My current EQ fico sore is 685 which should hopefully go up a little bit because i brought my util% down from 59 to 32 and eq hasnt updated yet. I have a satisfied judgement as well which im working on getting off but we'll see.
What are my chances of securing a home loan ??? Ill be getting married in November of this year and my Fiance is starting to get the itch to house shop
Starting Score: 589 / TU: 600
I will advice you to keep working on bringing your utilization to or below 9% util, which should help. How many CC's, derogs do you have? What is your DTI, anticipated loan amount? Is your score 684 / TU: 671 FICO or FAKO what is the source? I believe with a 684 you stand a chance pending any other derog not known.
Starting Score: EQ: 532, EX: 569, TU: 621 (All lender pull 10/15/11)
@K_J wrote:
I will advice you to keep working on bringing your utilization to or below 9% util, which should help. How many CC's, derogs do you have? What is your DTI, anticipated loan amount? Is your score 684 / TU: 671 FICO or FAKO what is the source? I believe with a 684 you stand a chance pending any other derog not known.
No colections and last late payment made on anything was 3 years ago. Both my EQ and TU score are Fico. I have 6 cc's balance on 1 card only. No idea what the loan amount wil be we want get pre approved and see what we can find etc. I am working on lowering that util% down little by little
@my25reasons wrote:Your chances are probably good, but most places want to see your credit score around 640. I have heard of 580 being acceptable in some cases though.
Your best bet would be to save, save, save and save some more. Plan on paying your 3.5% down (or more) as well as closing costs. Plus 2 months of house payments left in reserves. Even if you are able to get the seller to pay your closing costs (or even some) lenders like to see the cash in your account.
Lets hope so. I plan on trying to get the score up more before we hit the banks
It of course depends on what kind of loan program you are shooting for and what your other circumstances are, income, DTI, etc... but if I can get this far in the process with my numbers, you certainly can!!! I wish I had those numbers!! Good Luck!!!
I think you stand a better chance and keep on paying those util % down. Many here would love to have your scores. GL