Back story Single man no kids College Grad
This time last year I wanted to buy a car, because I felt like I deserved to drive a nice car and I worked so hard yada yada. My scores was in the 560's and even with them being low I could still get a car loan but it was at a horrible interest rate and huge downpayment (Which I had the downpayment). So I decided to not go through with it. I studied credit and how it works and what was affecting it cleaned up the negatives got a few cards added a 21 year AU account from my grandparents and my score rose!
Fico 4 Scores are 747 769 787.
I noticed the housing regulations were changing soon and it would be harder for anyone with a student loan to get a mortgage loan. So I decided the best time to buy a house would be now while the rates were low. I got preapproved for a 3 percent down 30 yr Conventional Loan through my Credit Union. I also qualied for downpayment assistance from my county up to 10 percent of the house purchase as long as I go through homebuyer classes. I went through and finished the homebuyer classes found the house I loved and put in a offer seller accepted and is paying 3 percent of the closing cost and was able to appy for the mortgage loan and locked in my interest rate at 4.00 even no points.
My Loan Officer told me I got in right before the regulations changed and I shouldnt worry and that everything will be fine as long as I dont open or apply for credit or make a huge purchase (I wouldnt).
I chose the closing day Novemeber 18th just in case they needed more time to process (I heard loans will take a lil bit longer to process) because of the new rules.Im having my apprasal done this week as well as the inspection.
Just wanted to thank myfico! I wouldnt be at this point in my life if it wasnt for this forum. Hopefully everything goes right!
