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Valued Contributor
Posts: 3,406
Registered: ‎12-19-2012
0

Re: Plan of attack for financing

How many credit cards do you have that you are paying as agreed? Any auto and/or student loans?

My builder's lender (UAMC) required a 660.
Cards: Orchard Bank ($1100) | Cap1 Cash Rewards ($2500) | Chase Freedom ($1000) | Best Buy ($2500) | Discover It ($1000) | Barclay Rewards ($2500) | Current scores: EX FAKO: 684, CK TU: 649, FICO EQ: 680, FICO TU: 698, FICO EX: 658 Happy Homeowner Since 2/6/13! Smiley Happy Last App: 4/5/13 Gardening until July 2014
Established Contributor
Posts: 1,011
Registered: ‎04-08-2012
0

Re: Plan of attack for financing

They are all listed in my signature (cc). Student loans are paid as agreed too. No auto loan.

640 is what my builder lender requires :-)
-Rebuilding with CapOne Cash: $1.5k, NFCU cashRewards $8.5K, NavCheck $5K, Wal-Mart: $1.1K, Sam's: $1.2K, Amazon: $1.9K, Apple Barclay: $3K, Haverty's: $1.5K, GE capital: $5K, Sears: $250(AU), PP MC:$1.5K, CareCredit:$3K (closed 1st home 05/08/13)
Starting Score: 492-TU04, 480-EX FICO V2, 467-EQ Beacon 5 (Via Mortgage PreQual March '12)
Current Score: EX,EQ,TU (lender pull): 652, 659, 689, Walmart TU FICO: 691 (05/13)
Goal Score: 700

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Valued Contributor
Posts: 3,406
Registered: ‎12-19-2012
0

Re: Plan of attack for financing

I can't see your siggy cause I'm on my phone right now. I'll check back when on my laptop. :-)
Cards: Orchard Bank ($1100) | Cap1 Cash Rewards ($2500) | Chase Freedom ($1000) | Best Buy ($2500) | Discover It ($1000) | Barclay Rewards ($2500) | Current scores: EX FAKO: 684, CK TU: 649, FICO EQ: 680, FICO TU: 698, FICO EX: 658 Happy Homeowner Since 2/6/13! Smiley Happy Last App: 4/5/13 Gardening until July 2014
Established Contributor
Posts: 1,011
Registered: ‎04-08-2012
0

Re: Plan of attack for financing

Oh lol,

 

 Cap1 Secured, CapOne Cash, NFCU Secured, NFCU cashRewards, NavCheck LOC, Wal-Mart, Sam', Amazon, Apple Barclay

-Rebuilding with CapOne Cash: $1.5k, NFCU cashRewards $8.5K, NavCheck $5K, Wal-Mart: $1.1K, Sam's: $1.2K, Amazon: $1.9K, Apple Barclay: $3K, Haverty's: $1.5K, GE capital: $5K, Sears: $250(AU), PP MC:$1.5K, CareCredit:$3K (closed 1st home 05/08/13)
Starting Score: 492-TU04, 480-EX FICO V2, 467-EQ Beacon 5 (Via Mortgage PreQual March '12)
Current Score: EX,EQ,TU (lender pull): 652, 659, 689, Walmart TU FICO: 691 (05/13)
Goal Score: 700

Take the FICO Fitness Challenge

Valued Contributor
Posts: 2,300
Registered: ‎08-25-2011
0

Re: Plan of attack for financing

If you had no other baddies, I think it would be a go. But since you have something from 2007 still holding you down, id say its a big maybe.

 

Any idea why your TU is sooo high but the other 2 are so low.

Established Contributor
Posts: 1,011
Registered: ‎04-08-2012
0

Re: Plan of attack for financing

I thought that was weird too that my TU is so high. EQ is the only one with a collection left so I get why it is lower. EQ has the most inquiries from a year ago, apt apps and utilities app all pulled EQ or EX so maybe it's inquiries. By March those fall off score.

-Rebuilding with CapOne Cash: $1.5k, NFCU cashRewards $8.5K, NavCheck $5K, Wal-Mart: $1.1K, Sam's: $1.2K, Amazon: $1.9K, Apple Barclay: $3K, Haverty's: $1.5K, GE capital: $5K, Sears: $250(AU), PP MC:$1.5K, CareCredit:$3K (closed 1st home 05/08/13)
Starting Score: 492-TU04, 480-EX FICO V2, 467-EQ Beacon 5 (Via Mortgage PreQual March '12)
Current Score: EX,EQ,TU (lender pull): 652, 659, 689, Walmart TU FICO: 691 (05/13)
Goal Score: 700

Take the FICO Fitness Challenge

Valued Contributor
Posts: 2,300
Registered: ‎08-25-2011
0

Re: Plan of attack for financing

Highly unlikely its the INQs, I have a crap ton and my scores are pretty good. Maybe it is the last collection.

 

Will be cool to see what your EQ score does when it comes off.

Established Member
Posts: 23
Registered: ‎07-09-2008
0

Re: Plan of attack for financing

I can Tell you that my last CO when it got remove

 

my EQ Score when Up By 48 poins  

Valued Contributor
Posts: 2,300
Registered: ‎08-25-2011
0

Re: Plan of attack for financing

But did you have any other baddies on your report.

Valued Contributor
Posts: 3,302
Registered: ‎06-09-2010
0

Re: Plan of attack for financing

Bring down UTIL first.

Debt will play a big part in approval once your scores reach their minimum requirement.
Good Luck
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