topic Re: First time Home Buyer giving stats in Mortgage Loans

First time Home Buyer giving stats

Girlzilla88 — Sun, 17 Feb 2019 20:13:53 GMT

I'm not sure if this will help anyone or anything but I did my preapproval this past Wed (February 13th and was approved for the asking amount I wanted of 250k) with Mortgage Numbers EX.711, TU 685, and EQ 719 and when the guy told me he saw my report and they used the middle score of 711 I was like RIGHT ON THE MONEY! I was so happy how accurate MyFico is and this is NOT what CreditKarma or CreditSesame says my score reports so if you are looking around I would recommend definitely using the middle score of the Mortgage Options to base if you want to go ahead and shoot the shot or hold off a little I couldn't be happier and I'm so glad I waited for it to reflect over 700 too! Ty and hopefully this helps!?

Re: First time Home Buyer giving stats

Anonymous — Sun, 17 Feb 2019 20:40:08 GMT

Thank you for sharing! What was credit karma and credit sesame reporting for you? Mine was around 56 pt difference!

Re: First time Home Buyer giving stats

Girlzilla88 — Sun, 17 Feb 2019 21:26:13 GMT

Mine wasn't that big of a difference that's a big difference! My CK was showing TU at 695, and 684 Equifax and CS is showing 695

Re: First time Home Buyer giving stats

Girlzilla88 — Sun, 17 Feb 2019 21:26:59 GMT

Also on Credit Sesame it says up to 232k, and I got up to 250k So if that helps?!

Re: First time Home Buyer giving stats

Girlzilla88 — Sun, 17 Feb 2019 21:28:10 GMT

My Stats are updated as of Today so the 17th

Re: First time Home Buyer giving stats

Anonymous — Sun, 24 Feb 2019 20:33:12 GMT

Thank you for sharing, I typically always pick the lowest score if I'm talking to a lender lol. I will keep this in mind when the time comes

Re: First time Home Buyer giving stats

Girlzilla88 — Sun, 24 Feb 2019 20:52:40 GMT

That's a good mentality to have though just to be safe that way if it is higher then perfect!

Re: First time Home Buyer giving stats

Girlzilla88 — Tue, 02 Apr 2019 14:48:56 GMT

*update* It's 4/2/19 and I asked my mortgage person if by chance I could go a bit higher so I am at 270k at 4% (that % might be harder to nail though since it does fluctuate :/) middle mortgage score of 715 Our first couple of inspections are tomorrow and if all goes well by the end of this month I'll be a home owner! *fingers crossed* and I'll still keep posting to hopefully help

Re: First time Home Buyer giving stats

Anonymous — Thu, 04 Apr 2019 03:25:51 GMT

@Girlzilla88 wrote:
*update* It's 4/2/19 and I asked my mortgage person if by chance I could go a bit higher so I am at 270k at 4% (that % might be harder to nail though since it does fluctuate :/) middle mortgage score of 715 Our first couple of inspections are tomorrow and if all goes well by the end of this month I'll be a home owner! *fingers crossed* and I'll still keep posting to hopefully help

Congrats so far... Yes, please keep posting and hope all goes well.

Re: First time Home Buyer giving stats

Girlzilla88 — Thu, 04 Apr 2019 18:18:28 GMT

Thank you so far inspection went well and I'm at the verification/underwriting part for the loan I should know more he said by the end of the week and if I have hiccups along the way I'll definitely post so hopefully it can help other people better prepare or if people have recommendations they can help too!

Re: First time Home Buyer giving stats

Girlzilla88 — Mon, 15 Apr 2019 15:03:42 GMT

Update: 4/15/19 We should know by the end of the week how Appraisal went and they are estimating the close to be the 30th if all goes well...It's a long rollercoaster process even with a 'better score' but I'll post an update after we hear back from appraisal and of course if all goes well I will let you all know too! If it doesn't I'll post what they said/what happened so hopefully that helps

Re: First time Home Buyer giving stats

Girlzilla88 — Fri, 19 Apr 2019 15:50:30 GMT

*update* 04/19 Appraisal went well it was valued where it needed to be and I found out if it is under they can possible decline the loan if the homeowner doesn't lower price on home which to me sounds crazy but now it's all down to the final stages of underwritting so I should know by Tuesday if we are in the clear to close! Will keep posting!

Re: First time Home Buyer giving stats

Anonymous — Fri, 19 Apr 2019 16:29:51 GMT

good luck keep us posted

Re: First time Home Buyer giving stats

Girlzilla88 — Fri, 19 Apr 2019 16:45:07 GMT

Thank you will do

Re: First time Home Buyer giving stats

Girlzilla88 — Tue, 23 Apr 2019 19:37:32 GMT

*update* 4/23 got the ALL CLEAR to close so I'll be closing next Tuesday the 30th.....I'll update how it will affect my score after adding it (since I know it will temporarily drop) and if I remember I'll post how quick it was to bounce back a bit (I'm guessing 3 months or so maybe 6 depending on how bad it affects my AAoA)

Re: First time Home Buyer giving stats

Girlzilla88 — Tue, 23 Apr 2019 19:48:14 GMT

Also I would like to add I had 3 house offers take the higher offer (other than me) and One home Withdrawal their home so this was the 5th house we tried to get since starting in Feb so if you are lucky that you don't have to look or try again I think it could easily be done in a month or less not almost 3 months Haha.

Re: First time Home Buyer giving stats

Girlzilla88 — Mon, 03 Jun 2019 23:54:39 GMT

*update* 06/03/19 So we have the house YAY! LOL but it hasn't shown on my credit yet therefor I don't know what to put in regards to how it has affected it yet. I will let you know probably July since the first payment isn't due until this month

Re: First time Home Buyer giving stats

Anonymous — Tue, 04 Jun 2019 00:20:18 GMT

@Girlzilla88 wrote:
*update* 06/03/19 So we have the house YAY! LOL but it hasn't shown on my credit yet therefor I don't know what to put in regards to how it has affected it yet. I will let you know probably July since the first payment isn't due until this month

Congratulations! Seriously, thanks for starting this topic and providing all those updates!

I'm going to be looking at homes priced around $300,000 or so in a few years. I'll put 20% down so this matches up pretty well with your mortgage. My middle mortgage score is close to what yours was at approval, so that's really cool to know.

Re: First time Home Buyer giving stats

Girlzilla88 — Tue, 04 Jun 2019 15:16:00 GMT

YES on a Side NOTE please if you can do the 20% down so it will save you from having to have I think it's Mortgage Insurance or one of the extra payments they make you pay a month.......If I had it it would have saved me almost 400 a month but I am not that rich to save up 60k to put down ROFL and yes I probably could have gotten higher but I also am new to building credit so my average age was less than a year at the time I applied as well You may be able to get higher if you have the same score with more length on it

Re: First time Home Buyer giving stats

Girlzilla88 — Tue, 04 Jun 2019 15:16:55 GMT

I'm so glad to see this is helping that is what I was really hoping