Here We Go

[Anonymous]

Well I just sent the online application in to the credit union. Purchasing from wife's parents with a 20% gift of equity to cover down payment. Will keep everyone updated as we go along.  Mortgage scores on myFICO 703 TU, 678 EX, 663 EQ. 1 paid collection two years old, 1 open revolving 2% utilization, 1 open installment loan 281 monthly. Wife's scores all over 740 no derogs and 1 revolving with 1% utilization. Several paid accounts that were in good standing. Combined gross income $53,000. Loan amount $167,000.  We are in Tennessee. My last late payment was May 2013 30 days. Both have been at current employer for over seven years.

[Anonymous]

Good luck!

[Anonymous]

Good luck!!

[gdale6]

Good luck on getting your new home

[frugalQ]

Good luck!!

[Anonymous]

CU called today. She said they were sending my packet today looks like there won't be any major issues. Said right now the rate looks like 4.125 on a conventional. Is this a decent rate considering scores and situation above.

[Anonymous]

LO said that I could go ahead and lock rate for sixty days. Any suggestions

[Anonymous]

Will my score dip immediately from the inquiries that are alerting from the hard pull for application

[frugalQ]

mortgage pulls count a 1 inquiry as long as they are done in a certain time frame.  i believe it's within 2 weeks for EX, 30 days for EQ and TU.

[Anonymous]

That's what I thought. I just wonder when and how much my scores will lower from an inquiry. Anyone have any comments on the rate they offered I would love to hear them. First time buyer just curious.