Increase Score to obtain mortgage

[HopeAtLast]

Need Help.I know this question has been asked frequently but need help with my specific situation. I am planning to apply for a home mortgge. My current myfico scores  are EX 754, EQ 731 and TU 733.  I had a lender pull my scores and the lender scores came back EX 713, EQ 706 and TU 706.  I need to increase my scores to 740 to get the best rates.  I maintain my credit card balances below 10% and am carrying a balance on only one card. I have four installment loans:  car note with 35% of total limit left to pay; two student loans with 65% of  total limit left to pay; and one personal loan with 55% of total limit left to pay.  I had a history of late payments but they  were over 5 years ago.  What can I do to increase my score?   Thanks for all suggestions and advice.

[Shogun]

Looks like you're doing a heck of a job.  Let's talk about the lates.  Were they major or minor?  If they were only 30-60 day lates, they've done their damage.  If they were 90 or above, they are still affecting your score.

[HopeAtLast]

OK, very insightful. I do have a couple of 90 days that occurred in 2008.  So, I guess I need to wait until next year when they reach 7 years and are removed.  I thought since they were over 6 years it would not count as much.  Thanks very much.

[jdp1]

You could GW the lenders reporting the 90 day lates and explain your situation asking them to not report the lates. You never know.

[HopeAtLast]

Thanks, I'll try and see what happens.

[HopeAtLast]

Let's talk more about the late payments.  The first date of delinquency has NA.  The paterrn looks like this - June late , September -November late.  How will these be deleted, one at a time or all at once?

[HopeAtLast]

Do you know where I can find examples of excellent GW letters?

[jdp1]

Just search the forum and try and fine one that suits your situation. There's a ton of em on here.

[DrMac210]

---

@HopeAtLast wrote:

Let's talk more about the late payments.  The first date of delinquency has NA.  The paterrn looks like this - June late , September -November late.  How will these be deleted, one at a time or all at once?

---

I had MANY 90+ day lates that fell off over the course of four months last year, when the last ones fell off, my score went up around 30 points.

They will be deleted one at a time as each one hits the 7 year mark. (each of mine actually fell off 2-3 months earler than the 7 year mark)