Will I qualify? Income $300K, Fico 629, last time negative 2.8 years ago...

[Anonymous]

Hi, wondering if I can qualify for a Fannie Mae Super Conforming loan or even a non-conforming loan in Los Angeles county. Looking for a loan amount of $450 to 550K. 

I have a car loan and have been current for over 2.8 years. No open credit cards though... I don't want to give up any points on my credit score to apply for a card I won't use. Worst report on the credit report is failure to pay. Any tips on how I can lift the score now or am I stuck waiting? 

Thanks for the advice!!

[Booner72]

Your inquiry points will be minimal compared to the points you will get for opening revolving lines of credit.

[techgirl]

Can you have the negative  entry removed?

[Anonymous]

I believe no open revolving accounts and just one positive reporting account, along with the score, will hinder you. Perhaps one of the loan guys will chime in.

[Anonymous]

Went through Quicken Loans online as another forum member suggested, received my PreQual letter by email 1 hour after speaking with the mortgage representative. Thrilled with how nice the representative was, and the amount of time she spent explaining the programs and all the available options. Woohoo!!