Ch 7 Rebuild update and next steps. Please Help!

[Anonymous]

Okay a little bit about my history and my rebuilding journey.

I filed for ch 7 bankruptcy June 2014 discharged October 2014.
Found MyFicoForum and rebuilding guide to 700 December 2015.
Jan 2016 Applied for capital one secured card for $300 and credit one card for $450 and approved for both.
March 16 started out as $500 CL Platinum card, also had a Quicksilver one for $500 built both up to $2250 converted the quik silver one to a quiksilver, then combined the platinum into the quiksilver for a $4500 CL and currently have a $2600 balance on it. 
Credit one card opened January 16 with a $650 CL.
Synchrony card $2000 CL with a $0 balance
Jared card $3200 CL $0 balance
Recently paid off a $1,000 Credit builder loan from best bank since they closed down.
Current scores as of today
EQ 8 629 EQ 9 597 EQ 5 mortgage 657
TU 8 644 TU 9 662 TU 4 mortgage 671
EX 8 645 EX 9 679 EX 2 mortgage 664
EQ 4 inquiries most set to fall off by april 2018
TU 6 inquiries most set to fall off by april 2018
EX 7 inquiries Inquiries most set to fall off by april 2018.

On my credit report, the accounts that I ended up including in my bankruptcy were all opened between december 2010 and april 2011 so I'm wondering even though they are included on ch 7 bankruptcy for 2014 do they fall off individually 7 years later in 2018?
Nothing in collections, all previous old accounts were IIB and show up as paid 0 balance.
No late payements currently just the ch 7 bankruptcy on there.

I have just recently signed up a with a saving accounts with Navy Federal CU and signed up with USAA membership.
At this point, I'm wondering if I apply for another capital one card like the platinum, venture one what I would expect my offered CL to be or should I apply?
At this point in my rebuilding and with my prior CH7, do you think I could qualify for a Discover card, chase or should I go after any others to have and finally close my credit one?

In my Ch 7, I burned Wellsfargo with two $4000 credit cards maxed out, burned cap one who now is my best friend and burned shell/cbna with a $500 card.
I want to apply for a mortgage at the end of 2018 with my fiancee and I know her credit factors in etc but just based on mine does it look like I should go the FHA route or a Navy Federal no PMI mortgage? We will at most have probably $15-20k down payment on a loan between $215-245K in metro Atlanta Georgia.
My fiancee doesn't have a bankruptcy or anything major on her credit but for some reason last year she stopped paying on her student loans so she has late payments of over 6months and when I found out I totally freaked out and talked to her so now she's paying on those but not sure how she can correct that on her credit report and her score is in the high 590's now. Any ideas how to fix her late payments for student loans?
Would USAA be out of my reach based on my credit alone or is Navy Fed or FHA a better option?

I just want to know what steps should I take on the next credit cards in building my resume.

Which route should I go in terms of mortgage?

When should I expect to get over 700?

[medicgrrl]

First, you need to get the balance paid down on that card. It's holding your scores down. Second, do you have any installment loans open? If not, look into the Alliant SSL. Third, I would not apply for any additional cards until you pay down your current card to less than 9%, after that, you may be good to go for a NFCU card. After you get your card paid down, I would close Credit One. No need in paying fee's when you have other cards.

As far as your fiancee, are her loans showing current or in default on her report? Does she have any revolving debt/credit cards?

[Anonymous]

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@medicgrrl wrote:
First, you need to get the balance paid down on that card. It's holding your scores down. Second, do you have any installment loans open? If not, look into the Alliant SSL. Third, I would not apply for any additional cards until you pay down your current card to less than 9%, after that, you may be good to go for a NFCU card. After you get your card paid down, I would close Credit One. No need in paying fee's when you have other cards.

As far as your fiancee, are her loans showing current or in default on her report? Does she have any revolving debt/credit cards?

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medicgrrl beat me to the installment loan question / SSL recommendation

USAA is not at all BK friendly. When you're ready, you're much better off trying Navy.

[Anonymous]

Also, is it more important to pay down my student loan debt doen from 19k before my mortgage or focus on building upna bigger down payment? Also does FHA, Navy federal non fha with no pmi or another lender sound like a better route?

[Anonymous]

Thanks for the advice yeah I had credit builder loan Ill look into another. So pay down capital one card would capital one most likely offer me a 4500 CL or more like my current card? Is venture one or discover IT a worthwhile card?

[medicgrrl]

Discover is a very good card, but I think you'll have better luck once you pay down the current card... that's a pretty high utilization. Cap1 isn't giving the greatest CLI's right now. I think you'll have better odds at building up a Discover card and a NFCU card...after you pay down the current card.

Paying down student loans vs a larger down payment is difficult to say right now.... it's really going to depend on rates in the future. Payment wise, you would probably be better to put the money towards the student loans.

As far as loan comparisons, I'm not familiar enough with NFCU mortgage products to give you an opinion. I would post that question in the mortgage forum.

[StartingOver10]

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@Anonymous wrote:
Also, is it more important to pay down my student loan debt doen from 19k before my mortgage or focus on building upna bigger down payment? Also does FHA, Navy federal non fha with no pmi or another lender sound like a better route?

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How much are your Student Loans (balance, payment and interest rate)?

Remember, the mortgage lender is going to use the payment for your debt, including student loans, as part of your DTI ratios.  If you pay down your student loans, it doesn't affect your ratios because its an installment loan with the same payment until its paid off.  

Also, that Navy loan with no PMI has a much higher interest rate as they build into the rate your PMI and closing costs (if you go that route). 

Have each lender calculate the payment based on their individual program and provide to you a detailed itemized worksheet or Loan Estimate showing exactly what your cost would be based on a realistic purchase. This will tell you which way to go.  If it were me, I would go with FHA rather than the higher loan payment that rolls everything in but that is me. You need to look at it from your own POV.  

If you can get a VA loan - that is by far the best way to go. No PMI and no artifically built in higher interest rate. But you have to be a veteran to get it and there are some criteria to meet even if you are a veteran. 

[Anonymous]

Hey, 

    My student loan debt is about 19k but I'll be in school through the end of 2018 so I don't have to make payments now. Once I start repaying, my monthly payment is about $160 a month. I'm not a veteran so unfortunately won't qualify for VA or conventional I guess because my Ch 7, sounds like FHA is the way to go! Thanks for all of your help everyone! This is why I love these forums.

Thanks,

Stephen

[StartingOver10]

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@Anonymous wrote:

Hey, 

    My student loan debt is about 19k but I'll be in school through the end of 2018 so I don't have to make payments now. Once I start repaying, my monthly payment is about $160 a month. I'm not a veteran so unfortunately won't qualify for FHA or conventional I guess because my Ch 7, sounds like FHA is the way to go! Thanks for all of your help everyone! This is why I love these forums.

Thanks,

Stephen

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Veterans use VA loans.  You can qualify for FHA two years after your discharge from Bk if you have rehabbed your credit  

[Anonymous]

Sorry for the typo meant wouldnt qualify for VA or conventional due to no military and ch 7. What scores are needed to get in the lowest rates for FHA? Are they still offering the home buyers credit?

Thanks,

Stephen