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Hello Everyone,
I need some advice before I let another loan officer pull MY CREDIT. I applied for a loan with Wells Fargo with a middle credit score of 612, the loan was denied after a month of review. :-( Now the builder would like for me to work with another preferred bank but I am starting not to have confidence in their help. So I went to my bank Fifth Third Bank for pre approval. My middle score is 634 and they have approved me for the amount of the home.
Here my problem:
I have not gone through the Underwriting with Fifth and they request $400 for appraisal that's nonrefundable during this process. My realtor advised that I should not do this because if Well Fargo denied me then there is a good chance that Fifth Third will deny the loan as well. What should I do? I realtor has a broker that she would like to recommend.
Thank you for the response. The loan officer said 620 but he might not be providing me with the truth.
Could be. I wasnt 100%...just what i thought I came across before. But there are lenders at the 620 so wouldnt surprise me.
5/3 is good though. Fannie Mae just named them their top servicer...which may or may not mean alot when you think of how bad some other servicers are like BOA and Ocwen...but I havent heard much in complaints from clients with 5/3 loans.
Can you give more info about your credit? Cards/limits, baddies, average age of accounts, etc. What's your income, home price, DTI?