Mortgage score

[Anonymous]

I was pre approved for a mortgage. Signed a contract and then was denied due to my score dropping I needed to get my mortgage score up 20 points asap any suggestions

[pizza1]

Welcome to the forums!

~Why did your Mortgage score drop?
~Did you have an old CO/bad account suddenly pop up on your reports?
~What accounts do you have reporting along with their balances/credit limits.

[Anonymous]

I am not sure I don't know what to do know I already have a contract now I don't think I will be able to move to that house that is already being built. I am heartbroken and I don't know what to do.....

[Anonymous]

It dropped to 560 I don't know what to do I know that they fico used to mortgage is different my other fico scores are over 600 I was goin to use an FHA I have good income just this daggone score. I am not sure when they will ask for the commitment letter. No one is really helping me. The realtor told me to go through the builders home buying club. I am just totally stressed. Not even sure I could get my earnest money back I just want the house in that community more than anything I relocated from up north to down south and I was so close. Pre approved now my scores are under the guidelines with that lender uggggg 

[chiefone4u]

With enough time and/or money scores can improve... it's not the end of the world. 

Get your credit reports https://www.annualcreditreport.com/  

Post in this thread all things listed in the negatives section: creditor (actual creditor/ collection agency name could get you specific answers on how to get it removed), open/closed/charge off, amount owed, date of first default. 

Then also let us know about your outstanding loans and credit cards... if you aren't comfortable giving the lenders name you can share that info using "loan 1" or "credit card 1" instead of creditor for your loans and credit cards include reported balance and credit limit for each.

With the above requested information, the members of this group can help guide you towards your best possible scores.

[TXPocohontas]

@Anonymous Yes, you definitely need to look at your credit reports (all 3 - TransUnion, Equifax & Experian) to see what is on them and then we can help you.  It may be something you can dispute and have removed to jump your scores back up in 30 days.

When did you sign your purchase contract?  What is the estimated date of the house being finished built?

Since we all use alias' here, we won't know who you are so share with us if you have any late pays, collections, how many inquiries, etc. (but not your actual credit report).  So we can help you get the knowledge you need to get approved for that house before it is finished being built.

We are here for you, ready to help.