payment that was paid off. i had 4 negative reports with 3 of them in collections--1 was a medical, 1 a loan, 1 was a cell phone, 1 cable. i have 100% credit availability..and i am trying to get a fha loan for a home is there a posability i can get the loan???? i have $10,000.00 saved and can put some down... how long does it take for my credit score to go up after everything was paid??????
normis, there are lenders out there who can deal with that 575 score of yours. many of them have said as much on this very site. you can seek a quote from one of the lenders on-board here by clicking:
http://www.mortgagefit.com/quote/
i don't quite get your reference to 100% credit availability, but i also don't see you mentioning that the collections accounts are paid off yet. they'd likely have to be in order for you to qualify.
how long a timeframe you're looking at for increase in score is hard to say; part of the answer would have to do with how much other favorable credit information you have.
http://www.mortgagefit.com/quote/
i don't quite get your reference to 100% credit availability, but i also don't see you mentioning that the collections accounts are paid off yet. they'd likely have to be in order for you to qualify.
how long a timeframe you're looking at for increase in score is hard to say; part of the answer would have to do with how much other favorable credit information you have.
George is right, there are lenders who will work with a score under 620. In fact, I just made contact with one today that will work with a 500 score....unreal.
no quarrel here, eric...it is unreal.