Repairing credit and buying a home Hello,I will be graduating with master's degree in library science next spring, and I'm thinking about purchasing a home once I'm employed full-time. I made a lot of mistakes with credit cards during college (3-5 years ago) and I'm now in the process of paying off my old debt. My credit score has risen to 533 from 487 in March, but I would like to get it over 600 before attempting to qualify for an FHA loan. I have taken some positive steps in this direction. I have a credit card with a $300 limit that I've made on-time payments on for almost a year, and I am up to date on my car payment. My only concern at this point is a few old utility bills that I didn't pay ($133 electric, $200 old cable bill, etc.) Should I be thinking about those also, or should I focus on taking care of the big credit card bills first? Will an old utility bill from five years ago hurt my chances of getting a loan?Once I graduate, I will be making about $40,000/yr, and I'm hoping to purchase a home for around $90,000-$100,000 (which gets you a nice two or three bedroom home in my area of Ohio.) Is this feasible with my poor credit?I feel a lot of guilt about my credit mistakes, and I guess I'm looking for some reassurance that I still can get on good financial footing. |