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Hi guys! I'm in Raleigh and I wanted to know if any of you guys had any experience working with Nc Finance Agency's approved lender Movement Mortgage?
I'm trying to get a Fha loan with downpayment assistance thru Movement Mortgage and I just would like to hear you guys experiences. MM ran my credit back in May 2016
and told me that my middle score was 596 and that I needed a 660 to even be considered for the down payment assistance program.
Since then, I've paid my credit cards down to about 46%, ( I know that's still a little high) I've gotten the only collection on my reports removed and obtained two new credit cards that I have not and will not use just to help with my utilization. Also, when he ran my credit in May, credit karma had the exact same numbers So I've been kind of using Credit Karma as guide. My scores now with credit karma are 667 and 684. Do you guys think I should have MM pull my again credit right now or wait unitl I pay down my credit some more? Two of my credit cards report to the bureaus on the 11th of every month.
I'm just so ready to move forward in this process but it seems like the MM are too busy to work with me. Maybe they just chopped it up as a loss when they ran my credit in May and saw that my middle score was only 596 : (
okay I will thanks
Can you post an update when you have one? I am also trying to go for the NC Housing Finance Agency program through Movement Mortgage. I would love to hear about you experience.
Hi mvnup 2017, well after a couple of months of working on my credit score, when mm pulled a couple of days ago it was 655, 655 and 683. I was told that they have a 660 credit score requirement which I am now learning is called an "overlay". Which simply means in addition to the fha credit guidelines, mm has their own burning hoops, (lol) I mean criteria that I have to meet. So finally the loan officer referred me to BB&T saying that they didnt have an "overlay" . They just go by the FHA guidelines. Its just a little upsetting because mm could of referred me out 2 months ago. Now I'm literrally starting all over. : (
I do know that the Housing Finance Agency has a list of preferred lenders on their site for the down payment programs. I will have to check them out as well. Don't need additional overlays in addition to the ones that are already there :-/ . Good luck with BB&T and let me know how it turns out. I will also be calling around to preferred lenders and will post an update when I get one. I am now in rapid rescore with Movement and depending on what they say will be ready to get pre-approved soon.