Late rent payments on rent to own home

[Anonymous]

I'm in a rent to own agreement and I'd like to purchase the house with my fiance. I got really sick for most of the fall and winter and got behind on my rent payments to the home I'd like to purchase. I have until July of this year to purchase and I'm wondering if I still have a chance to purchase the home I'm in despite the late payments. I also wonder when it's considered late because we have a 10 day grace period after the 1st before we are charged a late fee if 5%. All of our other bills are paid on time, my fiance Fico score is 622 for Equifax, but his vantage score says 700.

[GirlMelanie89]

Is his FICO score his mortgage score? Also, Vantage is sometimes considered a FACO. His mortgage scores are important and only the middle score is most important. As far as the late payments go, were they 30+ days late or something?

[Anonymous]

His FICO score is his is his mortgage score (FICO Score 5). I am working on getting the other two FICO scores from Transunion and Experian by the end of the month and mine as well. We were on 2 occasions 30+ days late due to my sickness and not being able to work for a long period of time.

[StartingOver10]

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@Anonymous wrote:

His FICO score is his is his mortgage score (FICO Score 5). I am working on getting the other two FICO scores from Transunion and Experian by the end of the month and mine as well. We were on 2 occasions 30+ days late due to my sickness and not being able to work for a long period of time.

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I'm not quite clear about what you mean for this sentence in red^^^.  You can get your mortgage scores here - all 3 of them for each of you by pulling a 3 bureau report here http://www.myfico.com/Products/FICO-Score-3B-Report/   

You can't get the FICO mortgage scores directly from Transunion and Experian - they have their own scoring formula that the lenders don't use.  Those scores are usually educational scores unless they are marked FICO and even then they may be the FICO 8 version rather than the FICO mortgage scores. Read about FICO mortgage scores at the top of the mortgage forum here in the stickies. 

[Anonymous]

I am aware of the FICO scores being available on the FICO website. Here's what happened: We couldnt afford to get all three of the scores all at one time so we only paid for the the 1B report on the FICO website only for Equifax and when I get my next paycheck, we'll be able to pay for the other two scores. (We have two toddler boys, one of whom is still in diapers and we had to make a decision of whether to get FICO scores or diapers)

[GirlMelanie89]

Hi ssi, I definitely understand!! But just a tidbit, when you buy the other 2, search on google for discount codes. I do every time for each score and they usually end up being $15.95 for each score. Also, if you purchase them through the Ebates website, you'll get $5 cash back and if you're a newbie, you can select a $10 gift card which would definitely come in handy for diapers.   

[Anonymous]

That's a good point! I used a coupon code to get the Equifax score for my fiance, but I didn't know about the Ebates cash back! I will definitely look into that for getting the other two scores and to get my scores as well!

[Anonymous]

And i can totally use the $10 gift card for diapers! I'm working potty training this kid, but we just got started. Thanks for the advice! :-)

[GirlMelanie89]

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@Anonymous wrote:

And i can totally use the $10 gift card for diapers! I'm working potty training this kid, but we just got started. Thanks for the advice! :-)

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No problem!! I'm always looking for ways to save! And if you refer your boyfriend, you get a $25 refer all credit and another $10 diaper gift card. Lol. Good luck on the potty training!!! Definitely and adventure!!

[Anonymous]

UPDATE: (I am the fiance btw) I was able to get myFICO score from Transunion and it states that mycredit score is at 622 and the Mortgage FICO score 4 is at 645! Hopefully, even with the late rent payments with explanation, we can get a mortgage to purchase our rental