Home Mortgage with CS 669 and 654

[sheltymama]

Hi, I'm new to the board. My husband and I are wanting to buy a home at the end of the year or beginning of 2012. We have CS of 669 and 654, although Experian Vantage Score shows one as 705. We've had clean credit for 2009 and one 30 day in 2010. Past credit problems, but all paid and 0 balances. We will pay off our truck in 5 months and will be paying off our credit card balances totaling $1800.00 next month.  And then start saving for down/closing.

What is the likelihood that we can get a FHA mortgage with 3.5%down? Can we get approved?

[ShanetheMortgageMan]

Your credit sounds good enough.  There is other information to consider though.

[Edited to correct the link that I think Shane was trying to reference.]

[rckstrscott]

Just make sure you have your real FICO for EQ and TU.. I was using truecredit.com for a while, and my EQ score on there was 40 pts higher than it was in reality..

-scott

[sheltymama]

Thanks for the heads up. I ran other scores today and you're right, Truecredit gave me high scores, one as high as 714 - WRONG. Ran scores on my fico and it's more realistically 669 and 647. So we have some work to do. Gonna cancel subscription to TrueCredit.