Currently Fico 2 at 595, we want to get in a house by the end of summer. HELP!

[Anonymous]

My husband and I had our lender run our report and our  Fico 2 score came back 595. He wants us up 40+ points. After moving a few times, I missed a couple student loan payments in 2014 and one credit card payment in Septemeber 2014 resulting in baddies. I have offically repaid all credit card debit on 3/20/15 thanks to our tax return & work bonus. My husband has no credit card debt and over a 740 score.

I paid of these off but these were my balances as of 3/10. My fico score is 621

Macys: $300 of $1000

BBY: $790 of $2100

AMEX: $5,363 of $5600

Discover: $1,151 of $1600

Capital One: $834 of $1,000

Capital One: $83 of $500

I have sent good will letters out to Discover & Citi student loan. My husband added me as an authorized user to his 2 credit cards $15,000 limit & $10,000 limit.

Any clue on where I should expect to be ? How can I raise my Fico 2 score even more? 

Total Debt:

Credit Cards- $0

Student Loan- $16K

Car payments- $0

Thanks!

A

[Anonymous]

The maxed out cards are probably killing your score along with the derogatories. 3 of your cards are maxed out or close to maxed out. 

The credit repair forum will be of better help to bring the score up. Do you have any cash reserves to pay down the debt? you MAY find a lender that will help you get an FHA loan. Your scores are low at the moment, but do not worry, it will just take you a little longer to get to your goal. Get some goodwill letters out to the lenders and pay down the debt. Thats really what it boils down to. The sooner the better, but this is something that will take a lot of patience. Good luck to you!

[StartingOver10]

How about your income and your husband's income? Do you need both incomes to purchase the home? I ask because if he could get the mortgage in his name and you and he both be on the deed that would give you the best of both worlds. I don't think you can do that in a community property state -so are you in a community property state?

[frugalQ]

OP has paid the debt off, but she will have to wait 12 months from that late to qualify she's able to the creditors to remove the lates.