List the types of credit you have..
Cap One CC - credit limit 1000 - payment due 0- balance 0- late payments 0
AMEX CC - credit limit 1000- payment due 0-balance 0- late payments 0
Chase CC - credit limit 1000- payment due 0- balance 0- late payments 0
student loans- balance 5000- payment due (deferred or payment) - balance 5000- late payments 0
Car loan- credit limit 25000- payment due 450- balance 15000- late payments 0
Collection - balance 500- 4 years old
Maybe you can get other ideas of how to increase your scores if you give some type of break down of reports.
you paid off 50 percent of your util which is very good. If you want to maximize the scores, go buy something on one of the cards and let it report. You want under 10 percent of your total limits reporting. So go buy some groceries on one card.
As suggested by Tooleman, use your BoA 123 rewards card and purchase something, I would buy something totaling $25 and let it report on your statement. Once statement comes out pay the $25 off so no interest charges. Repeat this process for best scoring opportunity month after month.
When do the collections fall off? Being paid is good in the UW's eyes but sadly usually does not help your credit scores. It is the collection itself that has the biggest impact.
Your lates are also still dinging your scores, I would try to send GW (GoodWill) letters, and possibly they may remove them. Will be hard with the school loans but possible.
I would also send GW letters to the collections and see if they would remove them earlier since you paid them already.
You can get examples of GW letters on the rebuilding board, and even get excellent advice on how to improve your scores.
You can most likely qualify on your own with just your salary and downpayment right now. I had to get our home loan by myself. My husband did not qualify.
Not on just becoming employed. She will most likely need her husbands employment history.
Truthfully they are excellent candidates for the NACA program