Let see where do I begin, I guess March 2010 when the government was giving tax credit for home buying. So me and my wife was like great we should be able to get that. So we don't know what all it took but of it was as simply as buying a car we should be good. We started looking in different neighborhood around town. Finally found a home builder that could build us our home. So we pick a lot, and put our earnst money down $4800. All this without a pre approved letter. So the builder had their own mortgage company that if financed with we could be getting all of our money back at closing because of 100% financing. So that sounded like sweet music to our ears. We go to their mortgage company to get approved. And come to find out neither our credit was above 620. So the mortgage agent give us advice to get my credit up. Because I could carry the loan on my income alone. So basically 6 month go by my house is builded to my design. Still unable to obtain financing even with all the tip he gave me. I was stuck at 618 for 3 month. Finally they have up on us. Gave us our money back and sold the house to someone else.
2011 my wife is pregnant with our second child and we decide that is not the best time to look for a house.
Late 2012 we start looking again not knowing where our credit was at the time but didn't care because it should at least be better than two year ago. So we meet a nice realtor that point us in the direction of a different mortgage broker. She pulls my credit and say great your scores are at 633 you need a 640 now. Do these couple thing come in see me in 4 months.
2013- 4 month pass I did everything that was asked of me. Sorry your score is now under 600 what happen. Somehow I default on my student loan. My tax return garnish and they were about to start garnishing my payroll. Not good at all. So after 6 month of garnment. I was clear up. Even got a couple of check because I over paid them. So I figured now that is cleared up i should be good. Wrong they were still reporting that had a balance of $1. So after 3 month of fight with CRA. Finally was able to clear that balance off the report. Go back to mortage broker and say pull me again. Back to the 618 medium score again just my luck. So the wife was beat so we said no more.
March 2014- I go back to the same mortgage broker and the same score. My wife was frustrated. I told her it will get better.
So after reading on here about the shopping cart trick. And some other tip I finally so the score I like on credit karma. Ok let do it. Call the same oh mortgage lady and she said I think u should wait. I said ok knowing that she was wrong this time. So me and the wife kept lookinh for house
August 2014- talk with one of my employees and my house search problem he said my dad a realtor. I am sure he can help point you in the right direction. so call him on a Friday by that monday I was speaking with a new mortgage broker. He pull my credit and gave us the best new we heard in a long time you're pre appoved. That feeling was great. But for only $95,000. What are you kidding me. No way I was figured at least 130k. But I said 95 is better than nothing so the search begin for real this time. My wife on the realtor app every hour to see if anything she like. And out of no where a forclourse comes on the market in a area of we like. But it listed at $103,500. I was in contact with my realtor and mortgage broker like can we make that happen work. Sure it only a couple grand more after negotiations. We were under contact for 101k and closing november 14.
So guys please don't give up. If a house is what u want go after it. Can wait until closing