Getting 720

[salgauna]

I have been on a mission to get to 720 so that I can purchase investment properties,  most company's will not lend out on more than 4 mortgage loans with out a 720 or better.  My problem is I don't know how to get the last few points.  I'm at 710 and 713 on my two scores here.  been there for several months now at least 5, I have a zero balance on one of my revolving credit lines with a 5000 line of credit.  My other revolving credit is at 42 on a gas card with a 1175 limit. No late on either for 2+ years.   I have tried to get both companies to rise my limits with out pulling my score but they won't I have had several inquires from mortgage companies over the last year trying to get financing with no luck.  IF YOU DON'T HAVE 720 DON'T BELIEVE THAT THEY CAN HELP YOU AND LET THEM PULL YOUR CREDIT THEY CAN'T IT ALL COMES BACK THE SAME AND MORE INQUIRES HAVE NOT HELPED ME.    I have 4 home loans that are all paid on time for several years now.  No other debt.  What can I do to take me to the next level?

[Creditaddict]

Sounds like your current 4 mortgage loans are holding your score down.  Any equity in any of these places, I would think an equity line of credit would be easier to come by then a 5th mortgage and you could just buy the property with that.

[llecs]

OP, do you have any baddies reporting like old lates, old collections, etc.? If not, are these 6 accounts (4 mortgage and 2 revolving) the only things reporting? Are any of these 6 new accounts?

Do both the LOC and the gas card report CLs? And are the $0 balance and the $42 balance the same balances showing at the time you pulled your last FICO reports? In other words, your two reports don't show higher balances, right? Increasing your CLs won't improve your score if you aren't carrying balances. IMO, your %util is perfect.

Welcome to the forums, BTW!

[salgauna]

These are my only 6 accounts reporting right now, no old collection have some 30 day late and 60 late form back in 2004, 2005 but everything is correct on the report have cleaned up all items that needed to be disputed?  The balances on both reports are the same.  None of the accounts are new, was thinking about doing a secured line of credit if it would help?  I have two lates that will fall off of the report in Dec. after the 7year are up.  Other then that I'm not sure if it is just wait and continue to pay on time but that has not really gotten me anything the last several months?  Do you have any suggestions on what might work to get it to go up those last few points.

[salgauna]

maybe that is right on them holding it down, I do have equity in all of them no PMI on any of them I do have a 5th property that is free and clear that I'm tring to get finaced instead of the line of credit on so that I can buy the 6th 7th and 8th poperty.  Money is being loan on 15 year notes at around 4% 10 year notes in the high 3% range,  we have never seen rates like that and probably never will again.  Trying to take advantage of that.  My money can make more for me outside then I can borrow it for now.  Been repairing my credit for about 4 years now and am close to where I need to be.   Do you have any thoughts on how I might be able to get that extra few points I need?

[kal9988]

There might be more accounts or negatives on your Experian report. You should take a look at that too.

[salgauna]

All three score are real close on last mortgage check and I have looked and fixed all bads on all three reports.  Just can't get a FICO on the Experian,  I have score watch and the Suze Oberman package so that I can check scores here before I let my mortgage broker go back in and pull it again I have notice that too many pulls have not helped.  Just looking for any little trick to get me over the top.  I'm not sure if I should do secured credit or not, does anyone know if  that will give you a boost or a ding?

[RobertEG]

What is needed is a specific listing of each monthly OC delinquency in your CR, by date and severity, the reporting of any charge-off, or of any colletction.

Dont presume that because it is old, but still in your CR, that it is not hurting a lot.

If you have ANY major derogs in your CR, that will severely impede FICO score inclreases, particularly when you are in the 700's.