Additional Fico Scores.

[Anonymous]

I have a friend and their fico 2 credit score is a 540. She wants to buy a home in 3-4 months but she needs at least a 600 to get approved for a loan through the lender. The lender says that her fico 2 mortage score has to be 600. If she pays her credit cards on time and stays under the 30% credit utilization, will her score be at least a 600 in 3 months?

[AllZero]

Look into AZEO Technique. All Zero Except One card reporting a small balance e.g. $5-$10. Use a bank card. Do not use a store card.

Optimized utilization is:

Individual 1-29%

Aggregate 1-9%

She might want to address any derogatory she has; delinquency, charge off, collection, etc. If they are updating monthly, it'll keep her scores suppressed.

[AllZero]

Free mortgage scores

EX2 + 3 Bureau scores and reports for $1 at Experian or CreditCheckTotal (part of Experian). Cancel in 7 days or less to avoid the reoccurring charge.

TU4 WyHy quarterly score. Not sure on membership requirement. Maybe hard pull TU?

EQ5 Get a savings account with DCU. Soft pull EQ to be a member. Free monthly score.

You can also obtain your 3 bureau mortgage scores at FICO Advanced . Cancel plan after you obtain your scores and reports to avoid re-occurring monthly charge.

[Girlzilla88]

Are they in a position to try the AZEO method?!

[FlaDude]

---

@Anonymous wrote:

I have a friend and their fico 2 credit score is a 540. She wants to buy a home in 3-4 months but she needs at least a 600 to get approved for a loan through the lender. The lender says that her fico 2 mortage score has to be 600. If she pays her credit cards on time and stays under the 30% credit utilization, will her score be at least a 600 in 3 months?

---

It's hard to say without knowing why her score is so low now. If she is already under 30% and just plans to stay the same, that won't lead to a score increase, and likely 3 months of good payment history alone won't help much either. Assuming she has derogs like late payments/charge offs/BK, if they were to age off her report during that period or if her most recent derogs age past a threshold, that could make a decent score increase.

Again assuming there are derogs, trying to get them removed via goodwill letters might be a long shot, but since the various types of derogs can stay take as long as 7-10 years to fall off her report normally, it might be worth a try.

[SouthJamaica]

---

@Anonymous wrote:

I have a friend and their fico 2 credit score is a 540. She wants to buy a home in 3-4 months but she needs at least a 600 to get approved for a loan through the lender. The lender says that her fico 2 mortage score has to be 600. If she pays her credit cards on time and stays under the 30% credit utilization, will her score be at least a 600 in 3 months?

---

We would need to know more about her profile to advise her on how to improve her score.