If you're looknig for zero-down financing, the middle of your three scores need to be @ 580. There are some lenders out there that will go zero down with a 560 mid score, but the terms are horrible. You may also try FHA(Federal Housing Administration) financing, which has the possibility of zero down, and there is no credit score requirement, but you need to be clean on your pay history for the past year, and your collections other than medical need to be cleaned up as well.
I've seen lenders that will do 90% financing (you have to put 10% down) with a 500 mid score.
Ok..I've seen people talking about a FICO score. I've HEARD of it, but..what does this score consist of?? From my experience, everyone has 1 credit score. But...does the Credit Bureau 'calculate' different things, to get a FICO score? Please let me know. Thanks
A FICO score comes from the Fair Issac Corportation. They've developed a complex mathmatical equation that assignes a value to every entry on your credit report. In order to sell more services, the credit bureaus have developed their own scoring and rating system.
For the FICO score:
Payment History (35%)
Amounts You Owe (30%)
Length of Your Credit History (15%)
Types of Credit Used (10%)
New Credit (10%)
10 years ago I filed for bankruptcy. From then on, I have been doing credit repair on my own and my wifes credit files. It is a full time job just knowing how to handle each negative trade line on your report. There are legitimate credit repair services out there. I used Lexington law, who turned out to be the worst, monthly fee schemers. I did then get tired of the wording, "this item has been verified" letters. So............ I decided to read up on the Fair Credit Reporting Act.
I am now certified. I do credit repair as a part time Job. I have had very good results. It is all in the know how. Took me ten years to learn, but I learned. The draw back to repairing credit is the time involved. Following through on replies, how to handle a collection agencies verification, or validation letter sent back to you. Its like trying to sell real eastate, You need to know what you are doing.
Feel free to visit my site:
In brithish columbia canada, you need a fico score of 680 to 100% financing on a mortgage. I know this because my mortgage broker just told me last week that there is no lending institution here that would touch me at 627.
The lowest score I ever saw was my husbands 380 something score after a nasty period in our lives when $$ was tight, we were both in school and his Student loan and CCs all went into default. I checked his FICO this morining and his lowest score is now 714 :) I rehabbed the student loan and DV'd the rest of the CR until it was spotless!
IN regard to the min FICO for a house I will point out that I dont think in this market a score below 680 would get a decent loan.
I'll tell ya.....in this 'day and age' seems like all 'we' equal up to is a Credit Score..ya know? Others 'perceive' us on our credit? Gosh......We can be the most responsible people in the world and having some credit problems........and that's ALL some people see, is our credit score. Doesn't seem fair. Just thought I would 'add my 2 cents'.
Yes sometimes I am afraid if I even ask for something like debt validation that they would start calling even more knowing I was trying to be rid of the bad mark on my credit.
Gosh.............Credit Scores seem to run people's life..ya know? You can be the BEST person and have bad credit. You are 'judged' by your score. Everyone has a 'credit fight' once in a while. Why can't we be 'judged' on who we are instead of a number? ( I suppose this thought has been on my mind.)
NO, It wasn't hard at all just tedious. First I sent letters to each inquiry asking them to validate or remove. I then sent DV letter to every listing on his CR. The CAs who used to own accounts but, sold it deleted their listingd within the first month. Then the ones that still owned the debt sent whatever they had. Most of the time it wasn't proper validation so i offered them a quarter of the balance for a PFD. Those that agreed got paid right away, Those that didnt got disputed on the 3 CRAs and sent letter after letter demanding proper validation until I finally I sent a letter informing them that they could settle the account by such and such a date or I would file suit for FDCPA violations. PLus, I signed us up for a couple CCs and make sure to keep the balances low
I think posting success stories can give a little hope to people out there. I mean think about it we all come here and read about each others problems and post our own,isn't it noce to see that things can and will work out in a given amount of time.
The true measure of a company is how well they meet customer's needs even through difficulty. Computerspyexperts and the team did a great job from start to finish. Even when we hit a snag, they handled it quickly and professionally. Yesterday I was able to get financed for my car. Never would've happened without COMPUTERSPYEXPERTS@GMAIL. COM Now I can begin rebuilding my credit, (859) 780-3779.
welcome to CreditMagic fo
If you're looknig for zero-down financing, the middle of your three scores need to be @ 580. There are some lenders out there that will go zero down with a 560 mid score, but the terms are horrible. You may also try FHA(Federal Housing Administration) financing, which has the possibility of zero down, and there is no credit score requirement, but you need to be clean on your pay history for the past year, and your collections other than medical need to be cleaned up as well.
