Reply
Established Contributor
Posts: 1,011
Registered: ‎04-08-2012
0

Conditional approval

Finally much closer to the finish line! I was super excited when I got the email from my LO. Now I'm worried about the conditions as he still has to print them out and go over them with me by phone later.

From all I read here, I know UW can either make simple or insane requests. Here's hoping for the simple so I can close by next week. Will update for more later.
-Rebuilding with CapOne Cash: $1.5k, NFCU cashRewards $8.5K, NavCheck $5K, Wal-Mart: $1.1K, Sam's: $1.2K, Amazon: $1.9K, Apple Barclay: $3K, Haverty's: $1.5K, GE capital: $5K, Sears: $250(AU), PP MC:$1.5K, CareCredit:$3K (closed 1st home 05/08/13)
Starting Score: 492-TU04, 480-EX FICO V2, 467-EQ Beacon 5 (Via Mortgage PreQual March '12)
Current Score: EX,EQ,TU (lender pull): 652, 659, 689, Walmart TU FICO: 691 (05/13)
Goal Score: 700

Take the FICO Fitness Challenge

New Contributor
Posts: 96
Registered: ‎04-12-2012
0

Re: Conditional approval

Good luck with your conditions. Hopefully you have a better time on this than I actually am (going on 3 weeks).

Lender Pulled Credit Rating as of 4.10.2013. (Fico Experian: 660) (Fico TU: 685) (Fico Equifax: 659)
Established Contributor
Posts: 1,011
Registered: ‎04-08-2012
0

Re: Conditional approval

So sorry to hear that, don't these UW realize how stressful multiple times "under the knife" can be. I hope this ends for you and you hear those 3 magical words very soon.
-Rebuilding with CapOne Cash: $1.5k, NFCU cashRewards $8.5K, NavCheck $5K, Wal-Mart: $1.1K, Sam's: $1.2K, Amazon: $1.9K, Apple Barclay: $3K, Haverty's: $1.5K, GE capital: $5K, Sears: $250(AU), PP MC:$1.5K, CareCredit:$3K (closed 1st home 05/08/13)
Starting Score: 492-TU04, 480-EX FICO V2, 467-EQ Beacon 5 (Via Mortgage PreQual March '12)
Current Score: EX,EQ,TU (lender pull): 652, 659, 689, Walmart TU FICO: 691 (05/13)
Goal Score: 700

Take the FICO Fitness Challenge

Established Contributor
Posts: 1,011
Registered: ‎04-08-2012
0

Re: Conditional approval

[ Edited ]
As a side note, I really hope webhopper sees this, she knows what a journey I have been on since last year. (Rootpooty does too)
-Rebuilding with CapOne Cash: $1.5k, NFCU cashRewards $8.5K, NavCheck $5K, Wal-Mart: $1.1K, Sam's: $1.2K, Amazon: $1.9K, Apple Barclay: $3K, Haverty's: $1.5K, GE capital: $5K, Sears: $250(AU), PP MC:$1.5K, CareCredit:$3K (closed 1st home 05/08/13)
Starting Score: 492-TU04, 480-EX FICO V2, 467-EQ Beacon 5 (Via Mortgage PreQual March '12)
Current Score: EX,EQ,TU (lender pull): 652, 659, 689, Walmart TU FICO: 691 (05/13)
Goal Score: 700

Take the FICO Fitness Challenge

Established Contributor
Posts: 828
Registered: ‎12-09-2012
0

Re: Conditional approval

Congratulations!  Great job in pulling your scores way up in only about a year! Wow!

Valued Contributor
Posts: 3,406
Registered: ‎12-19-2012
0

Re: Conditional approval

+1, Congrats! Wishing you the best.
Cards: Orchard Bank ($1100) | Cap1 Cash Rewards ($2500) | Chase Freedom ($1000) | Best Buy ($2500) | Discover It ($1000) | Barclay Rewards ($2500) | Current scores: EX FAKO: 684, CK TU: 649, FICO EQ: 680, FICO TU: 698, FICO EX: 658 Happy Homeowner Since 2/6/13! :smileyhappy: Last App: 4/5/13 Gardening until July 2014
Established Contributor
Posts: 1,011
Registered: ‎04-08-2012
0

Re: Conditional approval

Thanks guys. Got my conditions and now I'm nervous.
Vor
Letter from donor for down payment
Clearer copy of bank statements
Information on my IBR for student loans

I'm nervous for 2 reasons:
I've been late in my rent in the last year (thought if I got a high enough score, I wouldn't have to worry about this)
I have the same uw as a friend of mine who is a stickler about IBR
-Rebuilding with CapOne Cash: $1.5k, NFCU cashRewards $8.5K, NavCheck $5K, Wal-Mart: $1.1K, Sam's: $1.2K, Amazon: $1.9K, Apple Barclay: $3K, Haverty's: $1.5K, GE capital: $5K, Sears: $250(AU), PP MC:$1.5K, CareCredit:$3K (closed 1st home 05/08/13)
Starting Score: 492-TU04, 480-EX FICO V2, 467-EQ Beacon 5 (Via Mortgage PreQual March '12)
Current Score: EX,EQ,TU (lender pull): 652, 659, 689, Walmart TU FICO: 691 (05/13)
Goal Score: 700

Take the FICO Fitness Challenge

Frequent Contributor
Posts: 353
Registered: ‎05-01-2007
0

Re: Conditional approval

Were you 30 days late on your rent?  Or did you just turn it in a couple days late?

2011: EQ 580~
2012: EQ 620~
2013: EQ 641, TU98 645, TU04 635, TU08 635, EX 648 (lender)
Closed on first home 4/25/13.
Established Contributor
Posts: 1,011
Registered: ‎04-08-2012
0

Re: Conditional approval

No it was only a few days.
-Rebuilding with CapOne Cash: $1.5k, NFCU cashRewards $8.5K, NavCheck $5K, Wal-Mart: $1.1K, Sam's: $1.2K, Amazon: $1.9K, Apple Barclay: $3K, Haverty's: $1.5K, GE capital: $5K, Sears: $250(AU), PP MC:$1.5K, CareCredit:$3K (closed 1st home 05/08/13)
Starting Score: 492-TU04, 480-EX FICO V2, 467-EQ Beacon 5 (Via Mortgage PreQual March '12)
Current Score: EX,EQ,TU (lender pull): 652, 659, 689, Walmart TU FICO: 691 (05/13)
Goal Score: 700

Take the FICO Fitness Challenge

Frequent Contributor
Posts: 353
Registered: ‎05-01-2007
0

Re: Conditional approval

They only care if you are thirty days late.  I doubt your property management or landlord would even keep track otherwise.

2011: EQ 580~
2012: EQ 620~
2013: EQ 641, TU98 645, TU04 635, TU08 635, EX 648 (lender)
Closed on first home 4/25/13.

Get a myFICO recommended credit card

Copyright ©2001-2013 Fair Isaac Corporation.
All rights reserved.

IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions based on Experian or Equifax data (additional FICO® Score versions based on TransUnion data are not currently available on myFICO.com). Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.