Can I get a better rate????Judgement Removed scored increased 32 points!!!

[thross8512]

Hi everyone-

I was preapproved for a mortage loan about 3 weeks ago.  My middle score was 638 (Equifax) trimerge then I pulled on the same day 632(Equifax with MyFico).  The loan officer indicated that as long as I paid my bills on time for the next month getting to 640 wouldn't be a problem.  I had a judgement on my report that was in dispute at the time and he told me that I would have to pay the judgement before I could  close.  Fast forward a little, I paid off the judgement off on Thursday, even though it was in dispute but had to be paid anyway.  The results of the investigation came back this past Monday and the judgement was deleted from my credit report! I pulled from my fico Monday and my score jumped 32 points.  My question is should I ask my loan officer to go back and rescore me based on this deletion?  Would this give me a better intrest rate?  Any advice would be greatly appreciated.

[Legal_Girl]

You said it shows as being deleted from Equifax, but what about Experian and TU?? If Equifax was your middle score when you were approved for your mortgage, what were the others?? 

[thross8512]

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@Legal_Girl wrote:

You said it shows as being deleted from Equifax, but what about Experian and TU?? If Equifax was your middle score when you were approved for your mortgage, what were the others?? 

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Equifax was the only CRA that the judgement appeared.

[Legal_Girl]

My suggestion would be to call you LO & ask him or her.  It may not be enough to hit that magic number that would lower your rate especially since they pulled a trimerge..  But I would be calling as soon as possible to find out.  Good luck and keep us posted on your journey.

[guykara]

Grats on the 32 points! I would definitely call your LO.

[dzemboc77]

Keep in mind your scores you get are not the same that the lender pulls. my EQ was off about 80 points (higher) then what my pull was. Also I had the same questions and my lender said it really wouldn't make a difference since I was going FHA 10-20 points wouldn't change anything. I did 4.25% but could have gotten 3.75 with a 639 middle. After my initial pull I had to pay off 1 collections and 2 of my credit cards limites doubled $1250 incease each. My score went up 40 points the following month. Unless you need the points to qualify for example your looking at switching from FHA to Conventional I wouldn't stress over it. For me I dont have enough for 20% down so I didn't care. 

[DallasLoanGuy]

fha or conventional?

conv uses risk based pricing and this could affect rate/fees

fha doesn't.   typically a tiny improvement over 660 oir 680.....  but almost all borrowers(and scores) get the same rate on fha