Reply
New Contributor
Posts: 68
Registered: ‎12-08-2012
0

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)
Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.