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Regular Contributor
vabound
Posts: 147
Registered: ‎03-21-2012

Pre-approved!

I posted last week about applying for a va loan.....yesterday, my husband and I were Pre-approved for $225k at 3.57%. We start viewing homes Friday! When we first contacted our LO in march my scores were TU513/EXP 513/EQ 458 (lender pull). As of yesterday my scores are TU690/EXP598/EQ639 (lender pull). My TU and EQ we're both lower at this site. Well....our journey to home ownership begins!
Starting Scores:TU/513 EQ/484 EXP/513 3/2012 (lender pull)
Current Scores:TU/681 EQ/637 EXP/613 11/2012 (lender pull)
Goal:700 across the board
Regular Contributor
sbeasl11
Posts: 122
Registered: ‎07-23-2012

Re: Pre-approved!

Congrats! I am here researching for that very purpose. We hope to obtain a VA loan by next fall. They will use his score since he is the veteran...right? I would be very interested to know what you focused on in the rebuild/clean up process. Great job moving your scores so much.

Established Member
TTR79
Posts: 36
Registered: ‎09-13-2012

Re: Pre-approved!

Congrats.keep us posted.
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Regular Contributor
vabound
Posts: 147
Registered: ‎03-21-2012

Re: Pre-approved!

If both of you are going to be on the loan, your scores will be considered. I am not sure what happens if the loan is only in his name. Marriage=community prop which means you would be on the deed so.....ask a LO. I paid off some old debts including my car note, and disputed a lot of stuff. some was inaccurate and some wasn't but if the creditor takes longer than 30 days to respond the acct is removed by the credit bureau. I also got 2 credit cards and I got student loans (I'm in grad school) the loans, which are in deferment until 2016 actually helped my credit. I piggy backed off of my moms credit card but that only reports to experian. lastly, I was determined and prayerful!!!!
Starting Scores:TU/513 EQ/484 EXP/513 3/2012 (lender pull)
Current Scores:TU/681 EQ/637 EXP/613 11/2012 (lender pull)
Goal:700 across the board
New Contributor
lsjohns00
Posts: 66
Registered: ‎10-22-2007

Re: Pre-approved!

Hello,

 

I will be trying for a VA loan close to the end of the year. I was wondering if they only look at the midscore report or if they merge all the information positive and negative on all reports? Just trying to get a head start on what to expect.


Starting Score: 565
Current Score: EQ 653, TU 657, EX 656 Lender Pull (MyFico)
Goal Score: 720


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New Contributor
lsjohns00
Posts: 66
Registered: ‎10-22-2007

Re: Pre-approved!

One last thing, did you have any negative items remaining when you applied?


Starting Score: 565
Current Score: EQ 653, TU 657, EX 656 Lender Pull (MyFico)
Goal Score: 720


Take the FICO Fitness Challenge

Moderator
Shogun
Posts: 12,884
Registered: ‎04-15-2011

Re: Pre-approved!

Best of luck to you.  Happy house hunting!


Starting Score: 504

July 2013 score: EQ FICO 819, TU08 778, EX "806 lender pull 07/26/2013
Goal Score: All Scores 760+, Newest goal 800+

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Current scores after adding $81K in CLs and 2 new cars since July 2013
EQ:809 TU 777 EX 790 Now it's just garden time!
Regular Contributor
vabound
Posts: 147
Registered: ‎03-21-2012

Re: Pre-approved!

Our LO used our mid scores.  I have two collections both of which are being reported incorrectly on one report.  That was my lowest score so it didn't matter.  I will, however have those accts removed before underwriting.  Other than that all of my negative stuff is old and at a 0 balance.

Starting Scores:TU/513 EQ/484 EXP/513 3/2012 (lender pull)
Current Scores:TU/681 EQ/637 EXP/613 11/2012 (lender pull)
Goal:700 across the board
New Contributor
Elcid89
Posts: 567
Registered: ‎10-04-2012

Re: Pre-approved!


lsjohns00 wrote:

Hello,

 

I will be trying for a VA loan close to the end of the year. I was wondering if they only look at the midscore report or if they merge all the information positive and negative on all reports? Just trying to get a head start on what to expect.


They typically pull all three reports and use the middle score for qualifying. They'll want explanations for any baddies from any of the three reports though.

 

FICO 04 scores: 809 (EQ) 812 (EX) 818 (TU)

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New Contributor
lsjohns00
Posts: 66
Registered: ‎10-22-2007

Re: Pre-approved!

Thanks for the information! My mid score will be above 620 when I apply but I still have unpaid negative items on my report. I have an unpaid repo from 2009 that my ex was suppose to take over financial responsibility for per our divorce. I also have a charge off private student loan from 2007. Other than that I have been paying bills on time.


Starting Score: 565
Current Score: EQ 653, TU 657, EX 656 Lender Pull (MyFico)
Goal Score: 720


Take the FICO Fitness Challenge


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