cancel
Showing results for 
Search instead for 
Did you mean: 

Mortgage loan 6-12 months

Auto Loans for ANY Credit Situation. Immediate Response.
Advertiser disclosure
Highlighted
Valued Member

Mortgage loan 6-12 months

Hello, I have been working on my credit over the past year or soot hopefully obtain a mortgage. This is where I currently sit with my reports.

Baddies:
Closed Auto loan paid in full April 2014. 10-11 30-day lates over two years ago.

5 student loans through Nelnet. One 90-day late on each in May of 2015. Currently paying timely. Will not goodwill.

ARS collection open balance of 1098.00. Medical collection. No payments made open date mid 2013.

2 portfolio recovery paid in full collections closed. Set to fall off early 2019.

1 judgement for 2500.00 from 2013. Currently paying $150.00 per month.

6 other paid collections only reporting on equifax.

Good standing items:

Capital One Platinum secured 1.5 years old. $0 balance.
Capital One QS MC 1 year old - $ 2500 balance cl of 4600
Capital one QS MC 1 year old - $ 2000 balance cl of 3600
Chase freedom 1 month old $0 balance cl of 500

Walmart store card 6 months old $400 balance 3500 cl

Kohls store card 1 year old $80 balance cl 300

Overstock card 6 months old- $150 balance cl $500

Amazon card 1 month old - 300 balance cl 700.

Springleaf loan of 6000 roughly. Paying 232 a month.

Transunion FICO is 649, EQ and Exp low 600's

I am currently using my two main capital one cards to pay a lot of my bills then I pay it off and use again the next month to avoid interest. I don't pay a lot down on them each month. Is this a issue for a mortgage?

Also I was looking at a FHA possibly. Is this possible with my situation? I make $61000 a year.

Any thoughts or suggestions to move closer to this goal.

Thank you!
Message 1 of 3
2 REPLIES 2
Highlighted
Valued Member

Re: Mortgage loan 6-12 months

Bump
Message 2 of 3
Highlighted
Frequent Contributor

Re: Mortgage loan 6-12 months

Baddies dont look terrible. You need at least 12 mos with no lates for mortgage.

What type of loan are you looking for and how much house are you looking to buy. Your DTI ratio will determine if you need to pay cards down.
Message 3 of 3
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.