Bank pulled my Scores today FINALLY at 620!

[Anonymous]

My scores on My Fico are 609 EQ 619 TU Experian plus score 628

Bank pulled scores EQ 609 TU 620 (YEAH!!) and Experian 640! I did a prayer last night saying please god let the TU score be up one point when the bank pulls it. I am applying for a Soft Second Mortgate here in MA.

I have already applied for the Rural Direct Loan on 4/20 and have been waiting and waiting, so I am hoping one or the other comes through! I am so nervous being exactly at 620 because my TU score fluctuates all them time and I am nervous that they could pull my credit again if I get approved before I close.

But I am one step closer! I started a year ago in May and all of my scores were in the 400's. Even in April when the house came up for me I was at 580 and 580 and EX was 530! So I have done some major duty paying off, went to court to get a judgement vacated and essentially have spent the last two months yelling and screaming at creditors! Now everything is paid, except for Cap One who I can not get anywhere with but is coming off my report in December 2009!

Thank you to everyone on here for all of your advice and help and a Special Thank you to Shane, you are awesome!

Kemba

[granny031350]

congratulations and good luck on getting your home.  I worked hard too to get my scores up.  It is a great feeling when you see the results.

[Anonymous]

Ok so I have been working and working on this 620 and got to 640 but my mid score is 620. Sovereign Bank reviewed my credit today for the Soft Second Mortgage and called me back and advised I would not be approved because of the two Cap One Charge Off's on my credit report! I was not thinking that you get to 620 and they ignore these things but thought they would make you pay them at closing etc....They are six and a half years old due to fall off in Oct and Dec of this year! I am beyond frustrated! I have a signed p&s and will have to throw in the towel if I do not get approved soon (been waiting on USDA since 4/20) finally received a much awaited for response from them today that they will finish putting my file together and then some guy "Tom" will review it. That tells me nothing, this review could take another 30 days!

Anyone here in MA have any luck getting approved for a first time homebuyers through Mass Housing without perfect credit?

Going to have a much needed cocktail!

[tray]

Hi, i have read your thread and hope you are having any luck, I also live in ma and in July I am going to be going to lenders to purchase my first home through fha mass housing and I have collections not paid on my cr.  I have heard going for a fha loan  it is not as strict with credit issues as it would be with a conventional loan.  Are you going for a fha loan as well, have you tried other lenders, I will keep everyone posted on my progress. 

[nathan]

Always remember that a fico score alone will not guarantee a mortgage. Mortgage lenders look at the whole picture; not just scores.

[musikklvr]

Congrats!

[Anonymous]

The house I am buying is in Kingston, MA which is considered rural. I found out late Thursday that I got approved for the USDA direct loan. I would have applied for FHA but I am buying a house under 40b and I can not do FHA with that.

My process with USDA was as follows:
Applied on 4/20. They pulled my credit on May 20th, I immediately got a letter in the mail indicating I needed to come in for a meeting to discuss some deragotory credit issues. I went in on 5/28, I had some letters indicating things were paid. I explained my situation which was much in the past. They advised everything looked good. I had to forward to them some further info, my p&s, copy of my ss card and an updated letter on the ss benefits my daughter gets. I then spent a few weeks pulling my hair out, they contacted me for a credit explanation letter and then advised that my lanlord had not responded to the lanlord verfication, so I sent them copies of cancelled  rent checks and as soon as I forwarded I got the eligibility certificate. However I do not know the next step. Does anyone know if USDA does a committment letter? Am I all set now or do I have to go through further approval?