I am completely new to this, and have just recently started to work on my credit score as I would like to buy a house this year.
I have two scores at 630 and one at 640 according to the plus score through my bank, my most recent late was 2 months ago with a charge off that was however paid in full immediatly, I wrote the company a GW letter.
Otherwise it is just Sallie Mae that has multiple late pays from 2007/8 so I am not sure where I stand and how likely it is to be pre-approved. I don't want to apply then be denied and it lower my score.
I am eligible for the VA loan if that makes any difference at all.
I don't know tons about this credit rebuilding thing because I'm still learning. But from the info I've gotten on here it's best to get a FICO score to know where you stand. Unless the bank that gave you your scores actually uses that scoring model for mortgages. It helped alot to know where I truly stood with the score that most lenders will use instead of FAKOs.
Thank you! Yes I am waiting on a resposnse from my GW letter and Verizon have said they are removing a couple of things from my report within 30 days so once that has happened I am going to get my FICO scores and compare them.
I have found that using some of the FAKO sites are helpful during the rebuilding process. Not so much for the scores, but for the ability to see what's in your credit file and attack that first. Annualcreditreport.com is the first palce to go to get all 3 credit files and see what information needs to be corrected, GW'ed or what may be hurting you in general. Spend time in the rebuilding fourm and focus on good credit habits first and foremost. I would run a FICO here to get a baseline score and probably subscribe to scorewatch as a way to montor the effects of what I'm doing.
My Credit Karma score (transunion) is 685. My Vantage score is in the low 800's, neither of them match the FICO scores my lender pulled (mid 728), so when you are ready to apply, make sure that 2 of your 3 FICO (EQ & TU) scores are in good territory. That way even if your EX score is below it won't matter as you will already know your lowest possible mid score already.