So we want to buy a house and have paid off all our collection debts a while ago (2 years) and have 3 in 1 Fako scores of EX 600 EQ 581 and TU 620. And before I started reading these boards I lived in ignorant bliss. I pulled my EQ Fico and it's at a disappointing 561. Now we did just pay off ALL of our credit cards ($1800.00 balance totals)to take utilization from 87% on all to 10% on 1 and the rest at 0%. While I know this will help my score I feel like I just took a huge hit when I found out my real score. Makes me feel like I'm getting nowhere. The credit senario the fako's run show that paying off my balance should have brought up my score about 40 points and leave me around 640 and 20 from my goal of 660 to buy a house (this is what the loan officer said we need to shoot for). We're looking at a house on the market $90,000 5 bedroom and just what we need. We will have $5000 for a down payment and enough for closing costs as well in 3 months. But there is little else I can do with the exception of DV'ing and GW'ing all our paid debts.
So while I know that we're much closer than we were I just face the reality that I'm farther than I thought I was.
Ok, enough venting, now off to get those DV letters typed.
Thanks for being there and hello to everyone here!