GOODBYE STRESS!!! (Hopefully)

[jcstarkey8826]

Ive been trying to find a broker that would provide the lowest amount of stress for my mortgage process. Well, today I found a broker working with 620 mid score for usda, told him about my employment, said it was fine because I have a good history and its obvious I've moved 1000 miles away and found a job one month later. Told him I only had 2, 7yr old TLs and 1, 6 month old TL, no lates for 2+ years, and he said that was no issue as well!

Before I messed up my CC util (took it up to 81%) I was at 639, so this month I WILL NOT miss the statement date, and pay them off! Hopefully I'll be back up around 640 again and can start looking soon!

He seemed to think I would have no issues with what I told him, but is he just trying to get my application in hopes of finding a lender or would he not even bother unless he felt I was good to go?

[FrugalRican]

Remember though, just because your LO thinks you are "good to go", doesn't necessarily mean that it will pass with flying colors with underwriting.

Not trying to be a debbie downer, but way too many stories of people "looking" like they're good enough but then don't meet certain conditions and get denied.

Are you still going to wait 3 months or are you looking to do this next month, now?

[jcstarkey8826]

for sure waiting. We've upped the amount of our savings goal because we just moved in with her parents to save 2k per month for a bit.

I know it doesnt mean for sure good to go, but nothing is ever truly good to go, its just nice knowing that he can work with less stipulations.

[Booner72]

Has he pulled your credit reports?  My LO spent two days on my file before submitting the preapproval letter - and the letter included conditions that she felt needed to be met.  She was right on, as the UW came back with some fiddly silly stupid stuff regarding conditions.  (And preapproval letters really aren't worth much anyway).

Just a brief phone call isn't going to cut it.  (Sorry, but you will probably be stressed the entire time like everyone is as it seems to be part of the process for those of us with credit problems).

Good Luck, nevertheless, and keep us all posted!

[jcstarkey8826]

I gave him my reports to avoid a pull and the fact that Im not looking for pre approval for another three months. I'm sure I'll be stressed. I've stressed about the whole process getting here. Before I had no shot. Now I have a shot. Just got rid of the stress of waiting another year to shop lol