Regular Contributor
dekelley1
Posts: 140
Registered: ‎12-22-2008
So I've started my journey **updated 6/27/12**
[ Edited ]

I wanted to wait until my middle score was at least a 700 before I contacted a lender.  However, after what some of you have said I went ahead and contacted a lender.  After a few hours my lender I called my lender as I was anxious.  To my surprise my credit score was a bit higher then I expected.  My middle score was 668 with TU04; which I don't understand because here at myfico it's 644.  If both are TU04 then why the difference?  Anyway, He was still determining my DTI and he advised I could get a loan for 200k with where my DTI is currently.   For me it was good and bad news.  Bad because I really want to get into a 4plex to jump start investing in realestate.  It would be perfect because with FHA I would just have to live in one of the units. 

 

I explained to him I was looking at 275k and if there was anything I could pay down to get my DTI to an acceptable percentage.  He called me back and w/out me doing anything I got pre-aproval for 250k.  I'm pretty excited, this is my first home and I can't wait to own my own property.  Now I've read plenty of horror stories so I know not to get too excited until I have the keys in my hand! 

 

Anyhow if you pray, pray for me and my family for a smooth close.  Actually I would just like to close, even if it is a rough ride. 


Starting Score: 615
Current Score: Lender pullEQ 667, TU04 698 TU98 644, EX 660
Goal Score: 700


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