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Why Might I Have Trouble Getting an FHA Loan with a Credit Score Above the Minimum Requirement?
Question from Anno: I want to purchase a home under FHA and use the Starter grant for closing. I have to close on this before end of October… I pulled all of my 3 scores and I am sitting with 633 for vantage 3 on TU and Equifax and Experian FICO 8 is 640 with…
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How Can I Rebuild My Credit After Becoming Debt Free?
Question from mj: I’m officially debt free! What can I do to rebuild credit? Congratulations on becoming debt-free! This is a significant financial milestone. Now, it’s time to focus on rebuilding your credit. Here are some steps you can take: 1. Regularly Check Your Credit Reports Firstly, it’s important to regularly check your credit reports.…
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Can You Buy a Home with a Mortgage If Your Credit Score Is in the Low 500s?
Question from CB: If your credit score is in the low 500s – can you buy a home with a mortgage? Yes, it is possible to buy a home with a mortgage if your credit score is in the low 500s, but it can be more challenging. Lenders often see a low credit score as…
