Mortgage Scores Skyrocketed...

[Anonymous]

I am estatic right now! I had our mortgage scores pulled yesterday with the 3B report and we are now only 24 points away from the min score requirement our lender needs for FHA. My mid-score shot up 73 points from the month before because I had 2 collections from Portfolio Recovery deleted after I paid them and I had both of those Cap One accounts updated to 0 balance (after I paid PR). I just hope now in the next 2 months we can gain the 24 points we need for pre-approval and then start building our home. Builder sayd 5-6 month build time which gives us even more time to get our score higher for final rate quote. 

My mortgage scores:

Experian 576

Transunion 550

Equifax 596 

My husband's mid mortgage score is 600, which is what our lender requires. We are so close to building our dream home!!!! 

[ccquest]

Great news and keep up the good work to get that house!

[Anonymous]

Thank you!!! I was so happy to see them increase... I was starting to feel defeated. 

[AllZero]

Congratulations on your success!

[M_Smart007]

"We are so close to building our dream home!!!! "

That is a beautiful thing!!!

[Iusedtolurk]

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@Anonymous wrote:

I am estatic right now! I had our mortgage scores pulled yesterday with the 3B report and we are now only 24 points away from the min score requirement our lender needs for FHA. My mid-score shot up 73 points from the month before because I had 2 collections from Portfolio Recovery deleted after I paid them and I had both of those Cap One accounts updated to 0 balance (after I paid PR). I just hope now in the next 2 months we can gain the 24 points we need for pre-approval and then start building our home. Builder sayd 5-6 month build time which gives us even more time to get our score higher for final rate quote. 

My mortgage scores:

Experian 576

Transunion 550

Equifax 596 

My husband's mid mortgage score is 600, which is what our lender requires. We are so close to building our dream home!!!! 

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Your excitement has me excited. Congrats on your scores going up and I know with doing what you are supposed to do will increase them even more.

Definitely browse through the forum for tips to maximize your and your husband scores. Little things like practicing AZEO (search forum for detailed explanation if you are not familiar with it) around application time will boost your scores.

[mzchanel]

Congrats 👏 👏 👏.  What lender did you use? How did things work out for you? 

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@Anonymous wrote:

I am estatic right now! I had our mortgage scores pulled yesterday with the 3B report and we are now only 24 points away from the min score requirement our lender needs for FHA. My mid-score shot up 73 points from the month before because I had 2 collections from Portfolio Recovery deleted after I paid them and I had both of those Cap One accounts updated to 0 balance (after I paid PR). I just hope now in the next 2 months we can gain the 24 points we need for pre-approval and then start building our home. Builder sayd 5-6 month build time which gives us even more time to get our score higher for final rate quote. 

My mortgage scores:

Experian 576

Transunion 550

Equifax 596 

My husband's mid mortgage score is 600, which is what our lender requires. We are so close to building our dream home!!!! 

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[Anonymous]

Congrats on the improvements.

Question though.  What is holding your scores back?  The fact that the removal of 2 major derogs resulted in a large score jump sort of indicates that you file could have gone from dirty to clean, but those scores aren't indicative of a clean file.  Do you have other negative items present and if so, what are they?  Also where does your utilization currently sit?