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Regular Contributor
Chbraswell
Posts: 151
Registered: ‎07-02-2012

Still Waiting for Preapproval

Last week wednesday i applied with wells fargo through an old LO I knew from back in the day and she said on Friday that she would start working on my file earlier this week. So I reach out to her for an update. At the same time I went through PNC just because wells said all they need is 600 which I am good at, and my mid score should be 629 with TU so I should be okay with a FHA (pending the EX FAKO isnt too far off).  I applied for PNC on thursday and the guy emailed me on Friday but i didnt call him back because immediately because the name wasnt familiar.  So then I received another email from him on Tuesday, so I called him and he took my information over the phone.  So today I pulled my EX to see if there has been any inquiries and it looks like PNC pulled today.(Nothing from wells yet).  I know I am being impatient but I really am just curious to see if i quaify because I read several stories where people monitored there credit from these sites and then they go in and they are too different to apply.  So once I know if I can start the house hunt or not I'll be pretty excited!

 

 

I have been working on my credit for a few months!  I had two collections removed from experian as well as one charge off credit line deleted ane one loan added as included in my bankruptcy.  The same for Transunion but only one collection was removed.  My utilizations have fallen below 24% and since my bankruptcy I have not been late. 

 

My scores are EX FAKO 647 TU 629(didnt have one of my accounts updated when I pulled) EX 615.  I hope to hear something today! If not i'll try again next year! 

Beginning:Explus 630 eq 573 tu 593
Current: EXplus:677 Eq 642 TU 727
Goal: Explus 700 eq 700 tu 800

Merrick: 1550 Capital One:1150 Barclay: 2000 Walmart: 300 Chase Freedom: 500
Regular Contributor
Chbraswell
Posts: 151
Registered: ‎07-02-2012

Re: Still Waiting for Preapproval

So yay!!! I got my preapproval!!! I am so excited!!! Now the house hunting begins!!!   My Transunion score was exactly correct, my eq was 619 and my experian was higher than I thought at 677! So close to 700, maybe next year!   I'll keep you guys informed!!

Beginning:Explus 630 eq 573 tu 593
Current: EXplus:677 Eq 642 TU 727
Goal: Explus 700 eq 700 tu 800

Merrick: 1550 Capital One:1150 Barclay: 2000 Walmart: 300 Chase Freedom: 500
Regular Contributor
indecison
Posts: 226
Registered: ‎05-24-2012

Re: Still Waiting for Preapproval

Congrats! Happy hunting!

Regular Contributor
Chbraswell
Posts: 151
Registered: ‎07-02-2012

Re: Still Waiting for Preapproval

So yesterday i found a home and put in an offer and they seller accepted it today!!! yay!!! I am tooo excited!!!  So this week is the inspection and now the terror that most people have, the underwriting part is going to happen.  I am with Wells Fargo, anyone has any tips?

Beginning:Explus 630 eq 573 tu 593
Current: EXplus:677 Eq 642 TU 727
Goal: Explus 700 eq 700 tu 800

Merrick: 1550 Capital One:1150 Barclay: 2000 Walmart: 300 Chase Freedom: 500
Frequent Contributor
phumanr
Posts: 344
Registered: ‎05-29-2007

Re: Still Waiting for Preapproval

Congratulations!

 

If I might ask, when type of BK was it and when discharged?  I applied on Thursday with Wells with a 607 and waiting on a decision on preapproval.

Regular Contributor
Chbraswell
Posts: 151
Registered: ‎07-02-2012

Re: Still Waiting for Preapproval

My bk was a chapter 7 and it was discharged in 2010. So i became eligible for a loan early June.  You may be okay because they do say they want a 600 and above but you will have to be careful not to open any new credit lines or have inquiries

Beginning:Explus 630 eq 573 tu 593
Current: EXplus:677 Eq 642 TU 727
Goal: Explus 700 eq 700 tu 800

Merrick: 1550 Capital One:1150 Barclay: 2000 Walmart: 300 Chase Freedom: 500
Regular Contributor
Chbraswell
Posts: 151
Registered: ‎07-02-2012

Re: Still Waiting for Preapproval

So as of today, they accepted my offer and we are officially in contract!!!!!! Now i have to send my lender my info and now we are waiting for that dreaded u/w process.  I have an inspector going through on Thursday so I am pretty excited!!!!!

Beginning:Explus 630 eq 573 tu 593
Current: EXplus:677 Eq 642 TU 727
Goal: Explus 700 eq 700 tu 800

Merrick: 1550 Capital One:1150 Barclay: 2000 Walmart: 300 Chase Freedom: 500
Regular Contributor
Chbraswell
Posts: 151
Registered: ‎07-02-2012

Re: Still Waiting for Preapproval

also @ phumanr good luck!!!!

Beginning:Explus 630 eq 573 tu 593
Current: EXplus:677 Eq 642 TU 727
Goal: Explus 700 eq 700 tu 800

Merrick: 1550 Capital One:1150 Barclay: 2000 Walmart: 300 Chase Freedom: 500
Frequent Contributor
phumanr
Posts: 344
Registered: ‎05-29-2007

Re: Still Waiting for Preapproval

Thank you.

 

Mine was a discharged Chapter 13 BK on December 1, 2011. I have gotten varying feedback on this so I applied with Wells Fargo. 

Regular Contributor
Chbraswell
Posts: 151
Registered: ‎07-02-2012

Re: Still Waiting for Preapproval

Well i definitely hope you get it! I wanted to move into an apt. but the amount for that was so high i thought home buying would be better.

 

 

My LO responded back today stating that she would start working on it, my contract was sent to her yesterday by my realtor and my inspection is confirmed for tomorrow.   From what i understand I believe the LO has 3 days to get back to me regarding my GFE which i am not sure if it started yesterday or today but i know she has until the end of the week!! :smileyhappy:

Beginning:Explus 630 eq 573 tu 593
Current: EXplus:677 Eq 642 TU 727
Goal: Explus 700 eq 700 tu 800

Merrick: 1550 Capital One:1150 Barclay: 2000 Walmart: 300 Chase Freedom: 500

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