I've seen lenders that will do 90% financing (you have to put 10% down) with a 500 mid score.
credit score
Ok..I've seen people talking about a FICO score. I've HEARD of it, but..what does this score consist of?? From my experience, everyone has 1 credit score. But...does the Credit Bureau 'calculate' different things, to get a FICO score? Please let me know. Thanks
A FICO score comes from the Fair Issac Corportation. They've developed a complex mathmatical equation that assignes a value to every entry on your credit report. In order to sell more services, the credit bureaus have developed their own scoring and rating system.
For the FICO score:
Payment History (35%)
Amounts You Owe (30%)
Length of Your Credit History (15%)
Types of Credit Used (10%)
New Credit (10%)
FICO
Thanks.I never knew this. SOO, they get a score from all of these %'s??Wow!! Never knew.
That is why you have to equally take care of all these.
Payment History
Amounts You Owe
Length of Your Credit History
Types of Credit Used
New Credit
Things have to be in place...its not so easy but its definitely not rocket science.
This forum has such helpful information. Thanks.
Most of what I need to know I find out from reading the existing threads.
650 FHA
10 years ago I filed for bankruptcy. From then on, I have been doing credit repair on my own and my wifes credit files. It is a full time job just knowing how to handle each negative trade line on your report. There are legitimate credit repair services out there. I used Lexington law, who turned out to be the worst, monthly fee schemers. I did then get tired of the wording, "this item has been verified" letters. So............ I decided to read up on the Fair Credit Reporting Act.
I am now certified. I do credit repair as a part time Job. I have had very good results. It is all in the know how. Took me ten years to learn, but I learned. The draw back to repairing credit is the time involved. Following through on replies, how to handle a collection agencies verification, or validation letter sent back to you. Its like trying to sell real eastate, You need to know what you are doing.
Feel free to visit my site:
Bestbuycreditrepair.com
minimum fico score
In brithish columbia canada, you need a fico score of 680 to 100% financing on a mortgage. I know this because my mortgage broker just told me last week that there is no lending institution here that would touch me at 627.
what is the lowest fico that any one has seen?
The lowest score I ever saw was my husbands 380 something score after a nasty period in our lives when $$ was tight, we were both in school and his Student loan and CCs all went into default. I checked his FICO this morining and his lowest score is now 714 :) I rehabbed the student loan and DV'd the rest of the CR until it was spotless!
IN regard to the min FICO for a house I will point out that I dont think in this market a score below 680 would get a decent loan.
thank you for the pm, I am going to start on it as soon as I get to feeling betting, Have a really bad UTI, aching all over.
cranberry juice will help. raises the ph of your urine to kill bacteria
credit
I'll tell ya.....in this 'day and age' seems like all 'we' equal up to is a Credit Score..ya know? Others 'perceive' us on our credit? Gosh......We can be the most responsible people in the world and having some credit problems........and that's ALL some people see, is our credit score. Doesn't seem fair. Just thought I would 'add my 2 cents'.
Yup, the bigger the world gets the less time we have to 'judge' each other.
CMBV I see in one of your post that you got your hubbys score raised to an excellent number..Congrats. Was it hard to get debts validated?
I would like to know too
Yes sometimes I am afraid if I even ask for something like debt validation that they would start calling even more knowing I was trying to be rid of the bad mark on my credit.
Debt validation should do exactly the opposite really, if they can not validate it then they should stop calling you.
credit score
Gosh.............Credit Scores seem to run people's life..ya know? You can be the BEST person and have bad credit. You are 'judged' by your score. Everyone has a 'credit fight' once in a while. Why can't we be 'judged' on who we are instead of a number? ( I suppose this thought has been on my mind.)
NO, It wasn't hard at all just tedious. First I sent letters to each inquiry asking them to validate or remove. I then sent DV letter to every listing on his CR. The CAs who used to own accounts but, sold it deleted their listingd within the first month. Then the ones that still owned the debt sent whatever they had. Most of the time it wasn't proper validation so i offered them a quarter of the balance for a PFD. Those that agreed got paid right away, Those that didnt got disputed on the 3 CRAs and sent letter after letter demanding proper validation until I finally I sent a letter informing them that they could settle the account by such and such a date or I would file suit for FDCPA violations. PLus, I signed us up for a couple CCs and make sure to keep the balances low
well good for you that you got it all taken care of.
I like succwess stories.
Always good to hear that someone has won out. thank you for coming on and sharing this success with us.
I think posting success stories can give a little hope to people out there. I mean think about it we all come here and read about each others problems and post our own,isn't it noce to see that things can and will work out in a given amount of time.
YSL
The true measure of a company is how well they meet customer's needs even through difficulty. Computerspyexperts and the team did a great job from start to finish. Even when we hit a snag, they handled it quickly and professionally. Yesterday I was able to get financed for my car. Never would've happened without COMPUTERSPYEXPERTS@GMAIL. COM Now I can begin rebuilding my credit, (859) 780-3779.