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Valued Contributor
Posts: 3,302
Registered: ‎06-09-2010
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Re: USDA help

Leave the 70 on one card with highest CL if it is possible.

 

Yes it may help but how much if any is hard to determine. Good chances everything offsets and brings your score back to where it was.

Good Luck
May all your dreams and wishes become a reality!
Established Member
Posts: 40
Registered: ‎02-07-2013
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Re: USDA help

thanks jm will do that and if that doesnt i might also make a deposit in my one secured i have 3 cards 1 with 1300 unsecured one at 750 unsecured and one at 200 that is secured. my 1300 shows 70 dollars statment just came out and that post to fico within 3 the 750 i paid down the entire amount and that will post probably tuesday or wednesday. The secured doesnt normally update till the 6th or after a little close to closing. When do lenders normally make their 2nd pull a week before closing or even earlier than that?

Valued Contributor
Posts: 3,302
Registered: ‎06-09-2010
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Re: USDA help

Can pull credit any time during process up until you close.
Good Luck
May all your dreams and wishes become a reality!
New Visitor
Posts: 1
Registered: ‎03-20-2013
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Re: USDA help

[ Edited ]

If anyone is looking for a USDA lender you can go through a Broker too.

 

I did and it was quick. I put my offer in on December 18th. On February 25th I closed, which seems to be beyond awesome from what I've read and heard. They go through a lending company and from there the lending company traded or sold my loan to Chase.

 

He might be able to help or direct you to someone who can regardless of what state you are in.

 

Company is called Crefco out of Florida. I used a guy named  Modcut He seems willing to help anyone get their credit scores to where they need to be and doesn't waste time. I think the whole team at Crefco is like this though.

 

Good luck with your home search. It took me forever to find a good company.

 

Minor Edit to remove personal identification information. Items such as full names, email addresses, and employee #s are not allowed.

Thanks,

webhopper

Established Member
Posts: 40
Registered: ‎02-07-2013
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Re: USDA help

So got some request back from Lender no biggie looking for explanation for collections and bank statments also requested rental verification and  last 12 cleared rent checks. Scores still dont show as updated but to be safe I got my credit card company to fax me letters stating the balance and limit on letterhead. Apparently my lender offers rapid rescore services but it didnt seem like they had any issues. Looking for conditional commitment tommorrow and still close the 19th. Hopefully this doesnt get tied up at the USDA office.

Established Member
Posts: 40
Registered: ‎02-07-2013
0

Re: USDA help

So got some request back from Lender no biggie looking for explanation for collections and bank statments also requested rental verification and  last 12 cleared rent checks. Scores still dont show as updated but to be safe I got my credit card company to fax me letters stating the balance and limit on letterhead. Apparently my lender offers rapid rescore services but it didnt seem like they had any issues. Looking for conditional commitment tommorrow and still close the 19th. Hopefully this doesnt get tied up at the USDA office.

Established Member
Posts: 40
Registered: ‎02-07-2013
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Re: USDA help

Update got approval with conditions nothing huge most they have. They requested a letter of explanation on overdraft from 2012 my bank list overdrafts from the year. I had some back in January but list on my bank statements from the end of the year. They had stipulated that usda must approve too it was sent to their office my approval was an approve with conditions in the gus. They also asked for proof of zero balance on the old collections or proof its over 24 months old which is odd because ot shows on my credit report as entered sept 2010. Other Conditions are are on their end transcript records from my taxes from govt directly.

Usda office says 5 days to review.
Established Member
Posts: 40
Registered: ‎02-07-2013
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Re: USDA help

FINAL UPDATE

 

So I closed on my house a few days ago closing had to be pushed for a few things tax transcripts for current year did not come in and I also had some dispute comments that I needed removed also the USDA office is very backed up and takes almost 48 hours to review each time new information is sent.. I am so happy and excited my family loves the new house and with utilities being lower we saved money and got more space! On a side note one broker came back and asked me to pay a credit report fee 60 days after I told him I was going a different direction. That is definitely not a way to earn any future business. I understand some charge a fee but he should have let me know in advance.

Frequent Contributor
Posts: 360
Registered: ‎02-20-2008
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Re: USDA help

glad you kept updating the thread.

 

Congratulations


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Established Member
Posts: 40
Registered: ‎02-07-2013
0

Re: USDA help

In recap from 550 to 655 mid score starting to rebuild credit in july 2012 got approved usda gaurunteed with a 2k unpaid collections so long as its over 24 months and not reporting disputed they did however pay a lot of attention to front end ratio which had to be under 29 even though my backend was like 32.
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