Mortgage Loans

[betsy99]

 Does a higher FICO make you an easier approval? Or doesn't matter if you are 640 or 680 or 720?

 Right now I am 621/659/???, hopefully get that 621 above 640 here in the next 2 months, then don't need to worry about what my EX score is, though it has to be about the same because all 3 are identical... same lates, no collcections, no judgements etc..

[bruiseviolet]

It really depends on the loans.  I have a lower credit score, and was approved for an FHA mortgage.  Usually your credit score is more to get a better interest rate etc...  I'm sure someone would approve you with that score-  but you never know.  Sometimes they suprise you. lol

[raleighmortgagegals]

You don't mention whether your judgments and collections are paid.  I'm in the mortgage business and we look at more than just your score.

[betsy99]

I have no collections or judgements...

Just a ton of lates in 2005(job loss) and then 2 CC's that went late for 3 months in early 2010, one 30 days and the other  60 days, its when we signed up with CCCS for a DMP, was confusion on my end, thought if I made that payment all cards would report current...

[raleighmortgagegals]

Looking good.  Underwriters are more strict on mortgage/rent lates.  Can't have that within a year of applying for FHA loan.  Credit card should be OK.

[betsy99]

Last mortgage late was in 2005..