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Valued Contributor
JM-AM
Posts: 3,303
Registered: ‎06-09-2010
0

Re: Denied on FHA today...when to re-apply again?

Congrats and good luck

Good Luck
May all your dreams and wishes become a reality!
Regular Contributor
ccubedzx3
Posts: 171
Registered: ‎04-30-2012
0

Re: Denied on FHA today...when to re-apply again?

Thank you!!! I feel like I have a golden ticket or something!! Now the hard part...find a place, and get a clear to close....hurdle after hurdle!

Starting Score:5/22/10 590
Current Score: 6/11/13 670
Lender Mid Score: 6/11/13 670

Goal Score: 700


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Valued Contributor
JM-AM
Posts: 3,303
Registered: ‎06-09-2010
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Re: Denied on FHA today...when to re-apply again?


ccubedzx3 wrote:
Thank you!!! I feel like I have a golden ticket or something!! Now the hard part...find a place, and get a clear to close....hurdle after hurdle!

You will get there, one step at a time.

 

Stay focused, and positive!

Good Luck
May all your dreams and wishes become a reality!
Established Contributor
westo12
Posts: 579
Registered: ‎07-20-2008
0

Re: Denied on FHA today...when to re-apply again?

So you got approved for an FHA loan with a recent 30 day late, and a 60 day late within the last 2 years?
2014 Starting-618, current TU638 (DiscTU 8/20) / Ending Goal score: 720 / 26 Positive TLs / 1 Negative: Unpaid $312 med CA placed 2010 / reported Install Bal/Lim: 17885/28512 | reported Revolving Bal/Lim: 12475/21082=59%util.

**IN the garden until I get some auto CLI's on major accts**
Regular Contributor
ccubedzx3
Posts: 171
Registered: ‎04-30-2012
0

Re: Denied on FHA today...when to re-apply again?


westo12 wrote:
So you got approved for an FHA loan with a recent 30 day late, and a 60 day late within the last 2 years?

I thought it wan't possisble, but I sent my lender a copy of my credit report that I had pulled to do a pre-preapproval so to speak.  Once she checked that over, she told me that she saw no issue with getting financed for a new home.  I don't know if it is because we have a very good debt to income ratio right now, or our income is good, or what, but i'm not going to fight it! Another thing too is, we plan on doing a new build which is an 8 month process.  By the time the house is complete, all the time would pass that would age the lates.


Starting Score:5/22/10 590
Current Score: 6/11/13 670
Lender Mid Score: 6/11/13 670

Goal Score: 700


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Established Contributor
westo12
Posts: 579
Registered: ‎07-20-2008
0

Re: Denied on FHA today...when to re-apply again?

I need to work with your lender lol. :smileyhappy:  No, I want to pay off a few things before I even get the courage to apply for a home loan.  Feel in some way, that's what I need to do.  Something about not wanting to app for a home loan until I have at MINIMUM mid score of 640, at least 8-10% down, and no lates within a year and no derogs over 500. Pretty much afraid of the rejection!

2014 Starting-618, current TU638 (DiscTU 8/20) / Ending Goal score: 720 / 26 Positive TLs / 1 Negative: Unpaid $312 med CA placed 2010 / reported Install Bal/Lim: 17885/28512 | reported Revolving Bal/Lim: 12475/21082=59%util.

**IN the garden until I get some auto CLI's on major accts**
Frequent Contributor
birjest
Posts: 351
Registered: ‎09-23-2011
0

Re: Denied on FHA today...when to re-apply again?

I am so HAPPY FOR YOU!!! All Engine Ahead FULL!!!!!

11/15/13 EX 685(MY FICO) EQ 657(MY FICO) TU 659 (MY FICO).
Regular Contributor
ccubedzx3
Posts: 171
Registered: ‎04-30-2012
0

***UPDATE 6/11/13 WE ARE CLOSING TODAY ON A NEW HOME!!!!****

[ Edited ]

Just an update to everyone:

 

Back in April of 2012, we were originally denied on a FHA preapproval.  We were shattered, we were broken, but with the help of this site, we managed to take care of business and get on track.   We wrote goodwill letters, I asked a collection agency to remove the mark on my report before it ran its course, we paid down our balances, we sought out advice, we received help from people here, and from all of that, we got approved back in July of 2012. 

 

Once we got approved, we signed a purchase agreement on a new construction home on September 2012.  We formally re-applied April 6th of this year, and got conditionally approved.  We slayed the conditions, wrote some LOE's, and here we are today on 6/11/13 and we are closing today at 4pm!!!

 

I am so excited as this is the hardest thing I have worked for in my adult life.  All the determination, and all the help you guys gave me here are the reason we are going to be able to purchase our dream home!!

 

The build process was fun, it was trying, it was stressful.  In the end, we learned so much about credit, so much about the build process, and so much about the mortgage process.  It has been a fulfilling year to say the least.   My kids will no longer need to share a room, we will actually have tons of space to entertain, and my personal confidence has skyrocketed from all of this.

 

If you were ever knocked down, don't give up...press on!! I have been down, but now I am up higher than ever before.  Work hard, learn as much as you can, ask for help, and you too can make it happen!!!

 

THANK YOU TO ALL THAT HAVE EVER RESPONDED TO MY POSTS!!!!!!   I could not thank you enough, nor express my appreciation enough!!!

 

 


Starting Score:5/22/10 590
Current Score: 6/11/13 670
Lender Mid Score: 6/11/13 670

Goal Score: 700


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Regular Contributor
cclee
Posts: 223
Registered: ‎08-10-2012
0

Re: Denied on FHA today...when to re-apply again?

Wow, you have been at this a long time, CONGRATULATIONS!  Enjoy your new home, you deserve it!



In The Garden Until 11/01/15 - Last App 11/03/13
Valued Member
NyssaHoney
Posts: 45
Registered: ‎09-20-2011
0

Re: Denied on FHA today...when to re-apply again?

Congrats! I admire your determination.


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