[kristinpell07]

Do they still give them? I have heard of them before. I have a median credit score of 601 and need to raise it to 620 before I can get an FHA loan. So could I get a subprime mortgage til I raise my credit score and than refinance into something better? I am only looking to get a loan for $20,000. I have a captial one credit card I got back in 2004 that needs paid off. My balance for that is $789. If I paid that off would it increase my credit any?? Any help will be appreciated! Kinda new with this credit scoring stuff. So thanks everyone!I thought they stopped giving out subprime mortgages is why I asked. I am trying to get an FHA loan for $20,000. My credit score is 601...I have a credit card with a collection agency. The remaining balance for the credit card is $789.The house we are looking to buy is a foreclosed house...needs some work but not much. We live in Western PA if that helps anyone from that area. *Also no rude comments...grow up*