Are there any good lenders that do loan in SC? I need someone that uses simulators. I have some money to pay some items but I don't want to make things worse but I have had 1 to tell me to sign up with a credit repair company and the other to tell me to pay off everything, get my score up, and then contact her back, and the other told me to remove the dispute comments and once I done that my score dropped and now he wont even respond.
Not a lender.. and cannot answer all your questions.
But if an FHA loan is your only option (as it was my only option)... then you do have to get rid of all your dispute comments on your credit reports regardless of what it does to your score. Usually it does not affect your score unless they are open active disputes. I had 3 on my account that were all closed disputes, and it did drop it 3 points for some reason, but nothing substantial (and its possible something else dropped it 3 points that I'm not aware of and was coincidentally at the same time as comments were removed).
I personally dont recommend a credit repair company. If you need credit repair, you can do it yourself. There are lots of threads to help you do just that. And if your scores need significant work, I would do that first before contacting a lender. I spent a year getting my credit score to a more acceptable level before embarking in the mortgage process. in my opinion, the process is nerve-wracking enough (sorry lenders...LOL) without trying to do credit repair at the same time. But, just my opinion, I am certainly no expert in matters of credit and mortgages...
Otherwise, good luck on your quest to buy a house. I am sure some of the expert lenders around here will reply to you shortly!
Disputes have to be removed from the credit report. If the item is in dispute and our Automated Underwriting System (AUS) says the dispute has to be removed, then the dispute has to be removed.
My issue isn't removing the dispute comments. It is the fact that he will not respond anymore. I know everyone have different overlays so it would be great to follow up with the same lender that I would be using.
Bottom line: you have work to do. Look over your report at all negatively reporting items. I'd begin with collections that are not medical and pay off or settle in full for a lower amount. You need to know how much you have in medical collections. There is good info here for how much is allowed on an FHA loan, but if you scores are still too low you may need to pay at least some off anyway. If you post more details there may be some here to offer advice. I was where you are 2 years ago and have qualified for a zero down mortgage (actually with 2 lenders - different products) just this month. Of course, I paid everything off either in full or settled in full and kept everything paid up on time in the meantime. It takes time to clean up a mess.
Thanks. I recieved great feedback from people and lender on this forums. All I wanted was a path forward and I got that. Based on Credit Xpert, I will have the scores once I get a paid status on 4 of my accounts. 2 I just paid and they agreed to delete. 1 I am paying today so the status will be paid in full. The other 1 TU agreed to a early exclusion.I will have the scores so I will just wait for the greenlight.