No credit card required
Browse credit cards from a variety of issuers to see if there's a better card for you.
Ok, we met with the lender yesterday. Our contact is the VP of mortgages at a regional bank. She pre-qualified us based on the info I gave and the printouts of the scores I pulled for my husband the day before. She did not pull our credit. Someone said that the experian score from the experian website is not a FICO score? Does that mean that when the lender pulls it, it will be significantly lower?
At any rate, we're meeting with our realtor today. We plan to be under contract by the end of this month, and close by the end of June. By then, hopefully the negative accounts we've been working on will have been deleted per our agreements. Does anyone know how to speed up that process? What about rapid rescores, how does that work?
Thank you all for your responses!
@Anonymous wrote:
Ok, we met with the lender yesterday. Our contact is the VP of mortgages at a regional bank. She pre-qualified us based on the info I gave and the printouts of the scores I pulled for my husband the day before. She did not pull our credit. Someone said that the experian score from the experian website is not a FICO score? Does that mean that when the lender pulls it, it will be significantly lower?
At any rate, we're meeting with our realtor today. We plan to be under contract by the end of this month, and close by the end of June. By then, hopefully the negative accounts we've been working on will have been deleted per our agreements. Does anyone know how to speed up that process? What about rapid rescores, how does that work?
Thank you all for your responses!
If I may ask, if your time frame to purchase is so short, why not just go ahead and get pre-approval? It would be a shame to go through whole house hunting process, only to find out that when your credit is formally pulled for the approval that it doesn't go through.
As has already been posted, the Experian score from the Experian website is most certainly NOT a FICO score. It will not be used by the lenders for mortgage approval. And it is impossible to predict whether actual EX FICO score will be higher, lower, or the same as the score obtained from their website.
We're holding off because my husband's score is borderline, and we have some deletions pending that should help his situation. We don't want to pull his credit and have the inquiry ding his score enough to not qualify.