I recently had a traditional lender pull my credit and prequal me. He quoted I’d be at 9.25 with 25% down. My score is 563. I have very little cash (a few hundred).
I do not have any open credit cards - everything is in collections, and I’m paying them off at a rate of 1 per month. I’m paying off about $1200 a month to satisfy the collections.
How can I improve my scores? Would I even be approved by a HML?