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Regular Contributor
cocomadd
Posts: 217
Registered: ‎05-17-2013
0

Please HELP ME gain 10 points; need to apply ASAP

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.

 

 

Thank you!!!!!!!!!!!!!!!

 

 

Exp/647-Fako
EQ/629-Fico
Trans/656-Fako
NEW SCORES
EX/665
EQ/642
Trans/656 Fako

This is new to me but I will take the 750+ challenge! Goal by May 2014
Frequent Contributor
Peter1142
Posts: 362
Registered: ‎08-17-2013
0

Re: Please HELP ME gain 10 points; need to apply ASAP

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.

Regular Contributor
J_G
Posts: 185
Registered: ‎07-12-2013
0

Re: Please HELP ME gain 10 points; need to apply ASAP

Have the lender do a rapid re score. Only the banks can do them you still might be able to get the loan?
7/1/13 - EQ = 593 TU = 578 EXP = 573 FICO
8/11/13 - EQ = 600 TU = 590 EXP = 603 FICO
10/1/13 - EQ = 611 TU = 689 EXP = 605 FICO
12/4/13 - EQ = 625 TU = 648 EXP = 604
Lender Pull 2/18/14 - EQ = 630 TU = 678 EXP = 594
Lender Pull 2/28/14 (EQ 640) (TU 660) (EX 655) Rapid re-score =)
9/30/14 - EQ = 660 TU = 710 EXP = 669
Member
IamMrsJones
Posts: 22
Registered: ‎09-17-2013
0

Re: Please HELP ME gain 10 points; need to apply ASAP

Convert to FHA?

Regular Contributor
cocomadd
Posts: 217
Registered: ‎05-17-2013
0

Re: Please HELP ME gain 10 points; need to apply ASAP

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?

Exp/647-Fako
EQ/629-Fico
Trans/656-Fako
NEW SCORES
EX/665
EQ/642
Trans/656 Fako

This is new to me but I will take the 750+ challenge! Goal by May 2014
Regular Contributor
themizlyne
Posts: 187
Registered: ‎07-06-2013
0

Re: Please HELP ME gain 10 points; need to apply ASAP

The inquiries will not effect your score after one year, they drop off after two.
Valued Contributor
tooleman694
Posts: 2,297
Registered: ‎08-25-2011
0

Re: Please HELP ME gain 10 points; need to apply ASAP

I would just go FHA.

New Member
str8tony
Posts: 4
Registered: ‎06-21-2007
0

Re: Please HELP ME gain 10 points; need to apply ASAP

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.

 

Good luck!

 


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