All Forum Posts by: Julian Dangerfield

Big Congrats @James Wise , as a Real Estate and Bigger Pockets Newbie, I have a loooooooong way to go, but seeing your post is a definite inspiration to keep pushing!  Thanks

Thank you for this post @Jared S. and thanks to everyone else who posted on this thread, this is inspirational as I definitely would like to purchase a Multi-Family in Washington DC in the next year or so, after I buy-and-hold my first couple SFH investments in Maryland.

Welcome @Caden Clemons I'm new to BP too but it's an awesome place for information and resources. As far as start up capital, I know here in Maryland there are first time home buyer programs that will greatly help out with the cost of buying a home, so one thing I would suggest is to look up new home buyer programs in your area and you might luck out!

Thanks @Charmaine M. yes having an 'idea' and knowing precisely makes a HUGE difference! I'll definitely use Credit Karma to only keep an eye on things from here on out!

@Payam Dastmalchi thank you for the info, I actually just used annualcreditreport and found some stuff that Credit Karma wasn't showing me.  Also I see that you have a meet-up group in the area, I'm still a newbie at this whole thing but I would really like to attend and hopefully participate!

@Jeremy Pace thank you for the info and especially the Fannie Mae link, I'll definitely do my research for a better understanding of my FICO.

Thanks @Jacob Edmond I checked with my Bank of America card but they do not offer a free FICO score, I'll keep looking for other options, but I appreciate the info

Greetings BP Community, I’m glad to be here and thanks for having me!

Quick backstory, I initially planned to invest in my first rental property back in March, I had worked diligently to clean up my credit, paying off and having collections removed, bringing my student loans current, and paying off my credit card to a 0 balance throughout 2014. I was able to raise my credit score by nearly 100 points and I knew that I was on my way to success based on my scores given to me from Credit Karma.

However, after I began the process with my loan officer, he gave me the bad news that my FICO score was too low to qualify for a house, basically in the high 500s and low 600s even though Credit Karma was telling me otherwise L

It was suggested that I diversify my credit usage, so I applied and was approved for an additional credit card and a car loan, to offset my student loans. Again I’ve been paying consistently for months now, keeping my balances low and doubling payments on my car loan, while still building a savings.

The questions that I’m hoping you can help me with are really how far off am I from where I need to be, how do I know (without harassing my loan officer who is a really nice guy) if my FICO score has improved? I check my Credit Karma weekly, and while it continues to slowly improve, I know that my FICO could say otherwise, is there any advice on what my next move should be to be ready to invest in the Fall?!