Reply
Established Contributor
Posts: 500
Registered: ‎02-02-2013
0

WOW! So Stoked!

I literally JUST got a reply from a lender!  I applied for a USDA loan (it was a SP) since I couldn't get no final answers as to what I needed to do with my credit to get the USDA loan and was told that other than credit score everything else looks perfect!  He said that I will be able to afford more home than most people with my income since very very little debt and my DTI is so low!

 

I don't have a tradeline which he said would be best if I got one that reported for a year but he said since I was about done paying off Aarons it would shows as a two year tradeline that is paid as agreed that would be perfectly fine. 

 

SOOO once I get my score to a 620 then I have an approval!  I am so happy about this! For what I pay in rent I could have a big nice home in my area LOL :smileyvery-happy:  I know I still have a ways to go to get my score to 620 but once Aarons reports it should jump some and then I have fingerhut that will be reporting

Total CL: $40k+
Discover, BOA, GE, Cap 1, Chase, Barclay!
Gardening Start: 04/22/2013

Valued Contributor
Posts: 3,302
Registered: ‎06-09-2010
0

Re: WOW! So Stoked!

Just do not lay all your eggs in one basket.

I agree since you are working on your credit now I would opt to get a secured CC which will also help your scores.

Fingerhut and Aarons are not always known to report to the credit bureaus unless you fail to pay. Sometimes they do and sometimes they dont.
Good Luck
May all your dreams and wishes become a reality!
Established Contributor
Posts: 500
Registered: ‎02-02-2013
0

Re: WOW! So Stoked!

Great advice JM-AM!.  I have spoken with Aarons and they said they report 4 times a year  and only report once it is paid off.  Both the accounts my mom paid off are reporting so hopefully mine will as well!  Fingerhut is just a start as well.  I do plan on getting a secured card but I'm trying to find my best option and currently awaiting a reply from emailing Cap 1 CEO about my app with them. 

 

I was advised on the Opensky since it isn't a hard pull but I don't like that they start charging interest right away so I'm still trying to figure out the best option for me as far as that is concerned. 

 

Do you think it is feasible to get my score to 620-630 before the end of the year?

Total CL: $40k+
Discover, BOA, GE, Cap 1, Chase, Barclay!
Gardening Start: 04/22/2013

Valued Contributor
Posts: 3,302
Registered: ‎06-09-2010
0

Re: WOW! So Stoked!

What are your present scores?

Sorry if they are listed in your signature as I can not see them from my cell phone.
Good Luck
May all your dreams and wishes become a reality!
Established Contributor
Posts: 500
Registered: ‎02-02-2013
0

Re: WOW! So Stoked!

No problem, EQ is 576 TU Fako is 586

Total CL: $40k+
Discover, BOA, GE, Cap 1, Chase, Barclay!
Gardening Start: 04/22/2013

Valued Contributor
Posts: 3,302
Registered: ‎06-09-2010
0

Re: WOW! So Stoked!

Yes it is doable to raise your scores to qualify.

It may happen sooner depending on your entire credit profile.

I recommend you spend some time on the rebuilding board, rhere is a great wealth of information to help you.
Good Luck
May all your dreams and wishes become a reality!
Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
† Credit cards for FICO Score ranges: The score ranges are guidelines based on actual applicant approvals and having a FICO Score in a particular range does not guarantee you will be approved for credit cards recommended in that range.

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. 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.