10-12-2013 04:11 PM
So for those of you who are not aware our loan USDA loan is on hold due to the government shut down.
My landlords are pressuring us because they want to sell the house we are renting and they were going by the initial date we gave them, that we would be moving....now everything is on hold and we do not know if we will be able to get the house!!!
So, the only ray of hope is going through Capital bank they are offering a great loan with no money down...but they require a 660. I had a 663, but with all the pulls recently for the home...I am down to 655 or maybe less not sure but I need at least 10 points...like yesterday.
PLEASE anyone out there know the quickest way to do this.
10-12-2013 05:24 PM
What is the utilization of your credit cards? If it is high, and you pay them down, it might give you the points you need. I don't know how to get it quickly updated on your reports though. It may take a month. There is a way to update faster I think but I don't know how it works.
10-12-2013 05:55 PM
10-15-2013 10:05 AM
The credit card utilization is at 7%....its is the dang old medical bills and the loan inquires that are keeping the score down. I can not do anything about the med bills, but I can remove inquiries I suppose....how old do they have to be before they can come off?
10-15-2013 03:03 PM
I agree with one of the posters. I was a few points below a set score to get the best interest rate. My broker contacted the bank and they did a rapid re score. It raised my score by 12 points. It only takes a day or two.
Regarding the inquiries. Check your credit reports carefully. Sometimes you get dinged for each inquiry. About five years ago the fed ruled that one's score cannot be lowered by each inquiry, as long as each inquiry is for the same type of credit (in your case, a mortgage) and the inquiries have to be made within a 30 day period. Each inquiry usually lowers your FICO score by 2 points.
Forums posts are not provided or commissioned by FICO. Forums posts have not been reviewed, approved or otherwise endorsed by FICO. It is not FICO's responsibility to ensure all posts and/or questions are answered.† Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
* For complete information, see the terms and conditions on the credit card issuer’s website. Once you click apply for this card, you will be directed to the issuer’s website where you may review the terms and conditions of the card before applying. While myFICO always strives to present the most accurate information, we show a summary to help you choose a product, not the full legal terms - and before applying you should understand the full terms of products as stated by the issuer itself.
IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. 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.