I am so thankful for this forum - we have improved our scores by 100 and 150 points in two years! We still have some work to do, but we applied for a mortgage pre-approval with a broker and we got some good news! I know that's just the first step in a long process, but the scores they gave us were at least 50 points above what we thought they were (above myfico), so that in itself was a huge surprise! We just have to get on a payment plan for one collection but that was the only negative they came back with, and other than that she feels we are good to go.
We are so excited to even be in a positive place with our credit, thanks so much to everyone who has helped us along the way!!
On a side note, she approved us for up to 4 times our income. I don't plan on going this high, but is that normal now? Is that because of the low interest rates?
Our score is 677, we are going FHA. The unpaid collection is $4,5XX. This is the first lender we have gone through. I also have the opportunity to go through Navy Federal so I may try them as well now that I know it's actually a possibility. Do you mind me asking how much your collection was for?