Here is my credit history,so do anyone have any advice on my home loan application.

[YHWHUDAH]

Eq 570 myfico

Tr 629 myfico

Ex ?

Lender pulled 620

Ok, so I applied for a VA home loan and the LO stated my score was a 620. Do you know if this was the high score  or the medium score?. He stated that we need to get my score to a 640, and if I paid down my balances to 30 percent utilization my score should jump 40 points. Is that possible or highly unlikely?   I have a 2500 capital one maxed 2600; I have two orchard banks 1500 and 1300 both over 90 % utilization.  I paid down the 1300 balance to 0, the 1500 to 400, and the capital one to 36. I thought the new balance would be reflected on the lender's report, but the older balances were. When should I expect this to update? He want to recheck next month on 1st and for me to fill out a lot of paperwork and to send in statements etc...

 I have 3 collection, one recently posted Aug 20011, for an apartment that I just moved from with a balance of $198. I didn't know about this, so I requested a PFD.  The CA said they would do it. They sent me an email stating that the account should be deleted from Ex and Eq. That was 2 weeks ago and it still appears on my report, so I called yesterday and they said they told the Bureaus this. Could they be lieing or should this info be fix soon?

I have a medical collection for 0 dollars that is scheduled to fall off Jan 2012 per transunion. Do this affect my score at all been that it is so old?

I have a medical collection for 301 from 2009 that recently posted in Aug. The LO said he was not worried about any medical collection. I called the OC and the funny thing is the representative said the hospital took 98 dollars from my 2009 state taxes refund and applied it to some of the balance, but the CA still lists the balance as of Jan 2011 for 301. Therefore, I assumed they don't communicate, so I asked to pay the balance in full with the OC and they accepted the payment. Ha Ha, so I did the Hippa Letter to them. I don't know if it would work, should it? I plan to dispute it after, I get my approval. Should I dispute it before or after I apply next month?

Those three collection are on my Ex and Tr. The 0 balance medical and 301 collection is on my Tr. I assumed that is why the score is so low on the Eq. Is that right, so if the PFD go through my score should see between 40 to 60 point jump. Is that an accurate estimation, been that everything else is identical on all my triple 3?

I have a 120 day late charge off from GEMB/Belk on at all three agencies for, wait drumroll.......16 dollars posted Nov 2010. This is not mine, so it is currently been disputed. I notified the CA 12 months ago and the placed the info in my account, but never sent for it to be deleted. I called and talked to the credit department at GEMB and they apologized for this stating, " The representative you spoke with noted the account, but didn't do anything else. She the apologize and said for me to contact the credit bureaus to have it removed. I am clueless, should I wait for the dispute to finish, or contact the CA and request for them to send the info in so it would update faster?

The home loan, I am applying for is 160000 in Raleigh NC. My take home salary is 4200 a month. Should I look for a new lender because of my 620 score and apply for as many loans possible within the 30 day inquiry period? I thought the minimum score was a 620? Or should I wait until my reports update the dispute, balances and PFD? Do you have any idea if it would post before the 30 day inquiry period expire.

Regards,

YHWHudah

[Anonymous]

The lender you have applied with has a 640 credit score requirement. Other lenders still go to 620.

Good luck and Thanks for Serving.

[YHWHUDAH]

Thanks VAloanguy,

So, I just checked myfico scores, EQ up from 570 to 603 in 1 day; they have removed the CO off my record for 189 dollars. . However, TU has not updated yet, so I called and they said "as of the 31 Sept the record has been deleted, but they want update the file until they finish my dispute with GEMB.BelK" . It's cool.  I still would like some advice on my original post. Thanks in advance. Now if the OC from the hospital would respond to my HIPPA request everything will be perfect.

[Anonymous]

My suggestion is to go with a different lender (that allows a 620) rather than wait  to see what your scores will do in 30 days. Rates are historically low, and no one knows how long that will last. And there is no guarantee that the scores will get to 640 or higher.

[YHWHUDAH]

Thanks, VAloanguy,

You are correct in your advice. I will check with other lenders and keep you'll posted. The future no one knows.