Wouldn’t it be FUN to own a home? Your own backyard, your own bedroom you can paint anyway you want? AND… get cash back from Uncle Sam?! Minimum credit score requirements for FHA Loans in NC are pretty low, and you can get a down payment GIFT or Assistance from the State of NC to buy a house!
The most important thing to remember is that you need a 12 month history of making payments on time. If you are currently behind on ANY credit card, or car payments (or RENT!) catch them up! Get a second job, call your parents, clip coupons, only pay cash – make Birthday Presents… borrow clothes from your girlfriend… BUT GET THEM CAUGHT UP!
Once you get that on track, look at how many Credit Cards you have. Revolving Credit is going to be the FASTEST way to get your scores higher. Secured Credit Cards might be the answer for you – or you might want to see if you can get added to a family member’s credit card account. [Read more...]