Waiting might help — but it could also cost you. Here’s how to decide.

If your credit score isn’t perfect, you might be wondering:
👉 “Should I wait and work on my credit, or should I buy now and start building equity?”

The answer isn’t the same for everyone — but here’s the truth:

✅ Sometimes waiting makes sense.
✅ Sometimes buying now — even with a lower score — is the better long-term move.

Let’s break it down so you can make the smartest decision based on your situation, your goals, and the current market.

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📉 When It Might Make Sense to Wait

You could benefit from waiting if:

• Your score is below 500 (FHA’s minimum threshold)
• You have large unresolved collections or recent delinquencies
• You’re about to pay off credit cards or loans that will boost your score by 20–40+ points
• You’ll qualify for a better loan program or rate by improving just slightly

💡 We can help run a simulator and show how much waiting might improve your numbers and options.

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🚪 When It Makes Sense to Buy Now

You may want to move forward now if:

• Your score is 580 or higher and you qualify for FHA with 3.5% down
• You’ve been renting for years and want to build equity instead
• You’re in a market where home prices or rents are rising quickly
• You have a stable job, reliable income, and just need a chance

Buying now could help you:

• Lock in today’s price before values rise further
• Start building equity and wealth
• Refinance later when your credit improves

📘 You’re not stuck with your loan forever — you can upgrade it later.

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💰 What’s the Cost of Waiting?

Waiting to raise your score could help you get:

• A slightly better rate
• A lower mortgage insurance premium
• More loan program options

BUT — you may also:

• Pay months (or years) more in rent
• Miss out on home appreciation
• Watch interest rates rise again
• Lose access to down payment assistance that’s available right now

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🧠 How to Decide: Wait or Move Forward?

Ask yourself:

1. Can I qualify now (even if the terms aren’t perfect)?
2. Is my housing situation stable — or am I throwing away rent?
3. Would homeownership improve my financial future, even with a higher rate at first?
4. Do I have a plan to refinance later when my score improves?

✅ At PRMI, we’ll help you evaluate both paths — and let your numbers decide, not guesswork.

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🏢 Why PRMI?

We help credit-challenged buyers:

• Buy now if you’re ready — with flexible FHA, VA, and Non-QM programs
• Build a 30–90 day credit plan if you’re close but not quite there
• Create a custom mortgage readiness strategy with real timelines and options

You don’t need a perfect score.
You just need a smart strategy — and someone in your corner.

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👇 Wondering If You Should Wait or Buy Now?

Let’s walk through your numbers, your timeline, and your goals — and help you make the smartest move forward.