Ive been trying to raise my mid score to 640 but it seems its not going to budge any more. In the past 30 days I've paid off 3 cards completely and dropped my utilization from 45% to aprox 10%. I only owe another $1200 in cc debt.
1. Mortgage scores - EQ 638 TU 650 EX 610
2. Negatives- 4 medical collections all of which are several years old total debt $1269
3. Income- $47500
4. Source of income - Regular W-2 . I work for a federal agency and have been on the job for 5 years.
5. Monthly Debt - $98 that's the min payment on my 3 remaining credit cards and a $33 student loan payment.
Student loan balance $44780 - pmt $33. I am on an ibr plan and debt will be gone in 5 more years using public service loan forgiveness. It lists on my credit report as $33 for the remainder of the loan. 233 months.
6. Employment - Regular W-2. I work for a federal agency for the past 5 years.
7. Assets - I have $11000 in savings and another $25000 in 401k funds from a previous job.
8. Location - Cincinnati, OH 45239
9. Property - Single family home - completely redone. 4 bed 2.5 bath
10. Value - House we want is listed at $129000
11. Occupancy - myself, husband who earns $47500 at the same job at the same federal agency. He is not listed on the loan due to student loan issues destroying his credit. 2 children. I will be living in the house.
12. Transaction type - purchase loan. Planning on FHA.
