My embarrassing story

[Anonymous]

I checked my trimerged scores 619 619 653, I have vsecret card 500 balance, Kay jeweler zero balance, Macy zero balance, kohls zero balance, care credit zero balance , I'm a auth user on a usaa card zero balance. I have student loans currently in in school defferment as I finish my last semester almost 48000. I have lots of 30 day Lates on care credit. Some Lates on closed cards from two to three years ago. I make about 50000 a year , have a leased car payment is 300. That's it ..not sure what else to do. I applied for capital one card but had to do a review because some idiot out a fraud alert on my credit because I called in to dispute an account that didn't belong to me. So Capitol one wants me to fax or mailidentity proof first. Wonder if I'll ever be approve for a loan ..would like to build my first house for around 145,000...is this possible? Want to do FHA ..i have 5000 to put down

[Anonymous]

Are these your mortgage scores?  Make sure you are using the correct score version first. The lender will use your middle mortgage score which in your case is 619. If you find an FHA lender with little or no overlays, your scores shouldn't be a problem.  I've noticed 640 being a sweet spot score wise, but again, that is due to lender overlays. I would contact a loan officer and explain your credit score and debts and they should be able to tell you if they will have issues approving you without running your credit. 

Hope this helps 😊

[Anonymous]

Besides what the previous poster said there is the new law that requires 1% of student loan balance to be used as the monthly payment if loans are deferred or in a income based repayment.

[Anonymous]

I checked my repayment with my whole total due from two lenders ..payment will be 136 a month ..this a income driven payment

[dragontears]

Unfortunately income based repayment can't be used for most mortgages (I think Freddy will still use it but your scores are rather low to be going conventional).

[stellar]

Nothing to be embarrassed about.  We have all made mistakes.  Just use them as an opportunity to learn and grow. 

I would start calling/writing letters to goodwill the lates.  That would get you some points quickly.

Also get rid of the fraud alert.

[StartingOver10]

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@Anonymous wrote:
I checked my repayment with my whole total due from two lenders ..payment will be 136 a month ..this a income driven payment

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Read the stickies at the top of the mortgage section so you understand the changes when it comes to student loan debt. You can no longer use the income-based repayment plan to qualify for your mortgage unless it totally amortizes the loan (and they don't typically).