@Anonymous wrote:
I came here 14 months ago because I had no credit and no credit score, self employed, and wanted to buy a house.
Two days ago we got our approval, made an offer on a house yesterday that was accepted, and then submitted requested documents to loan officer today.
I was told we'd be in underwriting Monday or Tuesday!
Our closing date in July 21st, went FHA (3.375%) with a 2.5% second, so we are putting only 1% down. We also negotiated seller paying closing costs by posting above asking.
I couldn't be more excited and more scared at the same time! Love the house we found, and the only thing that has me scared is we're self employed. We've had good income, and this year had shown continued growth, so I'm figuring we are good. But I can't help but to be scared!
If you don't mind sharing, what was your middle FICO mortgage score? Am I also understanding that you got a type of "piggy-back" loan with a first and second mortgage"? I'm asking because I'm not as familiar with those. I'm doing an FHA loan as well through the captive (preferred) lender of my builder. They are giving me $5,000 towards closing. Although I haven't locked in a rate yet, they have tentatively quoted me at 4.375% with a middle FICO mortgage score of 713. My middle score has since increased to 738. I just want to make sure I get the best rate possible.
Current - FICO 3/2019: EX(753); EQ(763); TU(749)
Beginning - FICO 7/2014: EX(630); EQ(608); TU(581)
Credit: Wells Fargo Home Projects Charge Card ($7,800); Wells Fargo Home Rebate Visa ($4,000); Capital One Quicksilver ($10,000); Capital One Venture ($6,000); Discover it ($7,900); Macy's ($20,000); BrandsMart ($4,000); Banana Republic ($1,200); Lowes ($12,000); Amex Everyday ($30,000); Macy's Amex ($15,000); Amex Platinum (NPSL); Citi Diamond Preferred ($9,000); Chase Freedom ($9,000); Wells Fargo Outdoor Solutions ($10,000); SunTrust HELOC ($25,000)
