@Anonymous wrote:
Hello all. Was wondering what are my chances of getting approved for a home loan. This will be my first time. I'm currently on a road to rebuild my credit as I've made mistakes when I was younger. My experian Fico score is currently at 619. EQ 604.
I have two public records 1 satisfied from 2011
I have some late payments from private loan Chase but no lates in past 13 months.
I also have 2 Medical Collections: 3,000 currently on payment plan and the other 2,000 that stated they will not die PFD of balance paid both from 2013.
I have secured card 108/300 limit This is 36% of your credit limit
JCP card 70/500 limit This is 14% of your credit limit
And Care Credit 157/800 limit This is 19.6 of your credit limit
Also have about 50,000 in student loans currently doing IBR
I have no rent, nor car payment. Just utility bills and student loan payment, cell phone. What are my chances or advice to get there. Only need home loan of about 125k-150kmax. Thanks. This is my first post as I've been reading forums for the past year and have thus got my credit up from low 500s to now 619. Was 624 in April :-(.
Welcome to MyFICO! 
One of the items I notice here is that you have all three of your credit cards reporting a balance. If you only have 3 cc's, then the thing to do is pay off any two of them so they don't report a balance at all and let the third one report a balance of anywhere from 1% to 9% of it's credit limit. You should see your scores increase.
Is the 619 a FICO 8 score or your FICO mid mortgage score? The FICO mortgage scores are available on the 3B reports here - they are different from the free scores you get from the cc companies even if they are FICO scores. Read the top of the mortgage section for an explanatiom of the mortgage scores.
One of the items you will want to bring up to your LO is the fact that you pay no current rent. There is a calculation that the lenders do called a 'payment shock' and this may hurt your chances. Find out from the LO what other factors you have that can overcome payment shock.