Jefi Moultrie

​7777 Alvarado Rd #700

La Mesa, CA 91942

7777 Alvarado Rd #700

La Mesa, Ca 91942

(619) 207-4070

How Long Does It Take to Build Credit History From Scratch?

How long does it take to build credit history? If you ever plan to buy a house, establishing a track record of past payments is essential, because it proves to mortgage lenders that you’ve paid people back (which means they’ll be more apt to loan you money for a home).

Still, if you have no credit history—because you’re young or just never bothered—how long does it take to build it from scratch?

Here’s the straight dope: Done right, it can take as little as six months. Done wrong? It can take several years. So if you’re in a rush to establish credit to buy a home, you’ll want to know the right way to go about it! Heed this advice to learn what to do.

How long does it take to build credit?

At a minimum, you need to open at least one credit card in your name. From there, you just need to make a purchase using the card, and then make a payment. Once you’ve made your payment, your creditor will report your payment to one or more of the major credit bureaus (TransUnion, Equifax, and Experian).

“Typically, it takes at least three to six months of activity before a credit score can be calculated,” says Tracy East, director of communication at Consumer Education Services in Raleigh, NC.

Once you’ve established credit, you still have some work to do. Credit histories are scored based on performance, much like the grades you got in school. Healthy credit behavior—like on-time payments and staying well below your credit limit—lead to a higher credit score.

What’s more, there are two types of scores: VantageScores and FICOscores. Some mortgage lenders may look at a VantageScore, but FHA lenders are required to use FICO scores.

“After opening their first credit account and beginning to make timely payments, it will take at least three months for the person to generate a VantageScore, and six months to have enough information to create a FICO score,” says Martin Lynch, compliance manager and director of education at Cambridge Credit Counseling of Agawam, MA.

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And the longer you demonstrate good credit behavior, the higher your score can climb from there. In other words, a couple of on-time payments is nice, but years and years of on-time payments is far more impressive, and reflected in your score accordingly. In fact, the length of your credit history can count for as much as 15% of your credit score.

What credit score do you need to get a mortgage?

Your initial credit score when building credit will typically be in the 660s, which is considered on the low end of “fair” (fair scores range from 650 to 699). It could be just enough to buy a house with some lenders, but not all, because lenders vary regarding the minimum credit score they will accept.

You should also know that while a “fair” score may get you a mortgage, it won’t qualify you for the best mortgage—in terms of interest rates and other deals. To get better mortgage rates, you will need a good score (700 to 759) or an excellent score (760 or higher). Unfortunately, achieving these scores will take (you guessed it) more time.

How to speed up the credit-building process

To establish a payment history, use your card reasonably. Make payments on time (or early, if possible). Setting up automatic payments can help. East recommends keeping your balance below 30% of your credit limit and, ideally, paying it off in full each month. These simple steps will eventually push your score from fair to good to excellent, allowing you to get the best rates for your mortgage.

Here are some other ways to speed up the credit-building process and ensure your credit history and score get off to a good start.

  • Become an authorized user on someone elses account. This can be a parent, friend, or relative who has had the account for at least a few years and has a good payment history. You dont need to use the account or even have a card. Once youre added as an authorized user and that fact is reported to the credit bureaus, it will instantly affect your credit and may generate a score if you dont already have one or, at least, give it a boost.
  • Get a secured credit card or loan. If youre having trouble qualifying for a traditional credit card, try for a secured credit card, which is “secured” by a deposit. This means that if you default or stop paying, your deposit will be used to pay off the account. This lowers the risk involved for the lender, which makes it more likely to offer you credit even if you dont have an established credit history.

Also know that when it comes to mortgages, your credit score is just one piece of a larger puzzle. According to Lynch, your lender will also look at your employment history, how long you’ve lived at your current residence, and your credit references.

9250 Virginian Lane La Mesa CA 91941

I love the location of this home! Located in the Artist Colony of Mt Helix. With a Spanish exterior Vibe and a FULL detached casita you can have the best of both worlds… An in-law suite, rental income or a work from home space. The main house has just had new designer paint and carpet put in. Beautiful high end engineered hard wood and very open and bright floor plan. Super private back yard with a deck, jacuzzi, play set and so much more. Lots of storage!

5243 Landis St., San Diego, CA 92105

Fantastic San Diego real estate find! This beautiful home will sell fast! Enjoy the San Diego lifestyle in this fabulous 2 bedroom, 1.0 bath home.

