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How to increase my mortgage fico score

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How to increase my mortgage fico score

I am wanting to learn how to increase my mortgage fico score. I am currently renting, but would like to look into purchasing a home within the next year or two. I am new to credit building and home buying. 

Starting Score: 456
Current Score: 675
Goal Score: 705


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35 Inq
Repossession-currently on payment plan $150/mo
New car note-$550/mo
Self Lender-$45/mo (1 late payment June 2018)
Merick Bank-closed 0 balance (settled)
Indigo cc-$300SL
Capitol One Quicksilver-$500SL

Student Loans-$5,000 interest (deferred)




















4 REPLIES 4
Established Contributor

Re: How to increase my mortgage fico score

I found this info not sure if it will help.

 

https://ficoforums.myfico.com/t5/Mortgage-Loans/FICO-scores-used-for-mortgage-and-where-to-obtain-th...




FICOBeginning (6/2017)Current
Equifax636707
Transunion627725
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Message 2 of 5
Established Contributor

Re: How to increase my mortgage fico score

Also found this:

 

https://ficoforums.myfico.com/t5/Understanding-FICO-Scoring/How-to-I-improve-my-mortgage-FICO-scores...




FICOBeginning (6/2017)Current
Equifax636707
Transunion627725
Experian623726
Message 3 of 5
Established Contributor

Re: How to increase my mortgage fico score

I would definitely list all of your accounts and utilization/limits. That way, we can get a better understanding of what's going on in your credit profile. How many cards do you have? What's your Average Age of Accounts (AAoA)? Any delinquencies, late payments, collections? How many inquiries? Things like that. Obviously, no need to share any personal information, just the basics of what your situation is. Take a look at my signature below (hover over the cards) and you'll see what kind of info is helpful.

I’m probably never finding that garden everyone keeps talking about.



Officially collection free as of 3/19/19!!
STARTING SCORES: 377 (11/2013) & 580 (3/2018)
Message 4 of 5
Senior Contributor

Re: How to increase my mortgage fico score

We'd love to help you here. Moreso with the FICO 8 which helps Mortgage FICO's. There are loan officers in the Mortgage section that could do a lot too. So get the best of both ends! 2 for 1! Good luck!





My posts are JMHO. I DO NOT claim to be a FICO expert. Just sharing my experiences from rebuild to recovery after BK DC. My siggy is not to brag at all. Just to show fellow members what can be accomplished when you do it right and play the FICO Credit Game.
Message 5 of 5
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