So we went to talk to our mortgage broker and we are very close to where he says we need to be to be pre-approved for a home. We want to buy a friends home in January, it is going on the market whether we are ready or not and it would be an ideal home for us and an opportunity to sell our condo. (What we pay in mortgage and condo fees would equal the same in mortgage on this house) My income is enough but my credit took a toll in January of this year.
Basically I need to raise my score at least 55 points as the minimum and 85 points would be the ideal. What is holding me back is my credit card. I need to bring it down at least to be at 30% or lower of the available credit before December. So, the sooner I am able to do it the higher my score can go up.
Does anyone know if that is the only thing holding me back, and I manage to pay that down, how long it will take to raise 55 to 85 points? Also, I need to raise $ 2000 the sooner the better. I am out of ideas as a second job isn’t feasible for me at this time. I am selling a bunch of stuff I have at home I don’t use but I fear it may not be enough. Any ideas??
I should note that the $ 2000 that I am trying to get the sooner the better is to put my cc below 30%. The sooner the better is so that my score can be raised once it is under 30% Any ideas how many points it can go up and in how long?