Credit Cards Center Credit cards from our partners
Reply
Contributor
Posts: 127
Registered: ‎12-11-2012
0

scared witless, help

My journey...
My first grandson was born in January. He started crawling in October. We realized we wanted a nice home for grandbabies to visit Nonna and Papa. Had a LO pull credit. My husband was preapproved for a loan. I needed to raise my score as everything was in my husbands name. Started looking for a home and working on my fico score. Found the perfect home that every country grandparent should have. We are from upstate SC y'all. Smiley Happy Its an old complely remodeled farm house. Just beautiful. Unfortunately it will take both our incomes for purchase price. Lender, real estate agent, and homeowner encourage us to make an offer as my score is close. We make an offer toward the end of October. Offer is acceptecd. Closing is set for 12-28-12 with homeowner agreeing to extension if needed. Loan officer pulls credit on 12-14-12. Score needs just 5 points to quailify. Scramble to get a past medical deleted. Pull it off thanks to this site! Total of 63 points added since first pull in October. Wow. Filled out app with LO and faxed requested documents 12-20-12. Whew. I've had no sleep, stalking this website. Obsessing over this.
Any of you wonderfully knowledgeable people know what happens next and any guesses on timelines. I know LO has to process everyrhing and I think she will be the one to approve or deny it to be sent on to underwriter. I feel like I worked so hard and now I'm helplessly waiting.
So, for those who read my long winded story I thank you.
Contributor
Posts: 127
Registered: ‎12-11-2012
0

Re: scared witless, help

I forgot to say we are doing usda.
And for anyone out there it is possible to take control of your credit! If I can do it you can do it. I didn't have a clue about such things but I'm learning.
Moderator
Posts: 14,051
Registered: ‎04-15-2011
0

Re: scared witless, help

I read it, your LO should be holding your hand every step of the way.  Looks like you've done what you can do.  Hopefully this will be a done deal.  Wishing the best and a Merry Christmas.

Starting Score: 504
July 2013 score:
EQ FICO 819, TU08 778, EX "806 lender pull 07/26/2013
Goal Score: All Scores 760+, Newest goal 800+
Take the myFICO Fitness Challenge

Current scores after adding $81K in CLs and 2 new cars since July 2013
EQ:809 TU 777 EX 790 Now it's just garden time!
Frequent Contributor
Posts: 305
Registered: ‎07-05-2011
0

Re: scared witless, help

You are on your way.  I went USDA Guaranteed in Alabama and  once I put a contract on a home everything went relatively quick after that.  With appraisal, inspection,Lender Underwriting and USDA Underwriting it took approximately one month.  What helped was the fact that what ever documentation that was requested I had it to them immediately,  Some of the stuff was fustrating but well worth the headache once you close and move in, so don't be afraid because any prize is worth the fight.

 

Happy Home Buying

Fico September 2012; TU 681, EX 674, EQ 652
Fako October 2012: TU 706, EX 641,
Contributor
Posts: 127
Registered: ‎12-11-2012
0

Re: scared witless, help

Thanks guys. Congratultions Germaine! I am so excited. I'm hoping the appraisal happens next week after Christmas of course.
I've certainly been a faxing machine and have listened to y'alls advice on saving every copy in case I need to resend.
Merry Christmas!
Valued Member
Posts: 65
Registered: ‎12-15-2012
0

lRe: scared witless, help

leppy I just want to say you're not alone. I'm in a similar situation, although it's my husband who can't qualify, and I am carrying the entire burden of securing the mortgage myself. Mine is an FHA loan. 

At this point things are running smoothly, but I have a huge (hopefully irrational) fear that when it goes to underwriting they will find something to shoot it down. I am not in a community property state, and from everything I've read they can't use my husbands problems against me, but I still worry. My LO is an angel who is in constant contact. She has worked so hard, I keep telling myself she would't dedicate this much work to something she didn't think would fly. My estimated closing date is on or before January 20th, but I have about 95% of eveything theyve asked for turned in.

The next few days will be hard, everything is at a halt for the holidays. I'm hoping they go into high gear when the holidays over. Best of luck to you, hopefully we will both end our stories with a happy new home! Smiley Happy

Contributor
Posts: 127
Registered: ‎12-11-2012
0

Re: scared witless, help

Aww that's wonderful BH. I'm terrified of underwriting and find myself waiting for the rug to be pulled out from underneath. I keep saying the same thing about my LO! Our closing will be around the 22nd. Oh boy I sure hope we will both living our dream this.time next month!
Keep me posted and Ill update for you so we can compare notes and offer encouragement.
MERRY CHRISTMAS
Regular Contributor
Posts: 144
Registered: ‎12-16-2012
0

Re: scared witless, help

@germaine, may I ask who you used as a lender? We're planning on going USDA too and we're also in AL.




Starting Score: 588
Current Score: 610
Goal Score: 650


Take the myFICO Fitness Challenge
Frequent Contributor
Posts: 305
Registered: ‎07-05-2011
0

Re: scared witless, help

Maluba I have PM you the information from my MB I hope this help, they are grea bunch of people.

Fico September 2012; TU 681, EX 674, EQ 652
Fako October 2012: TU 706, EX 641,
Contributor
Posts: 127
Registered: ‎12-11-2012
0

Re: scared witless, help

Update.
Appraisal is set for Monday. LO says things look fine for underwriting and she sees no reason for concern. Smiley Happy

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.
† Credit cards for FICO Score ranges: The score ranges are guidelines based on internal myFICO analysis of 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. These ranges were not provided by any card issuer.

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.