2852 Conestoga Ct, Alpine, CA 91901

Gated Community w/ all the amenities. Horse/walking trails, private lakes, tennis courts, riding arenas, club house & more. Located off a very private cul-de-sac with a long sweeping driveway that brings you to a 3 car garage. Entry is formal yet very inviting. Potential for a bedroom on the main floor. Dining area, large “high end” kitchen with top of the appliances, inviting family room & large picture windows that allow the surrounding beauty in. Enjoy 5 star luxury? Then you’ll love the master suite!

9571 Tropico Dr La Mesa CA 91941

Mt Helix Mid Century home – SOLAR! ADU potential. Work from home? Want an incredible location? Looking for a low maintenance gorgeous yard? Seeking a space to for a granny flat? YES? This is the home for you. Mid century touches like a Jonathan Adler Chandelier, original tile in excellent condition, pristine wood floors, an eat in kitchen, vanity in master! All the little things that support that HIP mid century vibe! Mt Helix views & dual pane windows. Entertain in the 2 cabanas, built in BBQ and more!
What I LOVE about this home. If you are a walker, find the hidden trails to the top of Mt Helix. If you are a REAL walker, venture out to the village and Uber home after dinner and drinks. The back yard is magic! With 2 entertaining cabanas, built in amenities and jacuzzi, you’ll feel like you are on vacation at home. Solar is 2 years old and takes a the “big sting” out of electric bills. Dual pane windows and a whole house fan are also helpful. Xeriscape in the front not only adds to the appeal of this home but cuts water costs dramatically. Fruit and citrus tress. PS the neighbors love when we share lemons. One last thing, I love sitting at my dining table and looking out the windows, feeling like I am surrounded by trees. A true place to take a full exhale.

9400 El Tejado Road, La Mesa, CA 91941

This home has what every buyer wants, a space with the most upside potential in the BEST neighborhood. Nestled into Mt Helix with walk-ability to La Mesa Village you just need to bring your ideas and make it your own. Excellent opportunity for first time home buyer, Potential for ADU/granny flat already in place. Private street with minimal traffic, huge side patio with awning for entertaining, peekaboo views to the west, dining area or eat in kitchen space, newer HVAC unit, excellent schools and more.

104 E. Lewis St., San Diego CA 92103

Beautifully designed urban residence! Walk to the best restaurants San Diego has to offer, the Landmark Hillcrest Cinema and UCSD’s top notch medical facilities. Minutes to the airport and city amenities. Grand scale with tall ceilings and abundant light, plantation shutters throughout. Recessed lighting, granite and crisp baths. Master suite enjoys warm light, a huge bath with separate shower and a master closet about the size of another bedroom! Property features dual wall construction to buffer sound.

11630 Shadowglen Road El Cajon CA 92020

Located at the top of a long semi private drive, this 5,635 square foot home is the height of grandeur. Views of Mt Miguel, Mexico’s twinkling evening lights and over the top sunrises. Come and explore this custom home, walk the lot, enjoy the views, envision yourself living here. Be inspired to entertain on the 2,000 square foot deck. Sellers have had over 100 people in their beautiful home. Take a dip in the pebble bottom pool or have a fun ride on the rock slide! It’s not uncommon to see red tailed hawks and owls from the deck, you really are in the heart of nature while still being in the city.

9273 Wister Drive, La Mesa CA 91941

Located in the artist colony of Mt Helix. Magnificent north easterly views. View deck for entertaining, jacuzzi too! large covered back patio is a great space for BBQ parties, pool table, ping pong, you name it. 3 large bedrooms, 2 baths and a garage. Master has custom closet. Large eat in dining area with tons of easterly light. Hardwood floors, fresh paint, and manicured low water front yard. Custom awning off the front patio allows for entertaining with a view.

8436 Rumson Drive, Santee CA 92071

Carlton Oaks Community home in great location! Very private backyard backyard is West Hills High. . 4 bedroom with recessed lighting, large closets and 2 fully remodeled bathrooms. 300′ family room gives this home tons of room for family fun. Eat in kitchen is light and open. Custom laundry room. Home has all new dual pane windows. This location and home are an excellent find.

