@eugenepark81 wrote:
Update: I ended up not going through with the loan as I'll be moving in Feb and I decided to wait to purchase until after. I returned from a business trip a couple weeks ago and found a letter from Capital One dated Dec 8 stating that my application was rejected due to credit deliquency and high utilization (44%), with a TU score of 620 (not sure if that's the auto-enhanced score. Really odd that I was initically accepted via email then later rejected by mail.
My FICO (EQ) is now at 659 and I'm hoping to have increased it enough by February to be accepted for a loan by then. My utilization should be down to ~30% by then and I'll hopefully have a charge-off on my TU removed.
I think you have a fair amount of time to work on both the factors to increase your score and get best possible rates.
