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Pre-approval

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Anonymous
Not applicable
‎11-29-2009 04:01 AM
‎11-29-2009 04:01 AM

Pre-approval

Was pre-approved with my current card and went out and found a house and got a sales contract on it. The LO called last week and said that I should pay down some of my debt to get my score up. Does this make since? I already have a pre-approval, but now the LO is saying we need to pay some debt down to get my score up.

 

Brian

Message 1 of 3
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Anonymous
Not applicable
‎11-29-2009 10:58 AM
‎11-29-2009 10:58 AM

Re: Pre-approval

Just b/c you're preapproved doesnt mean you will pass underwriting. I am in a situation where I was pre-approved but once the docs went to the underwriter they took issue w/ some collections from 5+ year old mistakes.

 

 

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Regular Contributor
‎11-29-2009 11:16 AM
‎11-29-2009 11:16 AM

Re: Pre-approval

What are your scores? Did your lender tell you the score they would like for you to get to?
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