Dead end

[Sbrooks1]

Well why ibhoped to get into the range of MMS 720, I have exhausted all efforts and looks like I will be stuck with a 676, so FHA it is. Kinda depressing but I have learned a lot and done my best!!

[VALoanMaster]

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@Sbrooks1 wrote:
Well why ibhoped to get into the range of MMS 720, I have exhausted all efforts and looks like I will be stuck with a 676, so FHA it is. Kinda depressing but I have learned a lot and done my best!!

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Hi Sbrooks1,

Congratulations on rebuilding your credit.

You may still qualify for a conventional loan but if you don't, you have no reason to be depressed. FHA is a great program & FHA is dropping the MI so your monthly payment will probably be less than if you went with a conventional loan.

[Anonymous]

I feel your pain......im stuck at 675 :/

[Sbrooks1]

I am so glad the pmi is dropping!!!! I will just be grateful to be in a home , but was hoping to get a little higher score!!

[jamevfan]

Awesome!! Not bad but the 700's lasted a short while for me lol (2-3days) lmaooooo thought I had it all down pact, you still have time so maybe you can get the score youre working so hard for by the time closing comes for you. Good Luck!!

[Sbrooks1]

I've decided against building so closing should take 30 -45 days if I get approved. So probably would not repull. I don't even know if I will qualify between the IRS ID theft and transcript issues and the installment plan.

[Sbrooks1]

Jamevfan, you paid your cards down are they going to do a rapid rescore?

[DallasLoanGuy]

compare conv......   many lenders can do conv down to 620 with just 5% down.

with fha pmi for life of loan....  it is a consideration..... depending on how long you plan on being in the loan

[Sbrooks1]

I only plan to stay 5 years, but with a 676 mid score conventional rates would kill me 🤔

[jamevfan]

Long story, I am awake at midnight waiting for a fax for the requested letter needed so I can submit tomorrow to begin my rapid rescore. So far there is nothing rapid about the whole process.......gonna be a long night. :0)