Need to increase 50 points for mortgage

QuestionsNeed to increase 50 points for mortgage
asked 3 years ago

Hi Guys

         I’m going to buy a home from builder in May 2016. They are going to start in Mid of Jan 2016. Right now I got Mortgage preapproval for FHA.

Here is my mortgage score during my pre-approval (dec 15 201%)

 

Exp : 656 (No collection accounts, 2 credit card late payment 11 months ago)

Equifax : 614( 2 collection accounts, 2 credit card late payment 11 months ago)

Transunion- 627 (1 collection accounts, 2 credit card late payment 11 months ago)

 

Average credit hitory : 4 years ( oldest account 9 years)

Credit card utlization –  8500/20350 ( 41%)

Installement loans : 4 (2 auto and 2 personal loans)

 

I want to go for conventional loan with 7% down payment, for that i need to increase mid score to 680 in order to get better PMI.

 

What I can do in order to hit mid score (from 627 to 680) mark in 3-4 months time before closing.

 

Please suggest

 

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