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Member
Yumsetti
Posts: 6
Registered: ‎01-22-2013

Got my preapproval!

I wrote here a few weeks ago about my low scores and wanting to get approved for a loan.  Well, I paid off my credit card to 15% utilization and my MyFico score went from 634 to 659 about a week ago.

 

I applied for pre-approval today and 659 was my middle score from EQ - the others were 658-EX and 671-TU. 

 

I have a clean 3 year payment history, but one medical collections that i paid as soon as I found out about it in March 2012.  The LO said they ignore medical collections anyway. 

 

So, I got pre-approved for a USDA Rural Development loan and an FHA loan.  I don't have a huge down payment or else there were some other loans that i could have chosen.  I already have a sellers agreement signed for a house that I love and the contract was dependent on this preapproval. 

 

Let the games begin!  For anyone else working towards pre-approval, Keep Truckin'!

New Member
sonicxtacy02
Posts: 11
Registered: ‎02-07-2013

Re: Got my preapproval!

Congratulations!  I remember how excited we were getting our preapproval letter.  Hold onto that good feeling over the next several weeks as the mortgage company delivers repetitive kicks to the gut until you finally close lol

New Contributor
slappymancuso
Posts: 167
Registered: ‎12-04-2012

Re: Got my preapproval!

[ Edited ]

sonicxtacy02 wrote:

Congratulations!  I remember how excited we were getting our preapproval letter.  Hold onto that good feeling over the next several weeks as the mortgage company delivers repetitive kicks to the gut until you finally close lol


Aint that the truth? 

 

Congratulations though!  First big hurdle = cleared.  Good on you!

Valued Contributor
JM-AM
Posts: 3,303
Registered: ‎06-09-2010

Re: Got my preapproval!

Congrats have fun in your new home
Good Luck
May all your dreams and wishes become a reality!
Established Member
TnTNYC
Posts: 30
Registered: ‎11-17-2012

Re: Got my preapproval!

Congtratulations, and best of luck.


Starting Score: 707 (Experian); 702 (Equifax); 740 (TransUnion)
Current Score: 777 (Experian); 774 (Equifax); 782 (TransUnion) as of 12/24/2013
Goal Score: 800


Take the myFICO Fitness Challenge
Valued Contributor
Epcot
Posts: 2,777
Registered: ‎10-10-2012

Re: Got my preapproval!

Good news, Congrats!

Starting Score: EQ 717 EX 724 TU 736
Current Score: EQ 809 EX 774 TU 805
App free since 4/11/13
New Contributor
BCullum
Posts: 157
Registered: ‎01-09-2013

Re: Got my preapproval!

Home buying...a roller coaster of eff'd up emotions. Cherish this feeling as it will last all of about a week. 

Lender Pull EQ 745 EX 734 TU 722
Valued Contributor
MovingForward_2012
Posts: 3,406
Registered: ‎12-19-2012

Re: Got my preapproval!

Congrats and I fully agree with everyone's comments! :-)
Cards: Orchard Bank ($1100) | Cap1 Cash Rewards ($2500) | Chase Freedom ($1000) | Best Buy ($2500) | Discover It ($1000) | Barclay Rewards ($2500) | Current scores: EX FAKO: 684, CK TU: 649, FICO EQ: 680, FICO TU: 698, FICO EX: 658 Happy Homeowner Since 2/6/13! :smileyhappy: Last App: 4/5/13 Gardening until July 2014
Member
Yumsetti
Posts: 6
Registered: ‎01-22-2013

Re: Got my preapproval!

Ha ha - yeah, I feel like I already turned gray during the offer negotiation process.  I've bought more wine recently...

 

Oh, well!  Here goes!


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