Reply
New Member
Posts: 8
Registered: ‎09-15-2010
0

Update to No FICO score/Mortgage

We were preapproved yesterday for a mortgage with no FICO score (we closed everything about 8 yrs ago to see if we could live without debt, didn't realize my score would go away). We have 3 tradelines on the CRs but they aren't 6 months old until Dec, no negative anything.  I provided 2 years of bank statements, bills/receipts for cell phones, internet service, rent, etc. They only requested 12 months but I keep paperwork and it is always organized so I thought it would be better to give them all the info and let them discard what they didn't want or need. I also provided 3 letters from the above monthly bills stating that we had been on time and not late for the past 24 months (again they asked for 12 months). 2 years of tax statements also.

 

I voluntarily provided mutual fund info, 2 other bank accts and their statements. I was able to show that in the spring we bought a 2 yr old SUV in cash and how I had made "payments" to myself for a little over a year to accomplish that.

 

So, it all went to the underwriter (actual person, not automated) and it was quickly approved. In December we will have a credit score again so we'll see where they start us out and go from there. Oh, the mortgage is for a conv mortgage, not VA (husband is active duty) or FHA.

 

So there is hope for those of you without a credit score and wanting a mortgage.

Super Contributor
Posts: 8,273
Registered: ‎09-28-2007
0

Re: Update to No FICO score/Mortgage

Established Contributor
Posts: 855
Registered: ‎06-29-2010
0

Re: Update to No FICO score/Mortgage

What type of lender underwrote the loan?

Get a myFICO recommended credit card

Copyright ©2001-2013 Fair Isaac Corporation.
All rights reserved.

IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions based on Experian or Equifax data (additional FICO® Score versions based on TransUnion data are not currently available on myFICO.com). Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.