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Regular Contributor
jwpezd
Posts: 219
Registered: ‎04-06-2012
0

Re: What is GUS

This sucks.... Do you think I should refi the car or try to pay down cards and rescore??
Chase Freedom-(1000) BOA 123-(2000) Home Depot-(4000)
Discover IT-(1000) Lowes GE-(1500) Orchard Bank-(300)
Regions Student Visa-(500) Best Buy Reward Zone-(500)
In the garden till 4/01/2015
Valued Contributor
tooleman694
Posts: 2,297
Registered: ‎08-25-2011
0

Re: What is GUS

The car refi will lower your score, but get your DTI in check.

 

The paying off the cards will raise your score.

 

I would go with the cards.

Regular Contributor
jwpezd
Posts: 219
Registered: ‎04-06-2012
0

Re: What is GUS

This is so damn frustrating. The credit union only PULLS THROUGH TU when refinancing. That's my highest score. How much can I expect to drop?
Chase Freedom-(1000) BOA 123-(2000) Home Depot-(4000)
Discover IT-(1000) Lowes GE-(1500) Orchard Bank-(300)
Regions Student Visa-(500) Best Buy Reward Zone-(500)
In the garden till 4/01/2015
Valued Contributor
tooleman694
Posts: 2,297
Registered: ‎08-25-2011
0

Re: What is GUS

it all depends on your profile, but my scores are in your range and dropped about 5 points when I bought my car over the summer.

Regular Contributor
jwpezd
Posts: 219
Registered: ‎04-06-2012
0

Re: What is GUS

I'm about ready to just walk away from this.
Chase Freedom-(1000) BOA 123-(2000) Home Depot-(4000)
Discover IT-(1000) Lowes GE-(1500) Orchard Bank-(300)
Regions Student Visa-(500) Best Buy Reward Zone-(500)
In the garden till 4/01/2015
Established Member
custombusa
Posts: 36
Registered: ‎12-24-2012
0

Re: What is GUS

i thought that usda mid fico only needed to be 640. Did they change this. Ill be applying in july. thanks

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

Re: What is GUS

Mid score is Lender dependent.
Good Luck
May all your dreams and wishes become a reality!
Valued Contributor
tooleman694
Posts: 2,297
Registered: ‎08-25-2011
0

Re: What is GUS

But I thought it was USDA guidelines to have a 660 to get a waiter for ratios.

Regular Contributor
jwpezd
Posts: 219
Registered: ‎04-06-2012
0

Re: What is GUS

My scores are fine. 640 is the common spot for approval my problem is DTI. Anybody with any advice on what to do from here. I hear back from underwriting today or tomorrow. I am assuming its going to come back denied assuming my math is right. I can't believe a half percent is a deal breaker. That's like twenty dollars to much in payment.
Chase Freedom-(1000) BOA 123-(2000) Home Depot-(4000)
Discover IT-(1000) Lowes GE-(1500) Orchard Bank-(300)
Regions Student Visa-(500) Best Buy Reward Zone-(500)
In the garden till 4/01/2015
Valued Contributor
JM-AM
Posts: 3,302
Registered: ‎06-09-2010
0

Re: What is GUS

No guarantee a denial. Look for the brighter side possibly a conditional approval if bring DTI down for full approval.
Good Luck
May all your dreams and wishes become a reality!

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