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Waiting is the Worst! (Updated - credit is garbage)

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KBreininger05
Established Member

Waiting is the Worst! (Updated - credit is garbage)

[After 5 years of credit rebuilding after my divorce I *fingers crossed* am where I need to be to get approved for a mortgage!  I requested my lender pull my credit on Friday.  All weekend and this morning already I am sick to my stomach waiting to hear back.  I use quizzle (eq) credit karma (tu) & credit sesame (ex) to track my scores and im 600,601 & 626.  I know from previous experience (renting my apartment) that the scores these programs show me are about 20+/- pts off from what my FICO is so I went for it even though my "mid' isn't above 620 (where it needs to be).  I am SO nervous!  I have SO many inquiries on my stupid report from CLI requests and CONSTANT denials that I'm really paranoid about adding new ones!  WISH me LUCK!  Owning a home has been my "5 year goal" for the last 9 years! LOL]

 

I heard back from the lender

Lender's Score:

614

My Pulls:

626

 

 

Transunion

Method to Pull:

Credit Karma

 NONE600Equifax Quizzle
560600ExperianCredit Sesame

 

Weird things are coming up on what does appear for Equifax, I apparently have an alert in place due to ID theft?! News to me.

 

And my derogatory summary is:

 

4 Charg Offs (ALL paid - all closed)

4 Collections (ONE current - rest PAID/Closed)

3 - 30 days ate (1 on current loan - submitted a GW letter to remove 1 on old closed loan)

4 - 60 days late (2008) (Studen Loans - now closed (refinanced))

4 - 90 days late (12/2008) (Student Loans - now closed (refinanced))

 

My lender is submitting my report for analysis to determine how I can hit 620+ the fastest. 

 

I am at 87% UTIL but it will be 65% UTIL after this Friday, if that is making the biggest ding.

 

I am SO upset over this. 


Starting Score: 580
Current Score: 620
Goal Score: 680


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Message 1 of 7
6 REPLIES 6
gdale6
Moderator Emeritus

Re: Waiting is the Worst! (Updated - credit is garbage)

Applying blind by not knowing what your FICO scores are is never a good idea but a mortgage pull is needed in preparation for the real mortgage. This will bring out any scumbags that may be hiding in the closet and give you a chance to take care of them. I can tell you the fastest way to get the points you are after is to pay down your utilization to less than 10% on 1 card with the others showing 0. Good luck Smiley Happy

Message 2 of 7
KBreininger05
Established Member

Re: Waiting is the Worst! (Updated - credit is garbage)

I am also sending GW letters to the various creditors I have paid charge offs with that are several years old as well as GW letters requesting the removal of a late payment here or there on my history.  I guess I thought my "fake" scores were close enough.  It did allow me to discover that my Equifax report (which hasn't been updating sine 2013) had an extended fraud alert on it.  I am hoping this hiccup in the road will just get me on solid ground to move forward with a cleaner slate.  Wors case scenario, all my bad remarks were from 2008 so they will all start to fall off throughout the year if my GW letters don't work.


Starting Score: 580
Current Score: 620
Goal Score: 680


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Message 3 of 7
tattooedhusker
Established Contributor

Re: Waiting is the Worst! (Updated - credit is garbage)

Like stated above, UTI is murdering you right now. Pay that down while you wait to hear back on the GW letters.

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Message 4 of 7
KBreininger05
Established Member

Re: Waiting is the Worst! (Updated - credit is garbage)

I am.  I am paying $300/mo down on $1600 (out of $1800) worth of credit.  By Friday I'll be at 60% across the board, etc until its paid. Down.  I plan on only using one CC and PIF every month after its ALL paid down.


Starting Score: 580
Current Score: 620
Goal Score: 680


Take the myFICO Fitness Challenge
Message 5 of 7
alvon123
Super Contributor

Re: Waiting is the Worst! (Updated - credit is garbage)


@gdale6 wrote:

Applying blind by not knowing what your FICO scores are is never a good idea but a mortgage pull is needed in preparation for the real mortgage. This will bring out any scumbags that may be hiding in the closet and give you a chance to take care of them. I can tell you the fastest way to get the points you are after is to pay down your utilization to less than 10% on 1 card with the others showing 0. Good luck Smiley Happy


+1


Message 6 of 7
KBreininger05
Established Member

Re: Waiting is the Worst! (Updated - credit is garbage)

I just received a CLI denial letter from Capital One that pulled my EF score, its 635. So my middle score would end up being 616.  I'm 4 pts away from where  I need to be and sent as many GW letters out as I could to OLD paid negative debts.  I'm hoping those will clean up my report at least if they remove them, AND paying my cards down/off will boost my score fast!  No one likes to be rejected but seeing how CLOSE I am, I feel good about my timeline.  Still planning on closing over the summer, and that should be doable with scores so close and UTIL going down.

 

Thanks!


Starting Score: 580
Current Score: 620
Goal Score: 680


Take the myFICO Fitness Challenge
Message 7 of 7
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