Established Contributor
bettercreditguy1
Posts: 760
Registered: ‎02-11-2012
Re: How to look the best for mortgage approval by April?

+1 to it depends on what to do with your cash. To get the best rates additionally, you will  need at least 20% down in a trade in or cash so you will not need PMI Insurance. For now, I would keep my cash position as high as possible. When you start your mortage process, it looks good if you have cash on hand, It shows you can manage money and save. You will also then get a feeling from the LO on possible directives for some of your cash. Good luck!

Starting scores 01/02/2012 EQ 707(Fico) TU 733(Fico) EXP 735 (FAKO)
Updated scores 06/01/2014 EQ 797(Fico) TU 768(Fico) EXP 769 (Fico), EQ 849 (Next Gen 5/27/14 Penfed)


Remember the Three P's: Pay early in Full, Pay on Time, Patience