10-12-2012 04:43 PM
10-12-2012 06:27 PM
Please don't give up. If I got a home after pulling my Fico up after the journey from student loan default hell, I know that it is possible for you as well. My Experian was at 573 approximately one year ago, but I closed on my home on May 4th, 2012. What is your Fico Score? You will need 3 positive tradelines as well as no lates for at least one year.
Repeat after me, "I deserve every happiness that includes my beautiful home".
10-12-2012 06:40 PM
10-12-2012 07:03 PM
My Mortgage Broker required that my Middle Score had to be 640. I had to use one non-traditional trade line (electric bill), because some of my trade lines that I had only reported for 11months. The Utilities gave me a hard time because for the most part even though I never was 30 days late they didn't want to write documentation to that affect (great MB worked it out). Get copies of your credit report before your Ficos are pulled and let the Broker look over file to see if there is anything on there that will need to be worked out. I think that helped me a lot during my UW process.
IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions based on Experian or Equifax data (additional FICO® Score versions based on TransUnion data are not currently available on myFICO.com). 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.