FICO score to low to attract lenders

[Lashad Hamilton]

Good morning BP family,

I have come across the challenge of needing to raise my FICO score in order to show lenders I can be responsible. I have a goal to purchase my 1st investment in 1 year. I understand mostly what needs to be done, I know the 30% rule with credit limits and paying bills on time. I have as of recent become desperate to raise my score to at least a 650 and I am about 100 points away. What could I do to speed up the process? Also I have seen advertisements about companies providing a service to do this for you. Are any of these companies legit? Is it even legal to go about raising your score with a company? Finally if it is legal does anyone have any recommendations for one they have worked with before? Any knowledge and wisdom will be greatly appreciated. 

[Tom S.]

@Lashad Hamilton  Congrats on your goal to purchase a property soon! 

Just keep in mind your credit score is only one component of the decision. Certainly they also look total debt to income (DTI), job history, W2 vs 1099 , and cash reserves and total assets, to name a few. So keep an eye on those as well.

Good luck,

- Tom