All my student loans are comming off of default. I think some were reported late in Jan 12 (thanks for missing some loans William D Ford)
I have one Judgement for $5k private student loan that shows on EX and TU
and one collections showing on TU and EQ for $57 that I' trying to delete for a medical bill
My credit cards are all paid, still trying to build credit with them.
No other debt. (approved for Cap one $30k but I think i will not take it, house is more important)
MyFico TU was 632 pulled yesterday and my EQ was 656 pulled two weeks ago. My Capital One Experian score read 540.... That has a ton of student loans that have not been taken off still showing balance, and the same Civil Judgement for $5k
What do I need to get a mortgage. I found a house I want to buy recently, and I am trying to clean up my credit mess as fast as possible.
income from 8/10-12/10 was reported at $18.5 K
1/11-12/11 will be reported at $39k
and 1/12 to 12/12 $80-$100k
I will have around $15k - $20K saved by Summer for closing cost. I am a Vet so applying for first time home buyer VA loan.
Starting Score: 656
They take your midscore. So right now, your midscore would be at least 632, since you don't know whether your Experian FICO is above or below your other scores. There's one caveat to that. The TU FICO you pulled from this site is TU98. A lot of mortgage lenders use a newer version called TU04. You can't really know what your TU04 score is until it is pulled by the lender, and it can be significantly lower or higher than your TU98 score. There is no way that I am aware of for you to get access to your TU04 score except to have it pulled by a lender, so unfortunately, you can't check to see where you are at without incurring a hard pull.
Thank you for the reply.
Capital one did a hard pull according to the rep for my Auto loan, I was told they pull all 3, on my terms of the loan they had my 540 experian score listed. Do I have access to that hard pull for an approved auto loan from Capital one if they truely did pull all three scores? Knowing my own life, the TU04 score must be A LOT lower... it's how my life goes.
So if I am understanding this correctly, make sure my equifax and TU04 scores are as good as I can get them before I do a hard pull to get pre certified?
@Student_Loans_Kill wrote:Thank you for the reply.
Capital one did a hard pull according to the rep for my Auto loan, I was told they pull all 3, on my terms of the loan they had my 540 experian score listed. Do I have access to that hard pull for an approved auto loan from Capital one if they truely did pull all three scores? Knowing my own life, the TU04 score must be A LOT lower... it's how my life goes.
So if I am understanding this correctly, make sure my equifax and TU04 scores are as good as I can get them before I do a hard pull to get pre certified?
The TU04 score and TU98 score can go both ways. Mine was the exact same on a recent pull. I've seen it be better and worse. There was some anecdotal discussion recently that if your score is lower, then TU04 is typically lower than TU98, but I can't say one way or the other whether that hypothesis has been very rigorously tested.
The EX score may have been an Auto enhanced score. If you've had problems with Auto loans in the past, it might be lower than your standard EX score. I'm not real familiar with how those scores work, but I point it out since you mentioned it was for an Auto Loan.
In general, you do want to work on your reports as much as possible and try to get the two scores you have access to as high as you can. Just be prepared for the possibility that TU04 might not be where you want it. Best of luck.