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Credit Rebuild - Aiming for Mortgage Loan in 6 Months - Questions

New Contributor

Credit Rebuild - Aiming for Mortgage Loan in 6 Months - Questions

Hello all! First ever post on MyFico!


March 2019 Started at:

TransUnion: 529

Equifax: 520

Experian: 498


        Okay, I've always been a "Cash is King" kind of person. Of course this was mainly because, you guessed it, young dumb bad payment history and bad credit! Well, 7 years had passed on 90% of my baddies execpt one Wells Fargo Auto Loan Repo(which should fall off within the next 4 months) and is only on my Experian Report. So I decided to clean up my act! Starting in March I had to dispute a couple items to get them removed(due to age)(and they were removed), and by April, I had my first Secured Citi Bank Card! Flash to May, and I was approved for a Capital One Platnium Card. And this month I was approved for a Credit One.(both unsecured)


Citi - $200 in April 2019

Capital One - $300 in May 2019(CLI to $400 June 2019)(pressed the button and what do you know!)

Credit One - $500


Total Credit Utilization: 28%


Not the best starter cards I know, but hey it's a start!



Since cleaning up my reports and actually getting credit, my scores have surprisingly incredited more then I thought was possible and are still moving upward every month! TransUnion hasn't reported this month yet, but I hear they run a bit behind and expect it to break 600 this month like Equifax. 


TransUnion: 594

Equifax: 612

Experian: 646


Experian Fico Scores:

       Mortage Leaning-

               Fico 2: 720

       Auto Lending-

               FICO® AUTO SCORE 2: 742

               FICO® AUTO SCORE 8: 650

       Credit Card Lending-

               FICO® BANKCARD SCORE 2: 727

               FICO® SCORE 3: 640

               FICO® BANKCARD SCORE 8: 647


I believe what is now hurting my score the most is the fact my avg. credit age is 2 months on TransUnion and Equifax.(please correct me if I wrong) But there are not reported derogs on either or collections. And everything is paided on time!


My wife and I would really like to buy a home very soon and can put down $30,000 now and probably $40,000 down in 6 months. Now that my background is semi cleared up, it's question time!


Will the Fico scores Experian lists really have any impact on a Mortgage Loan decision?(this numbers are more flattering)


Since I'm starting with pretty much a blank slate, do you all think my scores will increase enough over the next 6 months as the avg credit age increases and I receive CLI that I might be able to receive a half decent Mortgage Loan APR or even receive a Mortgage Loan period?!


Any insight, suggestions, or questions/facts I may of missed, that anyone would have would be AMAZING!

Message 1 of 3
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Re: Credit Rebuild - Aiming for Mortgage Loan in 6 Months - Questions

Welcome to the forums. There's loads of information, and everyone is very helpful. My suggestion would be to not build up a lot of inquiries. Keep your goals in mind. And remember everyone's journey may be similar, but all different. 


For mortgages, it will be based on your middle mortgage score.



Best of luck to you

Message 2 of 3
New Contributor

Re: Credit Rebuild - Aiming for Mortgage Loan in 6 Months - Questions

Thank you for the warm welcome! Luckily with the 3 card I got to help build, I managed to only have 2 inquiries on my TransUnion and Equifax. Now my Experian does have 3 now. But I'm not planning on adding anymore until we try to get our mortgage. Hopefully now that I think all the ingredients are in place, I can just let her sit and cook awhile and we'll end up with something nice in 6 months!
Message 3 of 3
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