@welshdan wrote:Fico 8 up to 667 as of today due to citibank updating.
Bank of america was paid around April 22nd, how long should I give BofA to update the credit files?
BoA will report at the next statement date within a few days of the cut.
@welshdan wrote:
@jrwa81 wrote:
@welshdan wrote:
Ultimately my end goal is to purchase a home. As the settled charged off accounts disappear slowly into the rear view mirror, how negatively could this affect a mortgage app in say 12 months?
Of course for FHA I know mid 600s is a min and I hope to be at least there in 12 months, but does this seem to be a realistic goal? Or should I be prepared for a longer wait.
Actually, for FHA, you only need a minimum of 580 for FHA with 3.5% down. Also, make sure you are checking your FICO scores. Credit Karma uses the Vantage scoring system, which is totally irrelavent as no lenders use Vantage. They pull only pull FICO scores. Keep an eye on your 3 FICO mortage scores.
On experian under the mortgage tab my Fico Score 2 is 711, is that a legit score?
That depends. Do you pay Experian for additional scores? What is the date associated with that score if you do?
If you're serious about mortgage scores, you need a 3B pull and that will tell you what the scores are at that moment in time. You will have to pay for that, but if you're serious about a mortgage then it's well worth it IMO. You can get them monthly through Experian or myFICO, but keep in mind that they don't update throughout the month like you see from FICO 8 on your subscription. Mortgage scores are only updated when you pull a 3B.
Note, that past due balances and lates are extremely penal on mortgage scores. Even 1 CO or Late will have a severe impact on the scores.
