topic I'm going in! in Mortgage Loans

I'm going in!

ajsgurl0805 — Thu, 01 May 2014 13:54:11 GMT

We are applying for a mortgage with a broker today and maybe NFCU.

Me: Veteran Employed 18months (graduated last year, was a student since 2010)

Credit scores: All from myFico EX 673, EQ 667, TU, 692

Credit history: One paid collection on each (Midland) paid 2yr ago (I think)

I have (2) Verizon collections on 2/3 but they are just listing in accts and not collections (paid)

I have a "paid as agreed" satsifactory Grand Furniture acct but it is listing 3 30-90 day lates that they wont remove.

I have 3 student loans that add up to about $1300 & 3 cc's totaling $4000 with about $600 balance total.

Husband:

Credit scores: EQ fico 762

Credit history: One paid cc collection due to fall off in OCT 2014

Car loan: No lates or missed payments balance about 14,000

CC- $2000 with recent report of balance of maybe $200

2-3 other satisfactory accts that are "paid as agreed"

Combined income-92,000

DTI-under 30%

We have a nice savings and other minor assests (savings plans through employers)

Going VA Loan

What are our chances!? I am so nervous!

Re: I'm going in!

ajsgurl0805 — Thu, 01 May 2014 19:43:07 GMT

I guess I will just let you all know how it goes come tomorrow. My broker said she will try to have an answer by tomorrow afternoon. Wish us luck!

Re: I'm going in!

ezdriver — Thu, 01 May 2014 20:27:41 GMT

The scores that matter are those on the trimerge credit report that your mortgage broker pulled. The lender will use the lower of the two middle scores for both of you. All the best with your efforts to buy a home.

Re: I'm going in!

jcrsmom — Thu, 01 May 2014 23:25:54 GMT

Good luck.

Re: I'm going in!

ajsgurl0805 — Fri, 02 May 2014 17:42:45 GMT

Thank you JCRSMOM!

I just received this email from my broker!

It looks GREAT! Nice job on your credit your mid score is 686 and Husband's is 722

150K home should be no problem J

I do need to talk to you to fill in a couple of items on your loan application… (easy items that you can answer pretty quick)

I feel a little bit better but I still need to hear or see those "You are pre-approved" words before I really get excited but as far as we have come I am very grateful to have received that email.

I will update when I know more. Thanks for all of the info I received from this site!

Re: I'm going in!

TimeToRecover — Fri, 02 May 2014 17:59:03 GMT

That is awesome. Congratulations

Re: I'm going in!

jcrsmom — Fri, 02 May 2014 18:11:22 GMT

I know what you mean. Even though you know that you shouldn't have any issues, it's still nerve racking. I had spoken to my LO on Wed. about my application and he said that hopefully we would know Thurs. I didn't hear from him all day and jumped everytime the phone rang. Turns out due to the weather, they didn't work on Thursday. Got the call on Friday

Re: I'm going in!

ajsgurl0805 — Fri, 02 May 2014 18:18:05 GMT

Thank you!

Congrats to you JCRSMOM! I just got off the phone with her and she gave us the go ahead to go find a house! She was sending over pre-approval letter! she said this seems like an easy loan!

Re: I'm going in!

ajsgurl0805 — Fri, 02 May 2014 19:00:51 GMT

Ok so here are our scores!

Lender pulled 5/2/14

mine: EQ 686 EX 699 Tran 675

His:EQ 793 EX 696 Tran 722

My fico are below! My husbands EQ was 762 when I pulled it last week.