I am in the process of buying a home soon.I am slowly working on my scores...a little at a time.Here what I got,what do you think the chances are of getting a mortage in this day and time?
1)Good job...on job 4 plus years. About $70k year
2)VA Loan certified
3)NO DOWNPAYMENT...I am utilizing that benefit from VA
4)Score not so well,but steadily gaining EQ 584 EXP 608 TRANS 592
5)No late payments in 2 years,several open credit cards.....just got financed from Chase for $17k for vehicle.
6)About 10 HARD inquiries from when I got the car
7)debt ratio within good limits
8)8-10 closed accoutns in good standing I have paid
My main thing hurting me is a charged off Juniper Barclays account,gaining interest everydaay.Which I hope to settle with.It has not been reported to collections,but agencies do call me about it.
From my understanding, you should have a minimum middle score of 620. I personally wouldn't even try until I had my score around 640.
I would work on any incorrect information on my reports.
Take care of the account issue and get the scores up sounds like everything else is fine - I would also work on building up a savings if possible - you as a homeowner will have more unexpected costs than as a renter - keep in mind you will also need closing costs or be able to negotiate with the seller to pay them