Mortgage Loans

[Yumsetti]

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'!

[sonicxtacy02]

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

[slappymancuso]

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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

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Aint that the truth? 

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

[JM-AM]

Congrats have fun in your new home

[TnTNYC]

Congtratulations, and best of luck.

[Epcot]

Good news, Congrats!

[BCullum]

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

[MovingForward_2012]

Congrats and I fully agree with everyone's comments! :-)

[Yumsetti]

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!