Im in the process of buying a home, i was told i dont qulify b/c i have one open acc. my fico is 615, what can

what can i do to bring up my Fico and have another acc. opened?|||Like the previous poster said, it will take some time.





Your best option is to work on your credit first, then think about purchasing a home.





If you have any baddies on your reports, you need to try to deal with them.





If your reports are clean, but you just need more credit, you might try the card selectors on Orchard Bank, HSBC and Bank of America. The selectors will not pull a hard inquiry. But if you apply for a card that may be recommended, they will pull a hard inquiry. Keep in mind that even if a card is recommended, you may not be approved.





As for your home purchase, did you try with the bank you normally deal with? If so and they were the ones to turn you down, you might think about opening an account with a credit union. Many credit unions are a little more lenient on loaning money to their members.





If you are wanting to purchase a home "right now", as I said before, raising your scores will take time. So, you might have to go to a subprime lender if you don't want to wait. One that may deal with you is Citifinancial. But - you will be paying a very high interest rate. If they do approve you and after you have raised your scores, you can always refi, but you will be shelling out the money to do that.|||It takes time and wise financial decisions on your part to raise your credit score. My credit was in the toilet and I buckled down and paid off my credit cards, closing all but one, and paying them on time. Once I only had the one card, and used it periodically but paid it off every month, my score soared. If you have a problem with credit card debt, it takes a great deal of control on your part to do it, but you have to get that debt paid off before you can do much else. Also, it looks better on your credit report if you pay them off on your own without going to a debt consolidation loan, because that tells potential creditors you couldn't handle things on your own. I went from having about $10k in credit card debt to 2 years later no debt, and I then started looking for a house. In 6 months of being good, my credit score jumped about 80 points and allowed me to prequalify for a no money down mortgage. Buying a house is the very best thing you can do with your money, getting your credit score up will be a giant step in that direction.|||I've done plenty of loans with your situation. You should be able to get a house with no money down with that score.