Better.com mortgage lender

[Anonymous]

Anyone worked with this lender before? Looking to apply for a mortgage in the next month after we file our taxes self employed income will be 50k middle mortgage score is 670 will be around 690 after i pay 1 card down next week. I signed up last night and they gave me a pre approval letter but it was only a soft pull not sure how legit this company is or how many loans they have closed don't want to have any issues I tried 3 lenders in August and was a very bad experience with all of them 

[VALoanMaster]

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@Anonymous wrote:

Anyone worked with this lender before? Looking to apply for a mortgage in the next month after we file our taxes self employed income will be 50k middle mortgage score is 670 will be around 690 after i pay 1 card down next week. I signed up last night and they gave me a pre approval letter but it was only a soft pull not sure how legit this company is or how many loans they have closed don't want to have any issues I tried 3 lenders in August and was a very bad experience with all of them 

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Hi Realestone,

There is no way a lender can pull a soft credit report & issue a pre-approval letter that is worth the paper it's written on especially if they didn't review your income (tax returns) & assets.

What happened with the previous 3 leaders in August that made your experience so bad with all of them?

[Anonymous]

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@VALoanMaster wrote:

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@Anonymous wrote:

Anyone worked with this lender before? Looking to apply for a mortgage in the next month after we file our taxes self employed income will be 50k middle mortgage score is 670 will be around 690 after i pay 1 card down next week. I signed up last night and they gave me a pre approval letter but it was only a soft pull not sure how legit this company is or how many loans they have closed don't want to have any issues I tried 3 lenders in August and was a very bad experience with all of them 

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well first i tried new american funding they strung me along for about a month waiting for a preapproval finally in the end they couldnt get me one next i tried a local lender she had me pay off 2 charged off gas bills on my report the last 2 negatives promising me she could get me approved in the end she finally told me to wait til my credit aged a few more months and try  again after all that finally i tried rocket mortgage they ran my credit and the guy immediately said we cant approve you after i told him i didnt want my credit ran because i was afraid to be turned down again so between may and august i had about 7 hard pulls from 3 different lenders all with the same result.

right now my credit age is 1 yr 6 months the only report that has a negative now is my EQ report as i managed to get the gas bills removed from my experian report so my TU and EX reports after months of writing goodwill letters are clean, my middle  mortgage score will be 690 in the next 10 days and my income for 2018 will be 50k im thinking they turned us down because of the income in 2017 we only had 24k  as agi income after a lot of deductions so i know better then that this time around i wont be taking so many deductions

[AZEsq]

I noticed you didn't have a lot of replies, so I'll tell you the truth: You're not going to be able to buy any time soon. Not realistically. It's not just your credit score, it's your age of credit, your low income, and the baddies. You should really consider going into a first time homebuyer program that can work with you to help you navigate this process. It's a ton of time and paperwork and, for some people, it's not worth it. You know your situation, and I'm not here to discourage you, the fact that you're here asking speaks volumes and you CAN achieve home ownership, but not right now.

[Anonymous]

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@AZEsq wrote:

I noticed you didn't have a lot of replies, so I'll tell you the truth: You're not going to be able to buy any time soon. Not realistically. It's not just your credit score, it's your age of credit, your low income, and the baddies. You should really consider going into a first time homebuyer program that can work with you to help you navigate this process. It's a ton of time and paperwork and, for some people, it's not worth it. You know your situation, and I'm not here to discourage you, the fact that you're here asking speaks volumes and you CAN achieve home ownership, but not right now.

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thanks for that information but we have already attained preapproval from a local lender for an fha loan we are now looking for a property to put an offer in for.  my middle mortgage score at the time they pulled it was last week was 690

[AZEsq]

I'm so glad to hear that you were able to follow the lender's advice and get your scores up. I hope you're able to find a property and get to close quickly! I still recommend working with a lender who has strong experience with first-time buyers. Without cash from a tradeup, you may not be a strong candidate in markets with low inventory and a strong lender/realtor combination can help you find the best programs including grants and downpayment assistance to make your dream reality without you going bankrupt. I am not a realtor, but am speaking from experience. Good luck!

[Anonymous]

Which lender did you go with? Better?

[Anonymous]

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@Anonymous wrote:

Which lender did you go with? Better?

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i went with synovus im about to go into underwriting in the next week