We found a house that we liked last month but when we pulled our scores we found that Equifax was 550 and TU 608. We were disappointed but decided to pay our credit card under 9% utilitization and work on the baddies.
Today we decided to speak with our lender and he pulled our scores to find TU is 605, Experian is 606 and Equifax is 540 (blah). However, he checked what our scores will be once the credit card reports and they will jump 40-50 points which will qualify us for an FHA loan. We are trying to get the credit card company to fax a statement to the bank so they can force the reports (or something like that) and show updated scores.
I am on pins and needles right now. He told us to put in an offer contingent on us getting financed. ahhhhhh!! lol
Good luck! Hope you get your mortgage. If this doesn't work, keep plugging away, you'll get there!
Most likely happened since the OC's haven't reported yet to the CRA and its not seeing your util below 9%..
Similar situation happened to a friend of mine. He needed 8 points to qualify for an FHA and just paid his util down to 5% from 80%.
He said they dd a rapid rescoring some weeks later and he gained about 30 points all across.