Interested in buying a home this spring but concerned about your credit? You’re not alone! Each year, we work with dozens of buyers who struggle to qualify for a mortgage because of poor credit. Luckily, there are local, helpful programs to help borrowers increase their credit scores quickly!
Currently, FHA mortgages allows buyers with credit scores as low as 580, although those with lower credit scores often have to pay significantly higher interest rates. Conventional loans, which often have better terms for buyers, typically require a FICO score above 620. The very best interest rates are typically given to borrowers with scores above 740.
Credit Blueprint, based out of Plymouth Meeting, PA, is a credit repair service that provides individualized credit coaching for an affordable fee. Their clients often enjoy 50-point FICO score improvements over three months, and 100-point gains after six months. Credit Blueprint’s coaches work directly with credit bureaus to assist with any disputes, and provide personalized tips to help their clients. They also specialize in working with clients who have been foreclosed upon, had to short sale their home, or filed for bankruptcy.
If you’re interested in learning more about improving your credit score, be sure to give Credit Blueprint a call at (610) 768-8048