Please let me know if I stand a chance-UPDATED- SCORE INCREASE

[newhouse2013]

6/17- got a SW alert late last night that I my EQ increase a few points and brought me to 643! One step closer to my dream. 

Hey Fico Family...I may be a little premature with my question but I am a planner (and also impatient) and need to figure out my next course of action, therefore I want to get your opinions, any brokers out there please weigh in. 

Here is my case...I have been preparing to buy a house the end of August/beginning of September for about a year thinking that I would be well into my comfort zone (score wise) but being as though I didn't find this site until November I didn't have all the proper tools to rebuild the most efficient way so the road has been slow and steady. Anywoo, I am beyond nerve wrecked the closer I get to my deadline and I want to know should I push my timelines back another 6 months (realllllyyyyyyyy don't want to do that) or does anyone think I have a shot of being approved come September. Current scores are below as well as snapshots of the other important factors.

Employment- W2 employee- Will be 2 years in October- 13+ years in the same industry - no gaps

Renting-  3 years same place- 12+ months of payment receipts (never more than 30 days late)

Salary- 58K

Utilization- always around 2%

Youngest account opened n December 2012

1 inquiry on each report

FHA- 3.5% down

Transunion

6 accounts with negative flags (all paid and closed, I think 2 lates and 1 account due to age off this year) - 4 open current accounts, no late payments within a year

Experian

11 accounts with negative flags (all paid and closed, I think 2 lates and 1 account due to age off this year) - 4 open current accounts, no late payments within a year

Equifax

8 accounts with negative flags (all paid, I think 2 lates and 1 account due to age off this year) - 4 open current accounts, no late payments within a year

Do I have a shot???? 

Thank you, All help is appreciated! 

[Sunshine85]

Your credit score will be an issue. 

Most lenders need a 640 qualifying midscore. Right now, your midscore is 635. Keep in mind the TU score from My FICO and your lender will probably be different, as this site uses an older version of TU. I believe Experian scores are available now- I would purchase the Exp score so that you know exactly where you stand. If you can get both your Equifax and Experian scores above 640, you'll have an easier time finding a loan. 

[Mondavi]

It appears that the EX score offered here is a newer version that most lenders do not use. So your EQ score will give you an accurate Fico that lenders will use.

[StartingOver10]

Since your utilization is very low at 2% and your score is about 635, do you know what is holding the score back now? Are you calculating your DTI on open accounts only? Do you have any balances that are from CO accounts showing? Just trying to figure what is holding your score back because everything else looks good from your post.

Did you just pay those negative accounts or has it been a while (over a year)?

Have you tried to GW the accounts that aren't dropping off this year?

[newhouse2013]

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@StartingOver10 wrote:

Since your utilization is very low at 2% and your score is about 635, do you know what is holding the score back now? Are you calculating your DTI on open accounts only? Do you have any balances that are from CO accounts showing? Just trying to figure what is holding your score back because everything else looks good from your post.

Did you just pay those negative accounts or has it been a while (over a year)?

Have you tried to GW the accounts that aren't dropping off this year?

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I have been wondering the same thing! But all the negative accounts have a DOFD over a year but yes all were paid within the last 12 months. I have tried to GW everything remaining and have been shot down each time. I just wanted to leave well enough alone until I get a house. The only balances are from my open accounts the others are at zero. The 2 CCs I have are only about 7 months old, so maybe they haven't had time to season yet and they aren't high balances at all. At this point I am just hoping that those lates that are supposed to age off, do in August and I can get a few points from that.