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Wonderyears
Posts: 68
Registered: ‎12-08-2012
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Mortgage possible with <1yr of active TLs?

How old do active tradelines need to be in order to finance a home? I was told by a lender 1 yr.   Is this correct? I have one opened in Oct, 2 more this month. All CCs. I have no other debt and pay these off monthly after a 10% utilization.

My lease is up in May, two yrs with no lates.

Scores are 715 TU with a judgement I will have satisfied this month.
Judgement not reported on EQ, 761 score.

These are reported on myFico.com

Ex fako of 743.

I have no installment loans. Cars are paid in cash.

 

I do have positive past tradelines. My CR shows my oldest account at 13yrs, average age 9yrs. Does this help at all, if  they are closed? On my CR they say current status as "pays as agrees."  Some I remember closing when I was younger, others I do not. Descriptions include "closed or paid account/zero balance" or "account closed by consumer." Some just say CC in the description. 4 are paid student loans.

10 accounts, 1 with a balance (my two new this month of course are not reflected yet).


One shows two 30 day lates 2 1/2 years ago(this is the only flag on my report), which is weird because I haven't utilized a CC since at least 2005. The balance shows 0 now, and I don't want to mess with anything as my scores aren't terrible.

Can I be financed?

Thanks!           

myFico TU-715 EQ-778 (01.14.2013) WalmartTU-664 (12.12.12))

LENDER PULL EQ-766 EX-779 TU-713 (12.20.2012)

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