02-22-2013 06:29 AM
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 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
02-22-2013 06:36 AM
02-22-2013 06:52 AM
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?
02-22-2013 07:46 AM
Forums posts are not provided or commissioned by FICO. Forums posts have not been reviewed, approved or otherwise endorsed by FICO. It is not FICO's responsibility to ensure all posts and/or questions are answered.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.
* For complete information, see the terms and conditions on the credit card issuer’s website. Once you click apply for this card, you will be directed to the issuer’s website where you may review the terms and conditions of the card before applying. While myFICO always strives to present the most accurate information, we show a summary to help you choose a product, not the full legal terms - and before applying you should understand the full terms of products as stated by the issuer itself.
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.