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Got prequalified!!!!

New Contributor

Got prequalified!!!!

Talk to BofA LO about getting a mortgage. We requested somewhere in the range of $150,000. He said it might not be possible with the current mortgage (going to live there until we close and then rent it out), but he ran it and he said we'll have a good faith letter of $150,000 with 5.125% in the mail shortly. We will be using the VA Home Loan Program. This comes from a 545 FICO score in July to a 670 as of yesterday. Thank you all for your help!
Message 1 of 3
2 REPLIES
Frequent Contributor

Re: Got prequalified!!!!

Good luck!!
TU: 556 12/12/08 ~ EQ: 509 12/12/08 ~ EX: 509 12/12/08
TU: 588 8/7/09 ~ EQ: 529 7/30/09 ~ EX - ?? (509 12/12/08)
TU: 619 9/01/09 ~ EQ: 608 9/01/09 ~ EX - ?? (640 FAKO 9/01/09)
TU: 626 9/30/09 ~ EQ: 624 9/30/09 ~ EX - ?? (640 FAKO 9/01/09)
TU: 659 10/7/09 LO PULL EQ: 624 10/7/09 LO PULL EX: 659 10/7/09 LO PULL
Message 2 of 3
Contributor

Re: Got prequalified!!!!

If you do not mind me asking what will be your DTI with the new mortgage? Im only asking because Im in the same boat(except Im trying to sell in Ft Campbell) and with the new mortgage it willl be around 55%. That is just using my income and not my wife's. The LO said my packet is very strong but I also have concerns because anything can happen.

Starting Score: 690
Current Score: 747
Goal Score: 750


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