Help determining if I'm ready to submit application for VA Mortgage

[Anonymous]

about two years back my credit scores hovered around 578, however, I've been cleaning them up for the past two years and my MyFico scores are 706 EQ, 714 TU, 721 EXP (which I don't have much faith in after reading several posts).  My equifax score directly from Equifax site is 702, and my Equifax fico bounces between 670 and 690 depending on when it's pulled.  I have cleaned up all negative accounts except for two. My accounts are listed below:

CC Capital One three years old(went from 300 limit to 4900 limit within one year...totally suprised there...and my utilization is at 10%)

One Main Financial Loan opened 15 months ago....6k with no late payments

Car loan which is 4 years old...original balance 13K, down to 4500 with about 6 30-day marks and one 60-day mark...all more than two years ago

One student loan which has been current for the past two years...but a few years ago came out of deferrment and I didn't know it and it reported 120 days late approximately 9 times.

Several other student loans that are in deferment which have no derogatory marks

a closed secured credit line from a credit union open for a year 3 years ago with no negative marks

A closed secured credit card early last year which was open for 2 years with no negative marks

several finance loans which were refinanced several times...but since been closed with no negative marks

I have no collections, no charge-offs, and no liens.

Based on what I'm reading in these posts....I'm afraid my lending score will be a lot less due to the old derog's on my student loan.  Any advice here would be greatly appreciated.  Also, if anyone has been through the VA mortgage process..any information would be greatly appreciated.

I've come a long way....but I'm still feeling like what's reporting 120 late will weigh more heavily and suprise me when it's time to go to pull my credit.

Thanks

Quan

[frugalQ]

Depending on what type of loan you are trying to get, as long as your scores are 660+, you should be good.

One thing you should consider though....not all programs allow your student loans to be in deferrment during the mortgage process. I recommend you discuss this specific issue with a lender.  You may have to bring them out of deferrment while you are going through the process and then put them back in once you've secured your mortgage.

if your last late was more than 2 years ago, i don't think they will stop you except for keeping your scores lower.

Good Luck!

[Anonymous]

Thank you for your response.  I spoke with a lender without pulling my actual lending score yet as I think I'm about 90 days away.  I will ask about the deferred loans as I have quite a few of them.  Also, I was trying to dispute the student loans, should I also bring those out of dispute prior to pulling my lending scores?

[Anonymous]

"Also, I was trying to dispute the student loans, should I also bring those out of dispute prior to pulling my lending scores?"

So what ya thinkin is wrong with them?

[Anonymous]

If you're referring to the student loans, I thought they were n deferment when they weren't and they ended up creating a bunch of 120 day late marks.