Help please. I need 15 points.

[Anonymous]

I applied for a mortgage. My fico scores are 671, 667 and 630. I thought I was all set  because they take the median score.  Turns out my median score for them is 625. I need a 640.  I recently paid a collection and have the PDFS letter. They said it will update on the 15th.  This collection was placed in August 2014.  Do you think that will be enough to get me to 640?  I have another medical collection that is from 2010. Should I try to get that one off too?   I do have a judgement that is a payment plan and they said that that would be ok.  The only other thing is lates on my student loans from last summer.  It looks likes lot of lates because they are divided  up in to serveral accounts.  I just started the goodwill letter processes with those.  Any ideas inspiration?  Please.  

[Anonymous]

Is the CA from 2010 paid or showing a balance due?

Is the student loan private or Federal?

[Anonymous]

It shows a balance.

They are through Vermont Student Assistance.

[Anonymous]

You may get a small bump from paying the CA. PFD would be optimal, but at least getting it to $0 may help.

I'm assuming your SLs are Federal. You may be able to get a score bump by paying them down. Calculators show that getting an installment loan to below 50% of the original balance increases 08 scores, and some on here have reported it also.

[Anonymous]

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@Anonymous wrote:

I applied for a mortgage. My fico scores are 671, 667 and 630. I thought I was all set  because they take the median score.  Turns out my median score for them is 625. I need a 640.  I recently paid a collection and have the PDFS letter. They said it will update on the 15th.  This collection was placed in August 2014.  Do you think that will be enough to get me to 640?  I have another medical collection that is from 2010. Should I try to get that one off too?   I do have a judgement that is a payment plan and they said that that would be ok.  The only other thing is lates on my student loans from last summer.  It looks likes lot of lates because they are divided  up in to serveral accounts.  I just started the goodwill letter processes with those.  Any ideas inspiration?  Please.  

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I had no idea one could qualify for a mortgage with a fico score in the low to mid 600's.   That's great to know!   All the best to you as you pursue your home purchase.

[gdale6]

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@Anonymous wrote:

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@Anonymous wrote:

I applied for a mortgage. My fico scores are 671, 667 and 630. I thought I was all set  because they take the median score.  Turns out my median score for them is 625. I need a 640.  I recently paid a collection and have the PDFS letter. They said it will update on the 15th.  This collection was placed in August 2014.  Do you think that will be enough to get me to 640?  I have another medical collection that is from 2010. Should I try to get that one off too?   I do have a judgement that is a payment plan and they said that that would be ok.  The only other thing is lates on my student loans from last summer.  It looks likes lot of lates because they are divided  up in to serveral accounts.  I just started the goodwill letter processes with those.  Any ideas inspiration?  Please.  

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I had no idea one could qualify for a mortgage with a fico score in the low to mid 600's.   That's great to know!   All the best to you as you pursue your home purchase.

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You may be able to but with sub 680 scores you will be paying a lot more in interest over the life of the loan.,

[Shann0n_marie]

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@Anonymous wrote:

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@Anonymous wrote:

I applied for a mortgage. My fico scores are 671, 667 and 630. I thought I was all set  because they take the median score.  Turns out my median score for them is 625. I need a 640.  I recently paid a collection and have the PDFS letter. They said it will update on the 15th.  This collection was placed in August 2014.  Do you think that will be enough to get me to 640?  I have another medical collection that is from 2010. Should I try to get that one off too?   I do have a judgement that is a payment plan and they said that that would be ok.  The only other thing is lates on my student loans from last summer.  It looks likes lot of lates because they are divided  up in to serveral accounts.  I just started the goodwill letter processes with those.  Any ideas inspiration?  Please.  

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I had no idea one could qualify for a mortgage with a fico score in the low to mid 600's.   That's great to know!   All the best to you as you pursue your home purchase.

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You can apply for an FHA loan with 3.5% down and min. Mid FICO of 620.  Going interest rates with that FICO and loan to value is 3.5% - 3.75% on a 30 year loan.