2715 Via Chinarros Alpine Ca 91901

Expansive European Villa in prestigious gated Rancho Palo Verde, perfect for today’s extended family. Wind your way through scenic trails, private lake and clubhouse. 5 br PLUS a bed/bath kitchenette suite for teens/grandparents AND large, poolside office/gym suite ideal for working from home or working out. Relax in your master retreat with en-suite office, fireplace and steam shower! Most rooms open to the sunny deck with views of mountains, sunsets and stars. 2 family rooms & kitchen with newer European appliances. Owned solar, huge garage with car charger. Welcome Home!

2018 Sales

A look back at 2018 and all of the wonderful homes that Jefi was able to help clients buy or sell. Presented by Jefi at THRiVE La Mesa

9127 Berkview

facebooktwitteryoutubegoogle-plusJefiRealtor@Gmail.com (619) 729-4185 facebooktwitteryoutubegoogle-plusJefiRealtor@Gmail.com (619) 729-4185 $500,000$500,000$500,000$500,000ABOUT 9127 Berkview Ln, Spring Valley, Ca 91977A warm welcome awaits as you are greeted by your...

8031 Sarawak Drive

Walk through the front door where you will find an inspiring home to call your very own. The alluring living area, dining room and stylish kitchen, all join together to where the open concept is perfect for captivating your audience.

672 Tyrone Street, El Cajon, Ca 92020

672 Tyrone Street in El Cajon, Ca is a spacious and elegant home. Listed at $699,000-$749,000 and located in the Fletcher Hills Neighborhood.

1527 Donita Drive, El Cajon, Ca 92020

Great Location with Panoramic Evening Lights & Mountain Views! 4 Bedroom Plus Office, 2.5 Bath Home Situated on Usable 1.39 Acres on Quiet Private Street with Horse Facilities & Potential RV Parking.

3863 Paula Street La Mesa Ca 91941

$475-499K. Quiet La Mesa cul-de-sac bungalow on a great street close to shopping, freeways and schools.

6625 Hillgrove Drive

This beautiful home located in the highly desired neighborhood of Del Cerro is ready for your family to move in! Contact Jefi at THRiVE Real Estate La Mesa.

2073 Via trueno

RANCHO PALO VERDE EUROPEAN VILLA sits atop a lush green, 2 acre lot, this 5 bed 3.5 bath European influenced home has all the amenities. Travertine flooring, 30′ foot ceilings, formal living and dining rooms, a first floor bedroom with en-suite bathroom. Large family room with surround sound, set off the “Cooks” kitchen and pool area

9773 Alto Drive

Beautifully landscaped .6 acre view lot with southwesterly views. Patios peppered around for maximum enjoyment. Granite boulders adorn the rolling landscape that holds this very special craftsman style home.

10465 Miracle Waters Ct.

facebooktwitteryoutubegoogle-plus JefiRealtor@Gmail.com (619) 729-4185 facebooktwitteryoutubegoogle-plus JefiRealtor@Gmail.com (619) 729-4185 Price Reduced: $574,000 - $599,000 3 Bedrooms, 2.5 Bathrooms, 1,918 SqFt Price: $574,000 - $599,000 3 Bedrooms, 2.5 Bathrooms,...

3660 Helix Street Spring Valley

525K-550K Enjoy southwesterly views from one of the 4 well maintained decks with access to dining room and kitchen. Remodeled bathrooms, all new carpet, paint, dual pane windows, solar and so much more. Enjoy the large landing above the family room. Vaulted ceiling and space to roam make this home extremely comfortable. The owners have loved this home and taken excellent care. Yard is very large and has tons of usable space. A very large stamp crete patio is perfect for entertaining or basketball!

4807 Sunrise Valley Dr

Gorgeous custom home in the coveted Horizon Hills area of Mt. Helix. Situated on a 3/4 acre lot at the end of a quiet cul-de-sac this 4 bedroom 3 bath open concept home is a great place to entertain both indoors & out.

5845 Jan Drive

Located in the sought after neighborhood of Fletcher Hills. Just blocks from Grossmont High, Harry Griffen Park and easy freeway access. This home has been completely redone inside and out.

4623 Harbison Ave, La Mesa, Ca

Priced to sell, Move in Ready, and Great for entertainment. This home is located in the heart of beautiful La Mesa and ready to be yours.

4500 Normandine Place

A beautiful home in the heart of La Mesa, with 3 bedrooms, 2 baths, an amazing yard with beautiful landscaping this home will not be on the market for long!

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