Need help in getting loan. Cleaned up my past credit issues. All bills paid. Have $ for down payment. Working steady. First time home-buyer.

Can a lender help me buy home with lower credit rating. I've worked hard to pay off all old debt.
My credit rating still hasn't raised up above 600. I've done all steps per lender here in SBend.
They say I can qualify for Indiana first time home buyer with down payment help too but their lending
rules say must be above 600. I have pre-paid credit card to try and rebuild credit. It hasn't helped.
Thank-you for your response.
(0) | asked by: Mona Brosamer | share | 1 day ago | Report
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answer by Allen Grace    |   Contact Me
There are a lot of good lenders that should be able to be of assistance. There is a lot of things that goes into the credit score not just payment history. ie debt to income ratio, credit utilization and other things. Not knowing who you are working with, I am at somewhat of a loss, but would suggest calling Amy Houck at Hallmark Home mortgage. 574-310-9896. They have a new app/program that may be of assistance to you. Good Luck, Let me know if i can be of assistance. Regards,
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Scott Adrian
answer by Scott Adrian   
I work with many first time home buyers and credit challenge. I tell them the best way to get your score above 580 which is the FHA 203 lowest you can go is to really focus on snowballing your debt. Check out Dave Ramsey Financial peace class and books on debt reduction. When you snowball your debt you'll pay it off faster and keeping your revolving debt below 30 % helps to raise your credit score faster.
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