So Close I Could Touch It

[Anonymous]

Lender pulled my scores earlier this month, I had one collection of $50 that was from June 2020,
TU: 665

XPN:623

EFX: 604

My credit card balance was pretty high, so he told me to pay it down to $10 and then wait until the 28th (today) to let my CC update. He said I should be over 640 with my middle score and we should be making our way with getting me a pre approval. I pay it down long before the due date of 22nd. I check every two days and whenever I see a subscription pop up I immediately pay it so that my card goes back down to $10.... 23rd hits and surprise,  a last FU from DFAS. I had an out of service debt of $462 that just hit my credit report. Mortgage scores plummet to TU: 582 XPN: 623 EFX: 611. I lose my lunch. Not even kidding, it came out of nowhere. I paid it and DFAS claims they will let the credit bureaus know to remove it but it might take 30-90 days. We mistakenly thought my $50 collection was with Charter Communications, turns out it was with Communication Construction Services ie AWN an on post internet provider. I call them up today and pay for delete the collection.

Any guesses to where I will be now? Should I just set my sights on homebuying much later in the year? Rental is up this month and currently going month to month because I was optimistic, now I feel like I'm beat. I raised my Vantage (I know, worthless) score from TU 515 to 689 from January to this month and I thought I was doing so well. It just tanked from the DFAS collection to 614. Feels like my credit journey is never ending. I just need some words of encouragement I guess. And any advice.

!!!! UPDATE !!!!

Guess I jumped the gun! Just got my scores pulled again after paying off that rogue DFAS collection. Now sitting at

TU     671

XPN  699

EFX   672

Finally feels like this journey is coming to a real start. Now the hard part! Getting an offer accepted!

[Mortgage-Specialist]

Is your L.O. looking to do an FHA loan or Conventional? I think there's a much easier solution. 

[Anonymous]

Apologies, I should have mentioned I am using a VA loan with Veterans United. 

[Mortgage-Specialist]

You have the ability to do a VA purchase with current scores

[VALoanMaster]

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@Anonymous wrote:

Apologies, I should have mentioned I am using a VA loan with Veterans United. 

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If you get a letter from both creditors that the accounts will be deleted, we can do a rapid re-score and get the accounts deleted at the credit bureau level in 3-7 days.

This way you have a better chance of getting approved and the rate/pricing will be better.

[Anonymous]

Yes sir, we are working on this now. It just seems that every time my score jumps up to acceptable levels some part of the process comes swinging. Wanted to get this step done sooner than later, but I just need patience. Currently on the phone now with a collection agency getting a deletion letter emailed. DFAS told me I had to wait 4-6 business days for my payment to be posted before they would allow me to even request a deletion letter.

This isnt even the most stressful part of homebuying and I'm already ready to pull my hair out.

[VALoanMaster]

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@Anonymous wrote:

Yes sir, we are working on this now. It just seems that every time my score jumps up to acceptable levels some part of the process comes swinging. Wanted to get this step done sooner than later, but I just need patience. Currently on the phone now with a collection agency getting a deletion letter emailed. DFAS told me I had to wait 4-6 business days for my payment to be posted before they would allow me to even request a deletion letter.

This isnt even the most stressful part of homebuying and I'm already ready to pull my hair out.

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Unfortunately, VU isn't doing you any favors. If it were me, I would have ordered a rapid re-score on your credit card balance instead of waiting for it update on it's own. It generally takes longer which means more time for something like this to pop up.

[Anonymous]

I had no idea they could do a rapid re-score on a credit card, it was paid down to $10, for the last three weeks since the day he called and told me that should boost my middle score over 640. Very frustrating to hear that to say the least. I am wanting to get this process moving sooner than later.

[VALoanMaster]

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@Anonymous wrote:

I had no idea they could do a rapid re-score on a credit card, it was paid down to $10, for the last three weeks since the day he called and told me that should boost my middle score over 640. Very frustrating to hear that to say the least. I am wanting to get this process moving sooner than later.

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Might be time to switch to a new lender.....

[coachbeau]

I'm looking to do a cash out refinance VA loan, do you know what the middle score for that is. I purchased in November and my middle was a 627 for mortage score, I'm at a 641 now.