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I just dont know where to start

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RESSECUP
Regular Contributor

I just dont know where to start

I am going to be a first time home buyer and my credit score is 605. However,  i have credit card and student loan debt.  Do I have to pay all of the credit cards off or get them down to below 30% to qualify for a mortgage? 

 

Message 1 of 3
2 REPLIES 2
medicgrrl
Valued Contributor

Re: I just dont know where to start

You probably want to bring your scores up. Go to the Rebuilding forum and post what's holding your scores down and you might get some good advice on what you can do.


EQ 778 EXP 782 TU 729
Message 2 of 3
Anonymous
Not applicable

Re: I just dont know where to start

Paying down cards will help get your scores higher, you're high enough to squeeze through most lenders with FHA but you will be better off getting another 40 to 60 points to help get best rates.
Message 3 of 3
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