Frustrated

[Anonymous]

We have diligently working on our credit for the last 18 months. MMS used to be 486... Now it's 616 for my Husband and 677 for me.  So we talk with mortgage people every 6-7 months or so and now we need a higher score. The one I am working with now wants a 620, his add said 600... 4 points away and just feel like we will never make it

[Anonymous]

Welcome to the board.  Without knowing much about your credit history, it will be hard for good responses.  So first start by posting what is holding your score down.  For example, do you have negatives?  What is your credit utilization etc....

[Anonymous]

There are no baddies for me, utilzation is 60%. Hubby's got 2 baddies that are both old. Mortgage guy said not to worry about them, one is $508 and the other is $1096. We are going for FHA. His utilization is 20%. This is all amazing compared tonwhere we were last year... it just seems like it will never happen

[Anonymous]

Lowering our utilization gave my husband the biggest mortgage score jump! We are going through the same thing and it can definitely be frustrating.  We started at 590 for a middle mortgage score and are now at 654.  Whenever I get discouraged I try to focus on how far we've come! Good luck!

[Anonymous]

Thank you

[DallasLoanGuy]

i would try another lender.

deals are happening at 580 - 600 all the time.

also, a good lender can run a score simulator for you to find those 4 points if needed. typically get a little better deal at 620+

[Anonymous]

All he keeps telling me is wait until months end... we were waiting for a disputes to be updated which is done and my hubby's credit card to update. I don't want to buy another 3B... grrrr lol

[DallasLoanGuy]

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@Anonymous wrote:
All he keeps telling me is wait until months end... we were waiting for a disputes to be updated which is done and my hubby's credit card to update. I don't want to buy another 3B... grrrr lol

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you have open disputes?

if you have open disputes.... you should not be applying. waste of everyone's time. 

a disputed item isnt scored by fico.... so you get a false score.

[Anonymous]

The disputes are off the reports.

[Anonymous]

Unless you have to go FHA, you may try a conventional loan. Neither likes baddies but IMO, FHA can be more rigid.

I would research the credit unions in your area and open a dialogue with a couple to see what they have to offer and what their minimum requirements are to apply/secure a conventional loan.

Best of luck!

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