when will fico go up???

[Anonymous]

Hello all,

Im new to this. I am trying to get approved from a home loan through usda. my last check of my fico at equifax was 595. but since then ive had 3 collections deleted and 5 inquires. but no updates to my score!!! Can anyone give me advice???

[llecs]

Did you pull a new report after these items were deleted?

In general, inquiries have very little impact. Congrats on the CAs! Do you have any other CAs remaining? How about other baddies (90+ days, PRs, COs, etc.)?

[Anonymous]

thanks for the quick reply!!!

yes, i just pulled my equifax report from here (myfico.com) and my score increased to 602. but i have no idea what the others (TU & EX) are.  As far as what is left. its different on each report.

equifax= 4 Paid in full collections( didnt know about pay for delete when i paid them off)

                1 collection that is past SOL ( removed from other 2 credit reports, still waiting on this one)

                A few more inquires

Experian=1 collection that is bogus and im disputing(not on other cr)

                  1 Paid in full collection

Transunion=1 Paid in full collection

[llecs]

You'll see larger bumps in score when the last one or two are removed. If paid, send each a GW letter for removal.

Inquiry damage is overrated. In my hayday, I added #'s 10-30 and saw no change in FICO score at all. Also, inquiries beyond 1 year do not impact your score.

You can also pull TU from here. Unfortunately, as of mid-February, EX no longer allows consumers to pull their own FICO score. Though, your lender will provide you with an EX FICO score if you ask for it at app time.

[Anonymous]

Thank you for the info. you have been very helpful.  Wish me luck!!! Who do i send the gw letters to? and also do you know where i can get a sample of one of these letters?

[llecs]

Check out:

GW Example Letters - tweak to your situation,

and What Steps Do I Take - great for learning the repair process.

You'd send the GW letter to any paid CA and send it to the address listed in your CRs.

[Anonymous]

ok. thank you. i will try sending the letters and see if that helps.

[Anonymous]

Can someone tell me the process of a direct loan through usda? From a to z? Im trying to get a approved and would like to know what i am up against. thanx.

[llecs]

You may want to ask that over in Mortgage Loans.

[RobertEG]

sarahsmom, the first thing I would suggest is that you go onto annualcreditreport.com, and get your free credit report from all three CRAs.

That site is available to you free, once a year, under the FCRA, and will give you the most detailed information on what is in your credit file.  It is NOT a commercial site.  They dont give  you credit scores, but it is the most complete starting point available for you to know what to address.