First of all thank you for your recent inquiry. You say you have a credit score of 600 which should increase to a least 620 because of a bigger credit line recently opened and the fact you debt to credit raio was just brought down to 5%.My first response is when you apply for a mortgage, the lender typically uses your middle score from all three credit bureau's (Ex/TU/Eqfx) in their risk assessment procedures. You very well may have a 600 in one score, but what about the other two scores? My recommendation is to allow me to go through the process of prequalify you. I will quickly analyze your situation and advise you accordingly. If it is determined that your middle score is 600, and within a short period of time goes to 620, with a 5% debt to income ratio, then you certainly meet the criteria. The only factor missing would be your income? As far as a loan program their are many to choose from. The most popular programs are the government insured loans like FHA and VA. Are you a Veteran? If so, you can use your VA loan entitlement to qualify with No Money down. By putting down 10k, this will only discount your principal and interest payments by $25.00 to $30.00 dollars. You are far better off sticking that 10k into a 401k, or low risk investment vehicle for maximum return on investment. As for paying off your old collections WAIT!!!! I would certainly hold off on that for now. Sometime what happens is if the collection is reactivated it can reflect negatively on your credit score and underwriting risk assessment.I have worked with dozen of families like yours. I have assisted them with all kinds of credit issues. I know of a excellent credit repair-resolution service that can help you improve your score by as much as 50 to 150 points in a short periods of time. It's absolutely free, and part of a service of many other benefits involved with their company. This is not a debt consolidation type company either, but we can talk about that if you are interested. Otherwise, I like to work with you. I believe you will be able to reach your goal and buy that home in July maybe even sooner! I hope this information has been helpful. Again, I am a Veteran of the Armed Forces and I take my credibility very seriously. My ambition is to help other people achieve the "American Dream Of HomeOwnership". Let me show you how!Best Regards, Joe SanchezVA Loan Specialistwww.valoanguaranty.comVA Loan Guaranty

I work with all 3 Credit Bureaus and can fix your FICO score with a Credit Analyzer and see what kind of improvement we can do before you buy. I can go as low as 500 FICO in the Western States. Otherwise, we can work on the Rapid Rescore and get you to 640 FICO for FHA or higher, if you are not in the Western States. I lend in all States. I hope this helps. RC

While most lenders now are looking for 640 credit scores there are some lenders who will accept 620.As for the old collections, it depends on how much the total amount is.If you have any questions you can contact me Terry Taitel 847-359-5300

Not sure how paying off collection accounts can hurt your scores. I think that may be the best way to get the scores up. Most lenders will want to see a 640+ score these days. I have a great credit repair company that I work with that could help get those scores up by July. Give me a call and I can get you in contact with them. A lot of time they will give you suggestions and you don't ever have to enroll in the program.

Hello. Most lenders do have min credit score requirements of 640 for FHA loans and 660 for Conventional loans. Depending upon what the collections are, you may not have to pay them off. I am able to go down to 600 scores on FHA, but the collections may ahve to be paid, depending on if they are medical or not and the dollar amount owed. It would be in your best interest to try and get pre-approved now to determine what your mortgage score is. Mortgage credit scores difer from consumer credit report scores. Sometimes the score difference is quite large. I am here if you need more help. I can lend in most of the country. Patrick McCarthy, Northpointe Bank, 866-901-3576

We do the loan with 620 and also do a credit repair/Debt settlement/ and rapid re-score which is a method that some mortgage companies are using which we will look at those collection accounts that you have and determine if it is an eligible debt to be remove or not. We do specialized with credit and debt settlement including elimination and we have a very low set fee at $299 it will never be increase from that plus we do home mortgages as well. I have over 10 years in mortgage origination experience and also debt settlement. We have an attorney in house to do all settlement as well. It's not good if the collection account is there so we can help you eliminate then help you get a home loan that fits your needs. Our rates are also great.My name is Ana and I am a senior loan officer for First USA Home Loans and the credit company that I am partnering with is Sumitra Debt Solution. Please contact me at 1-877-472-9887 or email at avichaidist@firstusahomeloans.com It is no obligation and it is a free consultation

I assist borrowers in Illinois (and nationwide). PrimeLending received an exception from investors, which allows me to offer FHA mortgages for credit 600-640. 30-day closings available. Excellent rates, low fees, close on time.Jori Stern, Sr. Loan Officer, PrimeLending, A PlainsCapital Company. (877) 399-6539. http://www.primelendingdallas.com/fha-mortgage-credit-600