Monday, November 23rd, 2009
What credit score range will qualify you for first time homebuying?
-*GINA*- asked:
My credit score is 550, Ive never had a car, home, or furniture in my name, its just hospital bills that made my score low…Will I be able to finance a home?
My credit score is 550, Ive never had a car, home, or furniture in my name, its just hospital bills that made my score low…Will I be able to finance a home?
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To improve your credit, apply for a PRE-PAID Visa card from their website. You can have your pay check go directly onto the card use it for a while. This will build your credit because it is still listed as a credit card on the report. There are no qualifications for the card because you put the money on it. Credit companies update your score every 3 months. This should make a big difference in a short amount of time. Also, start sending 5-10 dollars a month. This way, you are paying SOMETHING at least, which also looks good on your report. Hope this helps!
November 25th, 2009 at 12:22 am
No. You need to fix your credit and establish some good lines of credit.