Posted on: 22nd Jan, 2010 04:02 pm
I live in mcdonough, georgia and i'm looking to purchase a home. Can i qualify for a 100,000 Fha loan with a 615 middle credit score. If not what can I do to raise my middle score. I currently have school loans on my credit report that are currently being rehabilitated. i'm hopeful that it will raise my score some. once the school loans are rehabilitated they will appear on my credit report as current. i also have one revolving credit card acct that is in good standing and I'am currently working toward a zero balance. Any advice you can give me will be greatly appreciated.
There may be lenders who are willing to work with a score that low. However, you may have to come up with a larger down payment.
Call the credit card company and ask them to raise your limit. That will create a larger spread between your current balance and your limit which should increase your score.
Call the credit card company and ask them to raise your limit. That will create a larger spread between your current balance and your limit which should increase your score.