11-18-2012 09:20 AM
I have worked for 5 years to pay off old debt and clear any collection off my credit report. I have one collection from three years ago for T Mobile $274.00. I have three student loans totaling $40k and one credit card with a $500 limit. My score is 547 and I can not get it up to 660 to get conventional home loan.
I have no other installment loans and paid a car loan off in June., THe last late payment was in 2011.
THe mortgage broker, the bank cannot figure out why FICO is nailing me so hard?
Does anyone have an idea and the length of time it takes to get to a 60-680 score?